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CBN Launches Its Own Debit Card - Business (3) - Nairaland

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Re: CBN Launches Its Own Debit Card by BOYS2MEN: 8:18am On Jan 20, 2023
This is way beyond fighting against vote buyers...e b like emefiele dey confused and incompetent...since all these new naira saga....the naira still dey stagger upon dollar...what a time to be a Nigerian
postbox:

SOURCE:https://brandspurng.com/2023/01/18/cbn-launches-its-own-debit-card/
Re: CBN Launches Its Own Debit Card by Karrrion: 8:23am On Jan 20, 2023
nedekid:

The atm in your pocket is likely master or visa card. Foreign western owned companies. Charges goes to them to. While using them is good, it exposes you and other Nigerians to foreign meddling. Tomorrow, we disagree with the US and they sanction Nigeria, imagine overnight, your Master or visa card goes dead. Does not work at atms, banks, pos etc. It happened in Russia, Venezuela, Iran etc. Luckily Russia had planned ahead and had its Mir card.
The cbn one will be a localized Nigerian card, something similar to verve. Operating within Nigeria, with our local servers.
I think there is a silent movement by countries to beat the US monopoly in payment systems. Gradually, countries eg India, China, Russia, now Nigeria are setting up their payments infrastructure, when matured, they will then link them together immediately creating a rival to western payment systems..
You are the only one with insight here that has made sense.

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Re: CBN Launches Its Own Debit Card by segebobo: 8:29am On Jan 20, 2023
postbox:

SOURCE:https://brandspurng.com/2023/01/18/cbn-launches-its-own-debit-card/
Hmmm, how will this card be different from verve card
Re: CBN Launches Its Own Debit Card by pipnator00(m): 8:39am On Jan 20, 2023
nedekid:

The atm in your pocket is likely master or visa card. Foreign western owned companies. Charges goes to them to. While using them is good, it exposes you and other Nigerians to foreign meddling. Tomorrow, we disagree with the US and they sanction Nigeria, imagine overnight, your Master or visa card goes dead. Does not work at atms, banks, pos etc. It happened in Russia, Venezuela, Iran etc. Luckily Russia had planned ahead and had its Mir card.
The cbn one will be a localized Nigerian card, something similar to verve. Operating within Nigeria, with our local servers.
I think there is a silent movement by countries to beat the US monopoly in payment systems. Gradually, countries eg India, China, Russia, now Nigeria are setting up their payments infrastructure, when matured, they will then link them together immediately creating a rival to western payment systems..


I understood all you wrote but unfortunately that's not what CBN is doing. Rather they would be issuing master/visa card under CBN , just as other commercial banks are doing. In effect they would be competing with the commercial banks for clients. This actually should worry everyone because the CBN is leaving it's role as the banker's bank to venture into commercial banking. Moreover what happened to the e-Naira they made so much noise about?
Re: CBN Launches Its Own Debit Card by sircatherine45(m): 8:42am On Jan 20, 2023
adioolayi:
Launch it with zero fee card maintenance levy and see it grow.

The way banks dey deduct money these days...e get as e be

or with one time yearly payment. I'll be interested.
Re: CBN Launches Its Own Debit Card by luluosas(m): 8:55am On Jan 20, 2023
A good move in the right direction
Re: CBN Launches Its Own Debit Card by hkidola00(m): 8:57am On Jan 20, 2023
mactoni91:
Atleast Emefiele is now doing his Part to Redeem Nigeria.

But what took him this Long?
it took him long because he lost the primary to Tinubu
Re: CBN Launches Its Own Debit Card by omoadeleye(m): 9:10am On Jan 20, 2023
Adaorababy:
We're still deliberating if it's necessary to accept this fake new notes that stains, you're busy introducing another fake debit card that will most likely give incessant network issues.

CBN, pls face your work and stop meddling in activities that's unrelated to your scope just because you're perceived to be autonomous!



Stfu, you this enemy of progress.

