Valucard Metamorphoses into Unified Payments Company

ValuCard Nigeria Limited, foremost payment industry solutions provider has shed its toga to become a Unified Payment Services Limited. Bisi Onasanya, chairman, Board of Directors, Unified Payments®, in a statement during the formal launch of the new identity in Lagos, said in 1997 a consortium of Nigerian banks came together to set up a shared infrastructure to enable electronic payments, adding that their coming together brought to life in the Nigerian payments space, the ValuCard e-Purse, the first domestic card scheme and a plastic payment card. As a forward-looking Company, Onasanya said the board approved the transformation of the company from a local card scheme to a company that can support different payment options and different card types. “I’m happy that the transformation process which started with the decommissioning of the domestic card scheme, ValuCard® is being concluded today with the unveiling of a new name and corporate identity that reflects the neutrality and global view of the Company’s new business focus. The board is confident that the Management and staff of the Company will realize the corporate objectives and vision of the Company; and we will continue to support them,” Onasanya said. Agada Apochi, managing director/CEO, Unified Payments®, assured that being a company owned by a consortium of 18 Nigerian banks, Unified Payments® will continue to operate as a shared infrastructure for Nigerian banks and service provider for the payments industry within and outside Nigeria. “Major services of our company include Processing, Acceptance; Payment Terminal Service Provider (PTSP), Switching and Value-Added Services/Solutions”. According to Agada, the new logo is beautifully crafted with a fusion of signal strength bar with an image that looks like an ‘eye’ on closer appraisal. The ‘eye’ depicted in the logo represents the value of visionary leadership of the company. It connotes vision, proactiveness, efficiency and dependability. In addition, it represents a company that keeps a watchful eye over the interest of all stakeholders. The signal bar symbolizes a strong, resilient and efficient company. It clearly emphasizes the new consumer focus of the company. Agada concluded on the elements of the logo saying “simplicity, originality and timelessness define the logo that aptly depicts ‘Enduring Vision, Rewarding Future’. The company had earlier decommissioned the ValuCard e-purse product and successfully transformed from being a card scheme to being a global Payment Industry service provider. With the transformation, the company is now poised to play as a shared services platform for all electronic payment types. Unified Payments® (formerly ValuCard®) is one of the institutions licensed by the Central Bank of Nigeria (CBN) to operate as a Payment Terminal Service Provider (PTSP). The company has been in the fore front of advancing the neutrality of card acceptance devices like the Automated Teller Machines (ATM) and Point of Sale Terminals (POS), insisting that card products from all card schemes should have access to all acceptance infrastructures which today resonates with the cashless economy policy of the CBN.