New card aims to improve access to secure digital payments for underserved populations
Mastercard and Zenith Bank have launched the Essential Debit Card, a new solution designed to expand access to secure digital payments and strengthen financial inclusion in Nigeria.
The card is tailored for underserved groups, including low-income earners and individuals who have traditionally faced obstacles in accessing formal banking services.
Folasade Femi-Lawal, Country Manager and Area Business Head for West Africa at Mastercard, said:
“At Mastercard, we believe that inclusion fuels innovation, and innovation must be inclusive by design. The Essential Debit Card offers a gateway to economic opportunity for millions.”
Dame Dr Adaora Umeoji, Group Managing Director/Chief Executive at Zenith Bank, said:
“This launch aligns with our ambition to drive financial inclusion at a larger scale. By offering an affordable, secure and practical digital payment solution, we’re empowering more Nigerians to participate in the formal economy, supporting not only individual progress but national economic growth.”
Zenith Bank began issuing the Essential Debit Card in July 2025, offering both physical and virtual card options through its branches and digital channels.
As one of the first tier-one banks in Nigeria to adopt Mastercard’s Essential Debit framework, Zenith Bank aims to reach underserved customer segments through simplified onboarding processes and lower issuance costs.
