Unified Payment Services Limited is third party processor for MasterCard

Third party processor to MasterCard

Unified Payment Services Limited has announced that it is a third-party processor to MasterCard, and is owned by a consortium of 18 Nigerian banks. Unified Payment is thought to be the first Nigerian e-payment service provider in Africa to be a third-party processor for leading card schemes. MasterCard has a global market share of approximately 65% in transaction volume and value.

The company believes that this move highlights its drive to be a one stop shop and a shared infrastructure for electronic payment solutions across different card schemes. A spokesperson for the company said: “This is made possible by reason of the strategic position as an option neutral and card neutral payment service provider, that is, the company does not discriminate against any card or payment option.”

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