UBA CONTACTLESS CARDS HIT INDUSTRY HIGH OF 3MILLION
source: http://www.eyesoflagos.com/2018/02/uba-contactless-cards-hit-industry-high.html

United Bank for Africa (UBA) Plc has said it has issued over three million Near Field Communication (NFC) technology enabled contactless cards to its teeming customers bringing its total card issuance to over 13 million. Eyes Of Lagos gathered that, The bank in a statement issued yesterday said it has issued over 10 million debit and prepaid cards, serving both customers and non-bank customers in its countries of operation. UBA with operations in 19 African countries, said it had developed the NFC solution to ease transactions and to make life simpler for its customers in all parts of the world. “This has been done in response to the increasing need for digitally-driven processes as well as to develop products to meet up with the current fast-paced needs of consumers,” it said noting that the introduction of contactless payment cards which enable customers pay with ease by leveraging the NFC technology. The NFC technology allows wireless communication between devices that are a few centimeters apart. The NFC payment Card uses microchips/antenna to transmit data via shortwave radio frequencies. Usually, when one NFC-enabled device is close enough to another NFC device, a connection can be established and data shared between them. The card communicates data to the reader to initiate and complete the transaction using NFC technology. The bank said with the contactless card, users continue to experience limitless convenient payment services as the contactless payments are fast, easy and secure with the added advantage of the NFC technology which works by simply touching the card against the reader without slotting it into the terminal. Customers are also able to use the cards to pay on regular POS terminals. UBA’s Group Head, Cards, Dr. Yinka Adedeji, said, “we are delighted to reaching this milestone. Our customers have found out that with our contactless cards, they make payments for everyday essentials and other things that money can buy the contactless way, and these cards can be used across all the channels where you use your regular card – ATM, POS and Web.” He also explained that all UBA contactless cards use the Combined Data Authentication EMV Chip “which is currently the highest standard for chip technology used in payment cards to ensure that UBA contactless cards are absolutely safe.” These cards, which work anywhere in world, have over the years, made it easy for customers to have access to basic banking transactions quickly, safely, and conveniently without having to visit bank branches, via ATMs, POS and on the internet. UBA’s group managing director, Kennedy Uzoka, said the bank remains a leader in the e-banking innovation space, adding that UBA cards are protected with the best in class security tools. He said, “We have driven other initiatives such as the acceptance of international cards on our POS terminals and that UBA PoSs are now NFC enabled. Our POS terminals are also enabled for Dynamic Currency Conversion (DCC), which means customers and non-customers using foreign payment cards on our POS can see their transaction value in the currency of their card or home country; this aids transaction tracking and personal account reconciliation.”

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The poster above me....God is watching you wo

No comments and on Fp

Gagag

Lol...next time @joel1991..hahahhaahaha

Please what is contactless card?

Ok

Nice one

Good morning Nairalanders!!! It's gonna be a fab Tuesday. Cheers.

Ok

oya wo

UBA needs massive staff reorientation, their staff is killing the bank; very rude unprofessional and mostly old hands who treat customers the old way. Technology can only go as far as your staff is willing to handle customers.

tell me more. iYam not understanding

Make I follow join for FP too

No image? Mtcheww

fredpaul:
Please what is contactless card?

I think you won't have to slot the card into the machine, maybe just get the card close to a sensor, like how they do in shoprite when you buy something. Then i might not be correct someone else should help me out.

We need contactless voters card.

fredpaul:
Please what is contactless card?

This is already being used all over Europe and i have my concerns for it in Africa.

contactless card does not require you to swipe the card on any POS.

after purchasing your Item in any place. remove your card and just bring it close to the POS and it will debit your account instantly.

My card with Loydds Bank can only do maximum of 50 pounds for the contactless transaction.

anything above 50 pounds, you need to insert the card and input your password.

here is the Ish with that thingy in Naija.

If you have a mad son or a shoperholic wife, once they pick your card, they can go and buy things and return your card safely without your knowledge. they don't need your pin, just flash it and that's it.

If you misplace your card and dont block it fast enough, you will be seeing alert while your money is going without pin.

hope UBA is not just trying to be fast to launch without proper security analysis.

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kelvinklein219:

I think you won't have to slot the card into the machine, maybe just get the card close to a sensor, like how they do in shoprite when you buy something. Then i might not be correct someone else should help me out.

Contactless payments are more secure than carrying cash for a number of reasons: The information on your card is protected with secure Chip and PIN technology. Data transmitted during transactions is encrypted and protected with a digital signature that is much harder to forge than a handwritten one.

Nice one..

First it was Leo now Contactless cards.

Thumbs up to UBA

Nice

okadoo:


Contactless payments are more secure than carrying cash for a number of reasons: The information on your card is protected with secure Chip and PIN technology. Data transmitted during transactions is encrypted and protected with a digital signature that is much harder to forge than a handwritten one.

Ok i get but how is it used?

nice one

kelvinklein219:

I think you won't have to slot the card into the machine, maybe just get the card close to a sensor, like how they do in shoprite when you buy something. Then i might not be correct someone else should help me out.

Please what then happens if someone steals your card? The person can effect transactions without use of PIN on POS??

Built2last:


This is already being used all over Europe and i have my concerns for it in Africa.

here is the Ish with that thingy in Naija.

If you have a mad son or a shoperholic wife, once they pick your card, they can go and buy things and return your card safely without your knowledge. they don't need your pin, just flash it and that's it.

hope UBA is not just trying to be fast to launch without proper security analysis.

You dey para oooo

vivaciousvivi:

Please what then happens if someone steals your card? The person can effect transactions without use of PIN on POS??

Yes the person surely can, just like our normal atms, you contact your bank and report the theft then they have your card declined although according to stats if the handler/thief operate his/her pos offline it might still work but then the bank would repay you since you have reported already, at least thats what happens in Europe, i don't know about Nigeria.

I will get mine from UBA soon

I dey laugh in Greek. This country wey everybody na scammer .