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The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card - Business - Nairaland

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The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by EndyEdesonNews(m): 2:24pm On Sep 09, 2018
There are two main types of cards, debit cards, and credit cards. Credit cards allow the holder to make purchases on credit, whereas the debit visa card holder needs to have the amount plus some transaction fee in his or her account to be able to make any payment using the debit card. As the name suggests the amount is debited from card holder’s account immediately when the debit card is used.
This is opposed to a credit card where the cardholder does not need to have the amount he or she is going to spend. As long as the amount is within the ‘credit limit’ of the card the transaction will be carried through and the holder will have to return the money to the card company in installments or in one single payment…

NOW, THE MEANING OF VISA CARD, VERVE CARD, MASTERCARD, NAIRA CARD, DOLLAR CARD
A Nigerian who goes to a bank to apply for a card might be a bit confused as to which one to choose. I was. This is because most banks provide up to 3 options to choose from; Verve, MasterCard and Visa. What is the difference between them all? Which offers the best benefits?

1. VERVE 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.

2. VISA CARD:
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.

3. MASTERCARD:
This card is acceptable internationally just like the Visa card.
It’s also accepted locally on interswitch websites like Quickteller,
Konga and Jumia.

4. 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.

5. 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.

Source: http://www.edesononlinenews.com/2017/11/the-meaning-of-visa-verve-mastercard.html

45 Likes 5 Shares

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Nobody: 2:28pm On Sep 09, 2018
Nice work

2 Likes

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by dynicks(m): 2:32pm On Sep 09, 2018
MODS! MODS! abeg push to front page!....it's very much worth it!

7 Likes 1 Share

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Nobody: 2:47pm On Sep 09, 2018
cool thankssssssssss

1 Like

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by medexico(m): 3:16pm On Sep 09, 2018
Useful

1 Like

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by DAntivirus: 7:00am On Sep 10, 2018
6. VOTERS CARD: Comes in two variant. Temporary and Permanent. Mainly used in voting out lifeless and corrupt criminals back to Daura. Highly purchased/bought during elections by political criminals.

150 Likes 7 Shares

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by shilexholly(m): 7:02am On Sep 10, 2018
Oniro oshi
Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Abbey2sam(m): 7:03am On Sep 10, 2018
Ok
Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by zone51: 7:03am On Sep 10, 2018
What's the difference between Verve card & Naira card? cheesy

6 Likes 1 Share

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Juliearth(f): 7:03am On Sep 10, 2018
Good job!
Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by OCTAVO: 7:04am On Sep 10, 2018
Okay
Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Sanemind(m): 7:04am On Sep 10, 2018
What about itune cards? cool

1 Like

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by kalvoken(m): 7:05am On Sep 10, 2018
How about RED AND YELLOW CARD.

yellow card could be used im different ways.

RED CARD, hmm come February 2019 it buhari will take to daura

12 Likes

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by drey69(m): 7:05am On Sep 10, 2018
iTunes card

Amazon gift card are not cards again?

24 Likes

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by EzendiEgo1: 7:05am On Sep 10, 2018
Who no know all this rubbish

2 Likes

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Wayne4uall(m): 7:06am On Sep 10, 2018
Can I use my gtb master care to pay on playstore

1 Like

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by kokomaster3d: 7:07am On Sep 10, 2018
And banks will not explain this to customers
ThanKS OP

7 Likes

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Ahmeduana(m): 7:07am On Sep 10, 2018
Yes, I learn a lot thanks.

9 Likes

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Mankosi: 7:13am On Sep 10, 2018
Nice
Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by frankotele(m): 7:13am On Sep 10, 2018
zone51:
What's the difference between Verve card & Naira card? cheesy
They are both CARDS just that one is a VERVE CARD and THE Other one is a NAIRA CARD

10 Likes

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Chibuzoc(m): 7:17am On Sep 10, 2018
National Id card is a fake paper issued by the govt even banks rejects it as a means of identity grin grin

3 Likes

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by webincomeplus(m): 7:18am On Sep 10, 2018
frankotele:
They are both CARDS just that one is a VERVE CARD and THE Other one is a NAIRA CARD
You no go kill person with laugh. See useless answer!

7 Likes 2 Shares

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Seconsol92(m): 7:18am On Sep 10, 2018
Informative
Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by ybalogs(m): 7:24am On Sep 10, 2018
Good morning Nairalanders.

Its a great day

Today is the Start of the school session in many schools. Therefore it's time to pay fees, do business and improve lives.

Its also a time to pray. Please spare a prayer for our school system

1. Pray that our schools are protected. No breach this year
2. Pray that learning will be impactful and effective. That education achievement will be significant and obvious

3. Pray for all stakeholders... Teachers, headteachers, care givers, support staff, school owners. That they will be focussed

4. Pray for parents. For finances to pay fees. For wisdom to devote time to support their children's education

5. Pray for government. Particularly for all the government officials in education who don't seem to know what to do.

6. Pray for Leah Sharibu, the chibok girls. Let's pray that never again will such happen

7. Pray that we shall all be alive with our children to celebrate the end of this session in joy, health and bliss.

Its a season for your child to blossom in school. Fear not, your child is a genius.

7 Likes

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by stano2(m): 7:24am On Sep 10, 2018
Op am in a mess because of these cards.
I used first bank mastercard for an online payment, it was not approved but i was debited ,i have gone to the, filled a form.

3days ago made it 1month and am yet to get my money back, i only got a message that my complaint has been resolved and closed, that i should contact my merchant. undecided

When i had similar issue with Diamond bank, i got my money after weeks and was never directed to contact anybody.

First bank just weak me, they have lost it.
you buy airtime with ussd code, if an error should occur , you lose both the money and airtime same with using their mobile app.
I don't understand first bank way at all.

7 Likes

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by hardywaltz(m): 7:26am On Sep 10, 2018
Good
Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Exponental(m): 7:36am On Sep 10, 2018
lemme check mine

1 Like

Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by XOGBADO(m): 7:37am On Sep 10, 2018
Wow! This is great.
Dem banks no go tell you this one
Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by uwa1(m): 7:43am On Sep 10, 2018
THANKS..
Re: The Meanings Of Visa, Verve, Mastercard, Naira, Dollar, Debit & Credit Card by Chuks9000: 7:43am On Sep 10, 2018
At the moment, there is nothing like (stand alone) dollar or naira card.
It's either a debit or credit card.
They come definitely in a currency - Naira, dollar etc.
The companies mentioned are popular companies who "produce" these debit or credit cards.
Just think of it as types/categories of vehicles (salon, suv, pickup...) on one hand and on the other hand, the companies who manufacture these vehicles (toyota, honda...).

3 Likes

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