July 29, 2021

Mastercard retains quality seal on Electronic Payplus

By Cynthia Alo

The world’s leading electronic payment company, MasterCard, has retained its seal of authority on the quality of cards produced by Nigeria’s foremost smart card manufacturer and payment solution company, Electronic Payplus (Epay Plus) Limited.

Epay Plus, a member of the International Cards Manufacturers Association (ICMA), recently announced a partnership with another international electronic payment company, American Express, to produce its range of smart cards in Nigeria.

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American Express, in its approval, said Electronic Payplus Limited had complied with the security requirements as stipulated by the Payment Card Industry (PCI).

MasterCard, in a Statement of Quality letter, dated June 10, 2021, said it restated approval to Electronic Payplus Limited, based on the company’s submission of “a number of Smart Cards Products and Services in conformity with the MasterCard Card Quality Management (CQM) Requirements.”

It further noted that “the terms and conditions of the MasterCard Card Quality Management Certification Agreement shall apply to this Statement of Quality and related CQM Label(s).”

Electronic Payplus Limited started operations in May 2005, as a payment service provider.

Managing Director and Chief Executive Officer of Electronic Payplus Limited, Mr. Bayo Adeokun, described the MasterCard Card Quality Management (CQM) as a vote of confidence on the quality of cards produced by his company.

“What this means is that Mastercard has certified that all products from our factory meet the required standard as specified by MasterCard and they are of the same quality with products from any other MasterCard certified factory in the World.”