A new and easier way of paying for goods and services is here courtesy of leading financial services
institution in digital banking offerings in Nigeria, and across Africa, United
Bank for Africa (UBA)Plc.
The bank is changing the payments landscape in Nigeria with the
introduction of contactless payment cards.
Contactless payment cards offer
UBA customers a more convenient hassle-free way to pay for goods and services.
It is the latest innovation from the
digital banking division of pan-African
financial services UBA, which has built its competitive edge around offering
the very latest in convenient banking options to its customers.
Contactless payments are fast, easy
and secure. It is a regular payment card with the added advantage of NFC technology.
“With our contactless cards, you can
make payments for everyday essentials and other things that money can buy the
contactless way” says Dr. Yinka Adedeji, Divisional Head, Digital Banking.
The new UBA contactless payment
cards works with Near Field Communication (NFC) enabled POS and ATM terminals by simply touching the card
against the reader without slotting it into the terminal.
Customers can also use the cards to pay on
regular POS terminals.
“UBA contactless payment cards
can be used across all the channels where you use your regular card – ATM, POS
and Web” explains Dr. Adedeji.
He also
explains that all UBA contactless cards use the Combined Data Authentication
EMV Chip “which is currently the highest standard for chip technology used in payment
cards to ensure that UBA contactless cards are absolutely safe.”
“Ideally, for low value
transactions, contactless payment card holders are not required to input their
PIN but the Central Bank of Nigeria (CBN) currently mandates that all transactions
on the POS require PIN entry,” says Mr. Adedeji.
“So, for now, customers will
still be required to input their PIN even for low value transactions. However,
contactless payment cards still offer a superior level of convenience compared
to the traditional payment cards” he explained.
The cards are
currently being issued at all UBA business
offices across the country.
UBA is one of the
largest and most innovative card issuers on the African continent. The bank has
won several awards and recognitions for offering innovative and convenient
payment options to its customers.
A highly diversified financial
services provider, UBA remains one of the largest financial institutions in
Africa, with business offices in New York and Paris and a subsidiary in London.
UBA Plc controls significant market
share in 19 different African countries. The Group has a strong retail
franchise across the African continent offering its more than seven million
customers a bouquet of products and services tailored to meet their different
financial needs backed by a cutting edge e-banking platform that enables
secured and convenient real-time online banking services.
