Allawee, a digital lending fintech, has introduced Nigeria's first credit-building card in partnership with Mastercard. The card offers instant credit access to consumers via a secure, physical Mastercard that can be used for purchases at millions of online and in-store merchants worldwide and for cash withdrawals at ATMs.
The Allawee Card offers instant credit approval, wide acceptance, multiple payment options, and flexible repayment terms. It also reports payments to credit bureaus, helping users build their credit scores.
The card is designed to meet the evolving needs of Nigerian consumers increasingly embracing digital payment solutions. Allawee has partnered with ProvidusBank, Remita, and Mastercard to bring this product to market.
The company plans to roll out the card offering in phases, initially targeting Federal Government Civil Servants and NYSC Corpers. The subsequent phases include consumers from crucial sectors like FMCG, Manufacturing, and Logistics.