Intercontinental Bank Migrates to Chip & Pin Card

Intercontinental Bank has become the first bank to migrate to the newly launched Verve Chip and Pin debit card by InterSwitch with the unveiling of Intercontinental bank Verve Card.
Erastus Akingbola, chief executive officer, Intercontinental Bank, said that the launch of Verve card is in line with Central Bank of Nigeria directive to banks to upgrade all their channels to Europay MasterCard Visa (EMV) standard.
Intercontinental Verve Card, he said is a chip based card positioned as a premium, innovative brand, set to meet the needs of the issuer, merchant and consumer by providing convenience, absolute security, reliability, recognition and reward.
He said the launch of Verve chip and Pin card by Intercontinental bank is coming at a time the bank is enhancing its card business into a world class card services, similar to Barclays cards.
“We have commenced issuance of our EMV compliant Visa cards, which will come in credit, debit and prepaid variants which will be available in Sterling, US Dollars, as well as Naira, and accepted in over 220 countries, one million Automated Teller Machines, 40 million PoS and web merchants globally,” he said.
Akingbola added that the bank has began migrating its MasterCard to EMV Chip and Pin compliance, and is installing several automated processes for card and pin distribution that are efficient and secured.
He noted that the bank has successfully concluded pilot transactions with the Verve card and is set to commence issuance to all its customers. “We want our customers to sleep soundly without fear of their funds in our bank being tampered with via card fraud. We have devised an easy and seamless process of issuance such that no actions are required from our customers, no paperwork, no need to place an order,” he said.
He stated that the bank will give incentive to its customers that activate their cards within a week of collecting their Intercontinental bank Verve chip and pin cards.