Eyowo Launches Digital First Mastercard Amid Growing Demand for Digitally Driven Money Management Solutions

August 30, 2022
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4 min read
  • As one of the first partner in Nigeria to join Mastercard’s Digital First Card Program, Eyowo delivers best-in-class digital banking experience to customers
  • The Better Card is a numberless Mastercard debit card, which gives cardholders access to safer and more secure payments

Today’s generation do everything from ordering meals to scheduling doctor’s appointments on their mobile phones or online. To better meet their needs, Eyowo today unveiled its Digital First payment offering - the Better Card - which is certified by Mastercard. 

As one of the pioneer partners in Nigeria to join Mastercard’s Digital First Card Program, Eyowo brings a best-in-class digital banking experience to its customers. This includes digital access to card information, unsurpassed payment security and access to a host of payment options (ecommerce, contactless and QR) from any digital device of their choice.

Powered by Providus Bank, the Better Card offers customers a seamless payment experience that eliminates the risk of card fraud by safely storing their payment credentials in the Eyowo X mobile app. 

Eyowo customers can easily apply online and receive their Better Card – including the 16-digit card number and expiration date – digitally. Once activated, the digital cards can be used to make purchases online, in app and at the point of sale through digital wallet offerings. 

Customers will also receive an innovative physical card, which doesn’t contain sensitive information such as the card number and expiration date, providing ultimate protection for the theft of personal and financial information. 

“We want to give our customers the freedom to spend without worrying about losing their hard-earned money by providing a card that keeps their money safe,” said the VP of Products for Eyowo, Ope Adeyemi.  “To achieve this, we simply removed the card number and the expiry date on the physical card and made it accessible only via Eyowo X. We thought that this was the single most important improvement that had to be made to the debit card, which is widely known as a predominant channel for account-takeover fraud.” 

Integrated into the Mastercard Digital First Program, the cards are part of Mastercard’s efforts to enhance the safety and security of online banking and contactless transactions by providing expert guidance to fintech and issuing banks to create end-to-end digital payment options at scale. 

“Mastercard is committed to bringing 1 billion people into the digital economy by 2025 and ensuring safe and secure digital payments plays a big role in that. In a boundless digital environment, Mastercard has long understood that it is not enough to secure the payment transaction alone but that the safety net must widen to encompass every touch point along the journey. We weave that expertise into our Digital First program, ensuring the highest standards of innovation, quality, security, and privacy,” said Kari Tukur, Vice President, Product Management, Mastercard.  

Eyowo seeks to help people build an improved relationship with money by redefining each user’s knowledge of saving, spending and investing.

Eyowo X mobile app empowers users with a curated knowledge of their card transactions by providing a daily summary that helps them to keep track of their spending and subsequently cultivate better financial habits. This is in addition to other in-app features that allow users to manage multiple bank accounts, track and control spending, and grow their money.

The Better Card has been delivered to 500 users in the first phase of the release and is now open to the public via the Eyowo X mobile app available for download from the Apple iOS App Store and the Google Play Store.

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com

Mastercard Contact: Birgit.Deibele@mastercard.com

About Eyowo. 

Eyowo is a digital bank that connects your entire financial lifestyle in one place - banking, savings, payments, planning, investing, etc. We collapsed all the major issues facing humans today under three major buckets - inclusion, fragmentation and stagnancy. Eyowo solves this by providing inclusive access to financial services through Banking on your Phone number. In addition, it eliminates fragmentation by designing a bank that connects you to everything you want to do with your money in one app; giving you an exhaustive holistic view of your financial habits. We believe that with this, our users can achieve incremental growth in their lives. www.eyowo.com

Eyowo Contact: nimide@softcom.xyz

This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

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