By Matthew Ojebola

Monday, 29 Nov 2010

In a bid to curb Automated Teller Machine fraud in Nigeria, 18 Nigerian banks have partnered Interswitch on its Verve card platform, to ensure security of customers‘transactions.

While speaking at the Verve card promo draw in Lagos on Thursday, the Chief Marketing Officer, Interswitch, Mrs. Tito Adeniyi-Aderoju, said the banks were partnering interswitch on its Verve platform because of the advantage it offered in terms of secured transactions.

He added that Verve offered both local and international ATM security.

She noted that among the advantages presented by Verve was that it allowed the card user to send message and block the card if the customer suspected an illegal transaction.

“All the banks partner Interswitch in terms of other products but we have about 18 banks that partner the Verve brand. The banks actually work with us because of the high security this technology presents. For instance, the card has a security chip interface which makes it verifiable by various machines whether or not the card user is truly the card holder”, she noted.

Speaking on other services provided by Interswitch, Adeniyi-Aderoju said customers could buy recharge cards and pay bill by using the card on Point of Sales terminal or on the web.

She added that the company in its agreement with different merchants provided significant discount reward in over 100 merchant locations for card holders.

She said, ”The promo is not only to reward loyal customers, but also to dwell on the benefit of verve to the public.”

A winners in the promo, Mr. Ahmed Olayinka, who won an LCD television, said the service rendered by Verve was outstanding and it had helped him to do his daily business without carrying cash around.

Source: Punch