eTranzact launches ‘Genesis’ Chip & Pin Card

eTranzact has launch its Genesis Chip & Pin Card. The eTranzact Genesis CHIP+PIN Card which is an EMV compliant card was unveiled and presented to an audience in Lagos by Mr. Valentine Obi, MD of eTranzact.
By releasing these cards into the payment market, eTranzact will mop up all its old magnetic cards which are currently being used by the Nigerian public and also make help move Nigeria towards an advance technological era like other advanced countries where the smartcard payment platform is being actively made use of.
Mr. Valentine Obi said that the release of the card would allow cardholders be rest assured of continuous security even if his or her card is compromised. He added that in creation of the card, the company had in mind its customers, the end-users of the product in protecting them while giving them Quality of Service (QOS). “We thought about the Uniqueiness newness of not only changing it from a magnetic stripe to a CHIP+PIN Card but also giving it a unique attribute solely for the safety of the customers and carriers of the Genesis Card,” he said.
According to him, “the Genesis Card is a highly secure card as it leverages on the eTranzact Strong Authentication Tool, ‘the ESA’ generated as a code through our mobile application or web access profile platform for our customers. eTranzact makes available dynamic PIN (as opposed to a static PIN) for all channels utilization of static PIN as the singular parameter for electronic transactions is increasingly becoming fraud prone. Card cloning and PIN closure are apparent to card transaction. By leveraging on the eSA dynamic Pin generation, this threat can now be surmounted.”
The Genesis Card unlike its predecessor is made up of 3 ranges: The Prepaid, Debit & Credit cards and are accepted on electronic payment channels such as ATM, POS, WEB and Mobile Commerce. The card enables the users determine the authenticity of the transaction via its audit trail. It has 2 years validity before expiry and for students 4 years before expiry. The Genesis Cards can also be loaded/recharged through the eTranzact Pay Outlet platform as well as be used for other value added schemes such as Loyalty scheme and Discount scheme.
eTranzact is Nigeria’s first award winning multi-application and multi-channel electronic transaction switching and payment processing platform. The company has operations in Nigeria, Ghana, Zimbabwe, Cote d’Ivoire, South Africa and UK and is currently expanding operations to more and more countries in the world, the Genesis Card will be able to be loaded in any eTranzact office in these countries, allows currency denomination change and inter country use.