Afribank launches Nigeria’s ‘first true credit card’
•Strengthens hold on e-products
12.19.2008

Friday, December 19, 2008



Afribank Nigeria Plc, one of Nigeria’s leading financial services providers, yesterday further strengthened its hold on the e-banking and e-commerce services space with the formal launch of the first Nigerian true Visa Credit Card into the global banking market.



The Afribank Dual Currency range of Credit Cards is the first real credit card in Nigeria for which customers are not required to provide collateral. It is specifically designed to meet the varied needs of modern banking customers at home and abroad, and is available to both customers and non-customers of the Bank.

The Bank, has in the past two years, taken giant strides to ensure that its fast growing customer base enjoys world-class services and to confirm its leadership in e-commerce. As part of the bank’s ongoing aggressive transformation effort, Afribank introduced Visa Credit Card, an international credit card, issued in partnership with Visa Incorporation. It is a dual currency Credit Card which is globally recognized as a Card payment system for acquiring goods and services from merchant locations and obtaining cash from automated teller machines (ATM) carrying the Visa logo.

According to the Bank, “With Afribank Dual Currency Visa Credit Card, the world opens up as holders can visit countries abroad without the burden of carrying cash, shop in stores abroad, on the internet, by telephone or mail order. The Card will eliminate inconveniencies and hardship often faced by customers while paying for goods and services with cash or cheque. The use of the card will also remove the challenges of making payments for goods and international services on the internet”.

For the first time in the history of International Credit Cards, Afribank is introducing themed cards which will appeal to different customer groups. The Afribank Visa Credit Card comprises four categories that are designed to suit different tastes and lifestyles, income grade, emotional appeal, and preference.

These are: Platinum Dual Currency VISA cards and GOLD Dual Currency VISA cards, which are designed for high net worth individuals, elite customers with high value transactions; Classic Dual Currency VISA Credit card is for the middle income class.

The Visa Classic Package has four variants that are customized for ladies, youths, sports lovers and the aspiring personalities. They are: Chic - for women of style, Hype - for the youth and young at heart, Sports Life - for the sports enthusiasts and Aspire - for aspiring affluent.

There is also Prepaid VISA card which is a pre-loaded VISA card, available for amount up to $5000 at any Afribank branch for walk-in customers who may be interested in using VISA to make one off payments locally and abroad.

Afribank Visa Credit Card is a preferred alternative to cash and cheque for settlement and payment transactions for goods and services locally and abroad. The introduction of the card has entrenched further Afribank’s hold on the e-banking products market.

Afribank Visa Credit Card is uniquely designed to offer more convenience and benefits. Some basic features of the Cards are: Dual-currency which enables holders to be linked to both naira and domiciliary accounts. It is locally and internationally accepted at over 30 million merchants and ATM locations, secured with unique PIN and chip and open to both account holders and non-account holders.

To ensure that customers get the best of value as Visa Card holders, Afribank has partnered businesses identified in their industry as “best of breed.” These businesses serve as the medium that give our customers lifestyle benefits by offering them services delivered with an extra factor exclusive to them.

Products are offered at special pricing configurations to our varying category of customers. This mutual business relationship is called the Afribank Visa Credit Card Reward. Some Afribank reward partners are: AVIS – A global leader in the car rental service; Cash ‘N’ Carry – With heritage of being in the frontline of household technology products; Protea Hotel, Leadway, Ikeja – An ace in the hospitality industry; Healthplus – A leading pharmacy chain; and Montaigne Spa – For total wellbeing. These are just a few of the benefits that will be available to all Afribank Visa card holders.

The management of Afribank stated that Visa Credit Cards would enable it satisfy the needs of its diverse and growing customers across the world and further position it to offer more value to the banking public.

“The Bank sees the development as an opportunity to extend the value of international credit card to its customers, empower the banking public and drive convenient and efficient global commerce,” it said.

Afribank has many industry-firsts to its credit and currently offers wide range of e-banking products that are redefining banking services such e-NYSC, e-Immigration, e-courier, e-registration, e-collections and several others.

http://odili.net/news/source/2008/dec/19/212.html