26 results
- 22 Jun 2009
IBPlc Pioneers EMV, Spends N200m on Chip & Pin Card
Intercontinental Bank Plc, Nigeria’s financial powerhouse, has spent some N200 million to produce Europay MasterCard and Visa (EMV)-compliant chip and pin based cards issued to its account…
- 3 Feb 2015
Over 5% Card Issuers Will Suffer Fraud on EMV Cards In 2015- Gartner
Analyst at Gartner have revealed that following some high-profile data breaches in 2014, U.S. payment card network participants began heavily endorsing Europay, MasterCard and Visa (EMV) chip cards…
- 18 Jan 2010
4,000 ATMs not EMV Compliant
A total of 3,908 Automated Teller Machines (ATM) deployed by banks and merchants across the country are yet to be upgraded to Europay MasterCard and Visa (EMV) standard, Nigeria Communications-Week…
- 11 Jan 2010
ATM: Most Banks Yet to Comply with EMV Standard
Only five out of the 24 banks in the country have migrated from the old magnetic stripe cards to the required Europay MasterCard Visa (EMV) technology-backed chip and pin card meaning that the rest…
- 25 Jan 2010
Banks Issue 31m ATM cards
A total of 31million Automated Teller Machine (ATM) cards have been issued by 23 of the 24 consolidated banks in the country, Nigeria CommunicationsWeek has learnt. An ATM card also known as a bank…
- 15 Mar 2010
Banks to launch new ATM Cards in May
Nigerian banks are to launch Visa Electron, the revolutionary new generation debit or credit cards, that combines the ease-of-use for daily purchases with enhanced security, Nigeria…
- 10 May 2010
EMV: ATMs Reject Magnetic Stripe Cards
Some banks installed Automated Teller Machines (ATMs) have started rejecting magnetic stripe cards, in what looks like a move to protect customers from card related fraud, Nigeria CommunicationsWeek…
- 6 Jul 2010
ATMs: Job Losses, Scam Slow Patronage
Transactions on Automated Teller Machines (ATMs) shrank at its fastest pace in three months March to May this year highlighting the severe toll of the worsening economic situation in the country,…
- 19 Jul 2010
Nigerians Shun PoS for Transactions
Point of Sale (PoS) terminal, the electronic device used for verification and processing of credit card transactions is not popular yet in Nigeria despite the wide acceptance of Automated Teller…
- 17 Aug 2010
Visa Card Beats Competition, Now Market Leader in Nigeria
Bursts of the transactions with Visa card on Automated Teller Machines (ATM) and Point of Sale Terminal (POS) have suddenly and surprisingly pushed Valucard Plc to the top of the e-payment processing…
- 4 Jun 2012
Visa Records N1.12tr Transaction Volume in Nigeria
Visa, one of the electronic payment cards scheme in the country, has recorded transaction volume to the tune of N1.12trillion ($7billion) last year, Nigeria CommunicationsWeek…
- 30 Jan 2013
FCMB Offers Free Visa Naira Cards to Customers
First City Monument Bank (FCMB) Plc has announced free issuance of FCMB Visa Cards, its new range of Naira Visa Cards to customers. The FCMB Visa Cards, which are available in debit, credit and…
- 8 Dec 2013
Banks Issue 14.72m Cards, Invests$2.5Bn on ATMs
The total number of Automated Teller Machine cards issued by commercial banks in the country hit 14.72million as at the end of July this year, indicating the growing popularity of the electronic…
- 4 Nov 2014
Why & How We Engaged MasterCard in eID Card- NIMC
National Identity Management Commission (NIMC), has explained MasterCard's involvement in the national identity registration programme, while refuting claims, in several quarters, of adequacies…
- 12 Dec 2014
MasterCard Lists Expectations from Digital Financial Services Lab
MasterCard has expressed its expectations Digital Financial Services lab recently launched in East Africa with funding from the Bill & Melinda Gates Foundation. In a telephone chat with…
- 7 Apr 2015
Hackers Hit ATMs in Lagos
A large number of Automated Teller Machines located in some posh areas of Lagos like Victoria Island, Lekki Peninsula Phase I and II, and Ikoyi have been attacked by hackers and electronic…
- 4 Aug 2015
EMP CEO Visits CWG Facility
Mr. Murat Ozulku, chief executive officer, Emerging Markets Payments Group (EMP), has led a delegation of the Company’s executives on a working visit to the corporate head office of Computer…
- 18 Sept 2015
Visa Introduces EMV Chip-Based Biometrics
Visa Incorporated has introduced a new specification to use biometrics with chip card transactions. The specification can enable palm, voice, iris, or facial biometrics. This first-of-its kind…
- 29 Jun 2016
Visa Scores EMV High, Identifies 4 Pillars To Card’s Data Protection
Visa has scored Nigeria high on card payment systems’ security with 99% cards in the country running on the globally accepted EMV cards standard. EMV is global acknowledged standard for credit and…
- 5 May 2017
Digital Payments Rise to $3.9trillion by Year End
Digital payments will approach $3.9 trillion this year, representing an increase of more than 14% on last year's total globally. This is according to a new study by Juniper Research. The research…
- 9 Apr 2018
Lagos Enhances Transit Payment System with EMV Contactless Card
Commuters on the Lagos Bus Rapid Transit (BRT) system can now board buses using a contact-less card payment system. The system allows commuters who ride on BRT buses to make payments via their Lagos…
- 21 Jul 2008
New ATM Cards to Cost Banks N11bn
The financial industry will spend at least some N11 billion in the unification of cards technology and upgrade of their platforms to EMV compliant chip cards, Nigeria CommunicationsWeek…
- 15 May 2018
FirstBank Introduces Contactless Naira Mastercard
First Bank of Nigeria Limited has introduced the Contactless Naira Master Card to its array of debit cards to promote convenience, ease of transactions and the security of funds. FirstBank…
- 16 Feb 2009
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…
- 22 Jun 2009
Bukar Charges Stakeholders on EMV compliance
Kyari Bukar, managing director, ValuCard Nigeria has urged for a more rapid adoption of and compliance with EMV principles and practices by all stakeholders in the e-payment industry. This is…
- 21 Dec 2009
ATM Transactions Hit 110m in November
The volume of transactions on electronic payment devices such as the Automated Teller Machines (ATM) and Point of Sale terminals (PoS) dropped to 110 million last month due to the migration from the…