UBA Inaugurates V Pay Debit Cards
 17th OCT 2006

The United Bank for Africa Plc, has commenced the issuance of V Pay debit Cards in Nigeria. This followed the signing of a strategic partnership agreement with Visa International, one of the world’s leading electronic payments companies.

 The bank’s executive Director, Retail Banking, Mr. Chika Mordi, said the product would change the face of banking in Nigeria. “We are delighted to add the Visa V Pay product to our range of card payment offerings.

“Our Visa V Pay product is unique in Nigeria as a debit card, which contains a microchip, whereby transactions are validated against the chip rather than a magstripe.”

The statement signed by the bank’s Group Head, Corporate Communications, Celine Loader, expressed the readiness of UBA to make the product readily available over the coming weeks through its expansive branch network.

“We are excited to bring to our customers an industry-leading and secure card technology product which will be made available over the coming weeks through our expansive branch network.” 

The UBA Group, according to Mordi, has a high focus on electronic payments, which will benefit its entire customer base. “We all understand the operating inefficiencies of a primarily cash-based society, and the benefits which will be achieved through greater usage of cards and other electronic payments methods. UBA is committed to providing financial solutions which make life easier for our customers,” he said.

The bank described the product, a local version of VISA, the world-renowned debit card brand, as one which is aimed at enlarging the population of Nigerians with access to electronic payment system, provide financial empowerment to the un-banked and the under-banked as well as extend the bank’s customer base.

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