By Peter Egwuatu

As part of their support for the Central Bank of Nigeria, CBN’s Cashless initiative, O3 Capital Nigeria Limited and Game Stores have partnered to introduce the first consumer credit card in Nigeria. Mr. Abimbola Pinheiro, CEO, O3 Capital Nigeria Limited sated during the launch of Game Credit that the card is the first white label credit card in Nigeria that can be used only in Game Stores across Nigeria.

According to him “The card will give customers the freedom to buy now and pay later for any items purchased in Game Stores. The Game Stores in Nigeria are located in Lagos, Enugu, and Kano. This credit facility works on revolving credit bases with a 15 day interest free period and low minimum monthly repayments of 10 per cent in a month.

The O3 Game card will offer customers a generous revolving credit limit of up to N1.5million based on the qualification criteria of the individual applicants.”

Pinheiro, noted that the objective of the O3 Game card correlates to that of the CBN’s Financial System Strategy 2020, which includes the cashless policy. “The objective is to promote economic activity by ultilising innovative payment systems with ease of accessibility to the general populace. This is in line with 03 Capital’s mission to take the CBN cashless policy to a whole new level” he added.

He further noted that the Game card is another avenue to provide the average Nigerian with access to credit that will enable them meet their needs. In his remark at the launch, Mr. Sylvester John, West Africa Executive, Game Discount World Nigeria Limited said “Game Stores, Africa’s largest discount retailer of general merchandise is guided by four basic core beliefs, one of which is exceeding the expectations of our customers.

The credit card are the first of its kind in Nigeria to be used without an issuance fee, additionally, the card is also issued free of commitment and advisory fees.” To qualify for the Game’s credit card facility, he said “ All applicants must be permanently employed and over the age of 21. Applicants must be in possession of an official identity document Also applicants must have a valid bank account and a good financial track record.

Speaking as well, Yvonne Onyejiaka, Business Development Manager, Game Discount World Nigeria Limited, said “Game Store is ultimate gifting destination and offer registry of the items that customers need in an occasion, be it for wedding, birthday etc.”