1 Like

Re: CBN Launches Its Own Debit Card by temielects(m): 9:15am On Jan 20, 2023
Okay sound so good until we can't see traces this was introduced in a later time like the enaira we all applauded.
Re: CBN Launches Its Own Debit Card by goddy28686: 9:16am On Jan 20, 2023
E Naira, how far, and now this one. Hope our mumu never do shocked looking in 3D.
Re: CBN Launches Its Own Debit Card by fem6naxy: 9:18am On Jan 20, 2023
I've got a 625sqm plot of land with builded foundation of 2 bedroom apartment and self contain located at Obada, Abeokuta, Ogun State.Abuja. with accessible road. for more enquiries call: 07025264741

Re: CBN Launches Its Own Debit Card by Mulatta(m): 9:21am On Jan 20, 2023
pipnator00:


I understood all you wrote but unfortunately that's not what CBN is doing. Rather they would be issuing master/visa card under CBN , just as other commercial banks are doing. In effect they would be competing with the commercial banks for clients. This actually should worry everyone because the CBN is leaving it's role as the banker's bank to venture into commercial banking. Moreover what happened to the e-Naira they made so much noise about?

Cbn is not venturing into commercial banking, what he meant was Nigerians banks like GTB and access will be using a cbn issued card. Instead of relying on a foreign companies infrastructure to process payment, we will be using ours.
And the benefit includes
1.transactions won't be affected by international fluctuations in FX "dollar will be stable and black market will crash".
2.Event like Ukraine war won't affect Nigeria.
3.there will be less charges on the card,
4. It will make Nigeria more accessible to other forms of currency pairs if integrated into the BRICS monetary system, it's why countries like Brazil, India,chima, Russia and more countries are implementing this system like saudi Arabia.
5. It will reduce the demand for dollar and reduces USA bullying.

This is a very good decision by cbn

2 Likes

Re: CBN Launches Its Own Debit Card by OlujobaSamuel: 9:31am On Jan 20, 2023
appishani1:
I think we should support this man on this.
This is a very good idea.
Nothing good about it.
The contract will be given to someone, they will include one form of subsidy so people can embrace it, then it gets riddled with corruption

1 Like

Re: CBN Launches Its Own Debit Card by mechanics(m): 9:39am On Jan 20, 2023
I just hope the card won't be expensive.
Re: CBN Launches Its Own Debit Card by chatinent: 9:42am On Jan 20, 2023
I personally like this idea. It's long overdue. I also like the eNaira but it's not being managed properly.


We create many things we can't manage.

Well, if we want to pay a bill and it malfunctions but we are debited, how do we resolve it? Which bank?

1 Like

Re: CBN Launches Its Own Debit Card by Tundex911: 9:49am On Jan 20, 2023
Awon weyrey gbogbo

Economy no good dem dey introduce card up and down lol
Re: CBN Launches Its Own Debit Card by tiswell(m): 10:03am On Jan 20, 2023
meobizy:
Somebody should please explain how this is different from the ATM card in my wallet.
Re: CBN Launches Its Own Debit Card by Qatar2022: 10:04am On Jan 20, 2023
Adaorababy:
We're still deliberating if it's necessary to accept this fake new notes that stains, you're busy introducing another fake debit card that will most likely give incessant network issues.

CBN, pls face your work and stop meddling in activities that's unrelated to your scope just because you're perceived to be autonomous!
Keep quiet mumu, good things always sound stupid in a foolish man ear
Re: CBN Launches Its Own Debit Card by gfelo(m): 10:04am On Jan 20, 2023
i see some bank card bcome irrelevant, Emefiele matching more foot, after politician bought all the new note sent to bank, this pple will dvice another way to stop u.
Re: CBN Launches Its Own Debit Card by seunayantokun(m): 10:05am On Jan 20, 2023
I support the scheme though I stay away from Buhari and Emefiole's evils
Re: CBN Launches Its Own Debit Card by thonylinks: 10:06am On Jan 20, 2023
You should be more CONCERNED with the raising inflation rate.
Adaorababy:
We're still deliberating if it's necessary to accept this fake new notes that stains, you're busy introducing another fake debit card that will most likely give incessant network issues.

CBN, pls face your work and stop meddling in activities that's unrelated to your scope just because you're perceived to be autonomous!
Re: CBN Launches Its Own Debit Card by Nobody: 10:26am On Jan 20, 2023
Make them drop credit card.
Re: CBN Launches Its Own Debit Card by nedekid: 11:13am On Jan 20, 2023
pipnator00:


I understood all you wrote but unfortunately that's not what CBN is doing. Rather they would be issuing master/visa card under CBN , just as other commercial banks are doing. In effect they would be competing with the commercial banks for clients. This actually should worry everyone because the CBN is leaving it's role as the banker's bank to venture into commercial banking. Moreover what happened to the e-Naira they made so much noise about?

https://punchng.com/cbn-domestic-card-scheme-takes-off/

"The card is expected to compete with other debit cards, including Mastercard, Visa, and Verve cards operating in Nigeria."

