UBA issues 3m contactless cards

By | February 20, 2018

United Bank for Africa (UBA) Plc yesterday said it issued over three million Near Field Communication (NFC) technology enabled contactless cards to its teeming customers.

In a statement, the lender recalled that it “revolutionised the payments landscape in Nigeria in 2015, with the introduction of contactless payment cards, which enable customers pay with ease by leveraging the NFC technology.

 The NFC technology allows wireless communication between devices that are a few centimetres apart.

The NFC payment Card according to the statement, uses microchips/antenna to transmit data via shortwave radio frequencies. Usually, when one NFC-enabled device is close enough to another NFC device, a connection can be established and data shared between them.

 The card communicates data to the reader to initiate and complete the transaction using NFC technology. In addition to the contactless cards, UBA said it had issued well over 10 million debit and prepaid cards, serving both cus 2018tomers and non-bank customers in its countries of operation.
 With the contactless card, the lender said users continue to experience limitless convenient payment services as the contactless payments are fast, easy and secure with the added advantage of the NFC technology, which works by simply touching the card against the reader without slotting it into the terminal.

Customers are also able to use the cards to pay on regular POS terminals.

 UBA’s Group Head, Cards, Dr. Yinka Adedeji, said, “We are delighted to reaching this milestone. Our customers have found out that with our contactless cards, they make payments for everyday essentials and other things that money can buy the contactless way, and these cards can be used across all the channels where you use your regular card – ATM, POS and Web”.

UBA’s Group Managing Director, Kennedy Uzoka, said the bank remains a leader in the e-banking innovation space, adding that UBA cards are protected with the best in class security tools.

Source: New Telegraph