UBA Contactless Cards Hit Industry High of 3 Million ………Over 10m Debit Card Issued

 

United Bank for Africa (UBA) Plc, again redefines Nigeria's e-Banking space superiority over the issue of more than three million Near Field Communication (NFC) technologies that enable contactless cards in the imminent customers. The UBA has changed the payment landscape in Nigeria in 2015, with the introduction of contactless payment cards that enable customers to easily pay by using NFC technology. NFC technology allows wireless communication between devices a few centimeters. The NFC payment card uses microchips / antennas to transmit data through radio frequency frequencies. Typically, when an NFC enabled device is nearer to another NFC device, the connection can be established and the data can be shared between them. The card announces the reader's data to initiate and complete the transaction using NFC technology. A forward-thinking institution that puts its customers' needs in priority, the UBA with operations in 19 African countries, has developed this solution to reduce transactions and to simplify the life for its customers in all parts of the world. It was made in response to the increasing need for digital-driven processes and to develop products to meet the current demands of consumers. In addition to contactless cards, the bank issues more than 10 million debit and prepaid cards, serving both customers and non-bank customers in its country of operations. With contactless cards, users continue to experience unlimited payment services at no cost to the uninitiated payments fast, easy and safe with the added advantage of NFC technology that works just by touching on the card against the reader without slotting it in the terminal. Customers can also use cards to pay for 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.
The UBA Group is a highly diversified financial services provider, with business offices in New York, Paris and a subsidiary in London. A leading player on the African continent, UBA has significant market share and operations in 19 different African countries



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