Today’s deployment will enlist Nigeria into the growing list of countries like India, Turkey, China, and Brazil that have launched similar cards for domestic use.

“The plan is to deliver Africa’s first central bank-driven, domestic card scheme that combines a fully domestic infrastructure with international interoperability. Our plans will enable us to pivot into the largest card scheme in Africa, and amongst the biggest globally.”

It is not affiliated to mastercard or visa. In future, it will be linked to mastercard, visa, Mir, Indian, Turkish, Chinese networks and more as countries find out the unreliability of western payment systems.
Re: CBN Launches Its Own Debit Card by winner37(m): 11:51am On Jan 20, 2023
I swear I will use the Debit card on CBN ATM only any time I want to withdraw money ABUJA straight...
Re: CBN Launches Its Own Debit Card by Novice1(m): 11:54am On Jan 20, 2023
Hw wants us to forget the Stamp duty scandal
Re: CBN Launches Its Own Debit Card by Lifestone(m): 12:09pm On Jan 20, 2023
meobizy:
Somebody should explain how this is different from the ATM card in my wallet.
The card in your wallet is either that of Mastercard of Visa Card, both are foreign owned
Re: CBN Launches Its Own Debit Card by Lifestone(m): 12:11pm On Jan 20, 2023
OlujobaSamuel:

Nothing good about it.
The contract will be given to someone, they will include one form of subsidy so people can embrace it, then it gets riddled with corruption
Do you understand what CBN is saying?
Re: CBN Launches Its Own Debit Card by bassdow: 12:11pm On Jan 20, 2023
nedekid:

The atm in your pocket is likely master or visa card. Foreign western owned companies. Charges goes to them to. While using them is good, it exposes you and other Nigerians to foreign meddling. Tomorrow, we disagree with the US and they sanction Nigeria, imagine overnight, your Master or visa card goes dead. Does not work at atms, banks, pos etc. It happened in Russia, Venezuela, Iran etc. Luckily Russia had planned ahead and had its Mir card.
The cbn one will be a localized Nigerian card, something similar to verve. Operating within Nigeria, with our local servers.
I think there is a silent movement by countries to beat the US monopoly in payment systems. Gradually, countries eg India, China, Russia, now Nigeria are setting up their payments infrastructure, when matured, they will then link them together immediately creating a rival to western payment systems..

...but isn't Verve owned by InterSwitch, a Wholly owned Nigerian company ?

is CBN leaving their role of REGULATOR ?

1 Like

Re: CBN Launches Its Own Debit Card by Tunagee(m): 12:12pm On Jan 20, 2023
nedekid:

The atm in your pocket is likely master or visa card. Foreign western owned companies. Charges goes to them to. While using them is good, it exposes you and other Nigerians to foreign meddling. Tomorrow, we disagree with the US and they sanction Nigeria, imagine overnight, your Master or visa card goes dead. Does not work at atms, banks, pos etc. It happened in Russia, Venezuela, Iran etc. Luckily Russia had planned ahead and had its Mir card.
The cbn one will be a localized Nigerian card, something similar to verve. Operating within Nigeria, with our local servers.
I think there is a silent movement by countries to beat the US monopoly in payment systems. Gradually, countries eg India, China, Russia, now Nigeria are setting up their payments infrastructure, when matured, they will then link them together immediately creating a rival to western payment systems..

Brilliant

1 Like

Re: CBN Launches Its Own Debit Card by Olumaeme: 12:32pm On Jan 20, 2023
What is wrong with this CBN?

Its not the business of CBN to help Nigerian open and run account, they are A REGULATOR and cant be a SERVICE PROVIDER.

The same way they launched the eNaira.

1 Like

Re: CBN Launches Its Own Debit Card by nedekid: 12:43pm On Jan 20, 2023
bassdow:


...but isn't Verve owned by InterSwitch, a Wholly owned Nigerian company ?

is CBN leaving their role of REGULATOR ?
Yes, Verve is owned by InterSwitch. Their own alliance is with the discovery card network, not the regular master and visa card. It is also our own home grown card. The difference is that it is private sector driven.
Anyway, cbn on is good as it is a national home grown card. It is good for national security reasons.

https://www.ft.com/content/0bdef21b-426e-4e98-9a25-998c9bad500c
Re: CBN Launches Its Own Debit Card by Skatecamp(m): 12:48pm On Jan 20, 2023
meobizy:
Somebody should explain how this is different from the ATM card in my wallet.
instead of ur maintenance money going to foreigners..it will now go to nigeria 😂

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