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 Nigeria’s online bank Eyowo Launches Panless Debit Card in Partnership With MasterCard

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Eyowo, a Nigerian online bank,  has announced the launch of a digital first debit card  Labeled “ e Better Card” The Eyowo debit card is a numberless Mastercard which gives cardholders access to a safer and seamless payment experience that eliminates the risk of card fraud by safely storing their payment credentials in the Eyowo X mobile app.

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Omoseindemi Olubayo, CEO of Eyowo, in his keynote confirmed that that this is one of the major strides the company has made to provide banking services that prioritize the relationship Nigerians and Africans have with money. Customers will also receive an innovative physical card, which doesn’t contain sensitive information such as the card number and expiration date, providing ultimate protection for the theft of personal and financial information.

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In a session explaining how the card works, Nimide Fala, Eyowo’s Chief Marketing O£ficer, gave a short demo of e Better Card. e card’s PAN and expiry date are stored digitally on the bank app. Another interesting thing that can be done with the Eyowo App is freezing spending or creating spending limits on the card.

Discussing the motivation for creating the card, the Eyowo team said user security was the primary idea on which it was designed.They have created an experience that relieves your worries about financial safety and enables you to prioritize what is most important to you – your money.

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Giving insights into Mastercard’s partnership, Kari Tukur, MasterCard SSA Vice President mentioned that at MasterCard, they believe in enabling end-to-end digital access from the point where a new consumer is onboarded to the point of transaction.

She said it’s one of the principles on which the MasterCard Digital First programme is built, which was why it was easy to work on e Better Card project with Eyowo. It  has been a three-year project for the Eyowo Team, whilst pursuing and putting better user-security at the core of their minds.

 

 

 

 

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Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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