Access Bank has launched a partnership with AfriGOpay to introduce the first live card of Nigeria’s National Domestic Card Scheme.
AfriGOpay is a financial service provider affiliated with the Nigeria Inter-Bank Settlement Scheme (NIBSS) and tasked with facilitating Africa’s first national domestic card scheme. The scheme, jointly launched by the Central Bank of Nigeria (CBN) and the Nigerian Interbank Settlement System (NIBSS), aims to deliver cutting-edge card solutions to financial service users in Nigeria, Africa, and global markets.
Commenting on the collaboration, Victor Etuokwu, the Deputy Managing Director of Retail Banking at Access Bank, stated: “It is with excitement that we announce that Access Bank, Nigeria’s largest retail bank with over 60million customers is the first financial institution in Nigeria to successfully issue the first live card of the Nigeria’s National card scheme- AfriGO.”
Robert Giles, Access Bank’s Senior Retail Advisor also noted about the new product, “The National card scheme operates locally, and it is tailored to the specific needs of the country. We have also recorded successful purchases on POS and ATMs which began on March 14, 2023. Domestic ownership of a local card scheme eliminates demand on foreign exchange and reduces cost of transacting. It will also help us partner with local fintechs and payment companies to build solutions on the AfriGO scheme that solve customers’ pain points.”
Recall that in January 2023, the CBN formally unveiled the Nigerian National Domestic Card Scheme, known as AfriGo.
According to Godwin Emefiele, the CBN Governor, “The scheme is important to plug in the gap that has remained in the economy since the introduction of the cashless policy, and will integrate the informal segment of our economy, reduce shadow banking, bring more Nigerians into the formal financial services with an attendant diversification of deposit portfolio which will further strengthen the stability of the banking industry.”
Nigeria came back from two goals down to defeat hosts Morrocco by 3 goals to… Read More
The Federal Ministry of Education has debunked claims that the Federal Government has introduced a… Read More
BUA Cement Plc has reported a 513% year-on-year increase in post-tax profit to ₦99.77 billion… Read More
The Minister of State for Industry, Trade and Investment (FMITI), Sen. John Enoh, recently inaugurated… Read More
Residents of Lagos State are to brace for a 25-day power outage as the Eko… Read More
Access Bank Plc, through its wholly owned subsidiary Access Bank UK Limited, has successfully acquired… Read More
