UBA Contactless Cards Hit Industry High of Three Million
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Pan-African financial institution, United Bank for Africa (UBA) Plc, has again demonstrated its superiority in the Nigerian e-Banking space with the issuance of over three million Near Field Communication (NFC) technology enabled contact-less cards to its teeming customers.
UBA has revolutionised the payments landscape in Nigeria in 2015, with the introduction of contactless payment
cards which enable customers pay with ease by leveraging the NFC technology.
The
NFC technology allows wireless communication between devices that are a
few centimetres apart. The NFC
payment Card uses microchips/antenna to transmit data via shortwave
radio frequencies. Usually, when one NFC-enabled device is close enough
to another NFC device, a connection can be established and data shared
between them. The card communicates data to the
reader to initiate and complete the transaction using NFC technology.
Being
a forward thinking institution that puts the needs of its customers as
its priority, UBA with operations
in 19 African countries, developed this solution to ease transactions
and to make life simpler for its customers in all parts of the world.
This has been done in response to the increasing need for
digitally-driven processes as well as to develop products
to meet up with the current fast-paced needs of consumers.
In addition to the contactless cards, the bank has issued well over 10 million debit and prepaid cards,
serving both customers and non-bank customers in its countries of operation.
With
the contactless card, users continue to experience limitless convenient
payment services as the contactless
payments are fast, easy and secure with the added advantage of the NFC
technology which works by simply touching the card against the reader
without slotting it into the terminal. Customers are also able to use
the cards to pay on regular POS terminals.
UBA’s
Group Head, Cards, Dr. Yinka Adedeji, said “We are delighted to
reaching this milestone. Our customers
have found out that with our contactless cards, they make payments for
everyday essentials and other things that money can buy the contactless
way, and these cards can be used across all the channels where you use
your regular card – ATM, POS and Web”.
He
also explained 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.”
These
cards, which work anywhere in world, have over the years, made it easy
for customers to have access
to basic banking transactions quickly, safely, and conveniently without
having to visit bank branches, via ATMs, POS and on the internet.
UBA’s Group Managing Director, Kennedy Uzoka, said the bank remains a leader in the e-banking innovation
space, adding that UBA cards are protected with the best in class security tools.
He
said, “We have driven other initiatives such as the acceptance of
international cards on our POS terminals
and that UBA PoSs are now NFC enabled. Our POS terminals are also
enabled for Dynamic Currency Conversion (DCC), which means customers and
non-customers using foreign payment cards on our POS can see their
transaction value in the currency of their card or
home country; this aids transaction tracking and personal account
reconciliation.”
With
a customer base in excess of seven million, UBA has invested heavily in
building a robust and secure
digital banking platform that supports its operations globally through
strategic partnerships with various local and international
organisations.
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