We’ll make Nigeria cashless society – IBPLC
By Nnamdi Ojiego
Intercontinental Bank Plc, IBPLC, has revealed its desire and determination to make Nigeria a cashless country in line with what is obtainable in advanced countries of the world.
The bank expressed worries that Nigerians are among the few people of the world that still carry cash around anywhere they go despite the inherent dangers associated with the trend.
Speaking during a media launch of Intercontinental Bank Visa Hajj Card, at the bank’s head office, Victoria Island, Lagos, the Group Managing Director, IBPLC, Mr Mahmoud Alabi disclosed that it was in response to their customers’ demands and the bank’s philosophy of providing total e-financing solutions to customers as well as the desire to migrate Nigeria from cash to cashless society that Intercontinental Bank developed the Visa Hajj Card.
He said the card was designed to meet the aspirations of not only their customers but also prospective ones who would be embarking on the annual pilgrimage or visiting the holy land for lesser hajj.
Mr Alabi who was represented at the event by the Executive Director, IBPLC, Mr Abubakar Sule stated that the use of the card was not restricted to Saudi Arabia alone but in anywhere in the world and in any currency of choice.
“ The cardholders can use the Visa Hajj Card anywhere in the world where visa cards are accepted to withdraw cash on the ATM, shop using the Point of Sale (POS) terminals as well as use it for online transactions. With this card, they can conveniently pay for goods and services while performing both lesser and main hajj.
“Cardholders have access to other services from over 1.4 million visa automated teller machines (ATM) and 10 million Point of Sale (POS) in more than 200 countries and territories.
So they don’t need to visit any bank while performing the holy pilgrimage as they have 24 hour access to their funds without any need to carry cash or cheques”, he assured.
The GMD disclosed that the use of the card would eliminate the risks associated with fake currencies, cash theft and difficulties in sourcing foreign currencies while embarking on the pilgrimage. Other benefits according to him, include available favourable exchange rates when making purchases or withdrawing cash abroad, and availability of multi-currency transaction support feature.
Speaking on the security of the card, Mr Alabi said, “the Hajj Card is very secure since it is a chip and PIN card. It based on the functionality of Europay, Mastercard and Visa (EMV) security standard which as today is adjudged the best in the world with almost zero level of card cloning.”
He stressed that it was in consideration of the financial security of their customers that they blazed the trail in deploying the Verve Card, a chip and PIN compliant debit card to secure their customers debit card, among others.
Meanwhile, the IBPLC Visa Hajj Card promo is on. All cardholders are eligible to participate to win a cash reward of $10 after they must have loaded the card three times in a month and spent up to $500 in the same month. Visa Hajj Card is available at any of the bank’s branches.
