UBA launches Afrigo Card, a local card scheme in Nigeria, offering affordable, secure, and accessible transactions tailored to local needs, promoting financial inclusion
[dropcap]U[/dropcap]nited Bank for Africa (UBA) Plc has introduced the Afrigo Card, a new domestic card scheme aimed at revolutionising financial transactions in Nigeria.
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The card, which was developed in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS), provides a local, naira-denominated alternative to international card schemes. It is designed to meet the diverse needs of Nigerians while promoting seamless, everyday transactions.
The launch of the Afrigo Card is in line with the CBN’s ongoing efforts to enhance financial inclusion and foster the growth of the digital economy in Nigeria.
Shamsideen Fashola, UBA’s Group Head of Retail and Digital Banking, highlighted the card’s affordability, security, and flexibility, making it a vital tool for various segments of the Nigerian population, from market women to students and low-income earners.
“With Afrigo, we are offering a card that speaks directly to the needs of Nigerians,” said Fashola. “The card’s affordability, coupled with its advanced security features, biometric authentication potential, and the ability to conduct offline transactions, positions it as a key player in promoting cashless transactions across Nigeria.”
Key Features of the Afrigo Card
The Afrigo Card boasts several features tailored to the Nigerian market, including:
- Chip-and-PIN Security: For enhanced security during transactions.
Nationwide Access: It works seamlessly at ATMs and POS terminals across the country.
24/7 Fund Access: Cardholders can access their funds at any time.
Affordable for All: The card’s cost, set at N1,000 plus N75 VAT, ensures that it remains accessible to a wide range of people.
In addition, the Afrigo Card supports low-income earners, students, artisans, and market traders, offering an efficient way to manage finances while promoting financial inclusion.
Joachim Iloemezue, UBA’s Head of Cards, emphasized the card’s importance, noting that it offers a reliable and affordable solution for everyday financial transactions.
“The Afrigo Card is a game-changer for Nigerians,” he said. “It not only provides an affordable alternative for everyday transactions but also ensures our customers enjoy enhanced security, convenience, and nationwide accessibility.”
The launch of the Afrigo Card is a significant step toward enhancing financial inclusion in Nigeria. It allows more people access to the financial system, especially those who may not have had the opportunity to use international cards.
UBA’s efforts align with the CBN’s goal of providing innovative financial products that meet the needs of various demographic groups.
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Customers can obtain the Afrigo Debit Card at any UBA branch, and with its wide-ranging benefits, it is expected to be a key player in Nigeria’s financial sector.
