The global payments technology giant Mastercard has appointed Folasade Femi-Lawal as the Country Manager and Area Business Head for West Africa. With over 25 years of experience, Femi-Lawal has a background in financial services, management consulting, telecommunications, and business advisory services.

Mastercard Eyes Private and Public Sectors

Mark Elliott, the Division President for Sub-Saharan Africa at Mastercard, mentioned in the company's statement: "Folasade will work closely with various private and public sector stakeholders in the country to help further this transformation. Her proven track record of leadership, innovation, and dedication to driving positive change and results aligns perfectly with our vision for the region."

"Femi-Lawal's vast experience across the digital payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term ecosystem will be a huge asset to the Mastercard business in West Africa. She arrives at a pivotal time when digital innovation is transforming the country's payments landscape, moving Nigeria toward a cashless society."

Leadership in Digital Banking Strategy

Previously, Femi-Lawal served at First Bank, Nigeria, where she spearheaded Mobile Financial Services and Digital Banking Strategy initiatives. Previously, she held leadership roles in banking, consulting, and telecommunication.

Currently, Mastercard is forging strategic partnerships globally. These initiatives aim to drive innovation and strengthen the company's position at the forefront of the rapidly evolving payments sector, according to a report by Finance Magnates.

Mastercard's collaboration with Circle, a renowned financial technology corporation, is set to bridge the gap between traditional fiat currencies and digital currencies. By leveraging Circle's expertise in stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Read this Term issuance, Mastercard aims to enhance accessibility and usability for consumers and businesses.

Besides that, Mastercard has ventured into the realm of non-fungible tokens by partnering with Crypto.com. This collaboration introduced co-branded NFT credit cards, blending physical payment cards with digital assets to cater to changing consumer preferences.

Additionally, Mastercard has partnered with Goldman Sachs to provide tailored financial products for small and medium-sized businesses. Through co-branded credit cards and B2B payment systems, Mastercard seeks to empower SMEs and foster economic growth.