TYPES OF CREDIT CARDS USED FOR BANKING TRANSACTIONS IN NIGERIA
Banks in Nigeria issue different cards to customers and charge them some fee for issuance and replacement as the case may be.
However, most people do not know the difference in the card which they hold. These cards are of different quality, global acceptability and so on. This article tends to highlight the various cards (in Nigeria) and their uses. Some of these cards include: Visa, Verve, Master card, Debit & Credit Card
This card was made for the Nigerian market and it is only acceptable
in Nigeria. The Verve card allows you to conveniently pay for goods and
services on all ATMs, as well as POS, Web, Mobile, Kiosk, PC POS, Voice
and bank branches connected to the Interswitch network.
This card is acceptable internationally. With a Visa Card, you can
pay for things on US websites like Amazon or China based websites like
Aliexpress. It is also acceptable on most ATMs and for making POS
payments. It’s also now accepted on Interswitch powered websites like
Quickteller, Jumia and Konga.
This card is acceptable internationally just like the Visa card.
It’s also accepted locally on interswitch websites like Quickteller,
Konga and Jumia.
- DOLLAR CARD
A dollar debit card, in simple terms, is a debit card that does transactions in dollar instead of naira. It is the dollar equivalent of a naira debit card.
- NAIRA CARD
While the naira debit card transactions are done in naira, the dollar debit card transactions are done in dollars. A naira debit card is attached to your savings account or current account; but the dollar debit card is attached to your domiciliary account (a foreign currency account).
It is important to note that a customer can choose to apply for a pound sterling debit card or a euro debit card, depending on his/her needs or preferences. Most people open dollar debit card because the US dollar is the most popular currency in the world and transactions done in dollars are easily convertible to other currencies.
I hope you have learnt One or Two things from today’s tutorial.