ProvidusUnity Bank Pioneers Mastercard Payments on Google Pay, Building on Its 2021 Tokenisation Innovation

ProvidusUnity Bank has enabled its eligible Mastercard cardholders to utilize their cards on Google Pay, enhancing payment options via compatible mobile devices. This advancement follows the bank's 2021 initiative in tokenisation, a collaboration with Mastercard and Thales to introduce Mastercard Digital Enablement Service (MDES) capabilities in Nigeria.

In 2022, the bank expanded on this foundation with a Tap-to-Pay initiative alongside Mastercard, Interswitch, and Thales. Now, eligible ProvidusUnity Bank Mastercard holders can add their cards to Google Pay and utilize compatible devices at contactless terminals and participating online merchants, contingent on device, market, and merchant availability.

Tokenisation substitutes sensitive card details with a distinct digital token, mitigating the risk of exposing underlying card information. On compatible platforms, this feature can streamline checkout by permitting customers to pay via digital wallets without repeatedly inputting full card details. Deoye Ojuroye, Executive Director/CFO of ProvidusUnity Bank, commented on the development, stating that it underscores the bank's persistent investment in payment infrastructure.

"Establishing resilient payment infrastructure is crucial for supporting customers and businesses," Ojuroye remarked. "Our investment in tokenisation reflects a long-term perspective on digital finance, emphasizing secure transactions, operational resilience, and scalable capabilities as payment behaviors evolve. By building upon the groundwork laid in 2021, we fortify our digital strategy."

Elliott Sangoleye, Divisional Head of Digital Banking at ProvidusUnity Bank, added that this capability aligns digital payments more closely with customers' daily routines. "Customers now anticipate seamless payments within their digital lives," Sangoleye explained. "Enabling eligible Mastercard users to utilize Google Pay enhances convenience across supported online and contactless transactions, while tokenisation reduces the exposure of sensitive card details.

This is another stride towards rendering digital banking more intuitive and attuned to customer requirements." The bank's merchant payment gateway incorporates tokenisation, laying the groundwork for compatible digital wallet payments as appropriate integrations become accessible. Its contactless-enabled point-of-sale (POS) terminals also accommodate eligible physical cards, mobile wallets, and payment-enabled wearables.

Group Head of Cards Business at ProvidusUnity Bank, Lanre Ogundare, emphasized the bank's commitment to anticipating market demands and translating technology into tangible value. "Our journey in tokenisation commenced in 2021 when we discerned that digital wallets, mobile payments, and payment-enabled devices would gain prominence," Ogundare stated.

"We invested early in the necessary infrastructure and partnerships to facilitate this evolution. Enabling our Mastercard cards on Google Pay builds upon this foundation, offering eligible customers greater flexibility while reinforcing our emphasis on secure, convenient transactions." Ogundare concluded, "Innovation transcends mere technology adoption; it involves making it meaningful for customers and businesses.

We are interlinking capabilities across the payments ecosystem to enable individuals to enjoy convenient payment options and merchants to adapt to shifting digital commerce expectations. Our objective is a cohesive payments experience grounded in security, convenience, and ongoing innovation." ProvidusUnity Bank persists in constructing an integrated payments ecosystem to accommodate evolving customer expectations, support businesses, and bolster secure digital payments.