Skye Bank introduces Nigeria’s first MasterCard Verve
By Babajide Komolafe
Skye Bank Plc has launched into the Nigerian financial market the first naira denominated Master-card Verve which can be used to make payments across multiple channels like the Automated Teller Machines, Point of Sales terminals, internet, telephones, among others.
The bank said in a statement that the naira denominated Master-card Verve is globally accepted as a means of payment at over 24 million merchant locations and over one million ATMs worldwide in more than 220 countries.
According to the bank, the Mastercard Verve is a product designed to allow cross-border transactions while taking into consideration the pre-approved Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) limits, noting that the card is linked to a naira operated account which can be either savings or current account.
On the category of people the card is most suitable for, the statement said the card is targeted at individuals who demand quality and prompt and consistent service in addition to offering financial security to those who travel.
Besides, it explained that the card was meant for individuals who are international in outlook with medium to large disposable income. The card is valid for 2 years and renewable
“As a bank, our aim is to penetrate all segments of the issuing market by offering flexible products with unique features. The Card payment space in Nigeria is fast growing and becoming very competitive; however despite the challenges, the indices show tremendous opportunity as the market report on the current cardholder base in Nigeria shows that the market has barely been tapped in light of the growing population”, the bank explained.
Skye Bank is a Principal member of Master-Card International. The MasterCard Principal Membership License enables the bank to issue and acquire all MasterCard Maestro, Cirrus and MasterCard standard products.
MasterCard Verve is an EMV (Europay MasterCard and Visa) standard card which is a world recognized safety standard for card interaction with terminals.
Skye Bank has brought a lot of innovations into the financial market through the introduction of several e payment solutions and platforms which have eased the inconvenience suffered by many bank customers.
Among the e pay solutions introduced by the bank the Skye Visa cards, Skye Mobile, internet banking etc.
