By Providence Ayanfeoluwa

A financial technology company, U-Card, has said that it is closing the gap between the traditional banking and everyday commerce by providing a comprehensive range of retail solutions, including point-of-sale, PoS, terminals, mobile money, and financial education.

A World Bank report had said that only 48 percent of Africans had access to banking services in 2022, adding that the number is even lower in rural areas.

In a statement, Chief Executive of U-Card, Jide Maf, said that these solutions make it easier for businesses and individuals to access financial services, even in remote areas with limited infrastructure, adding that the need for innovative financial solutions is great in Africa, where more than half the population lacks access to banking services.

Maf said that the U-card’s agency banking model leverages technology to bring banking services to places traditional banks have struggled to penetrate, a revolutionary model which allows individuals to earn income as banking agents, thus fostering job creation, stimulating local economies, and promoting financial inclusion.

He stated: “U-Card is more than a banking service provider; we are a catalyst for economic empowerment and financial inclusion. Our mission is to make banking services accessible to everyone, focusing on Africa’s underprivileged and under-banked population.