CBN wants to end the use of Visa and Mastercard for local payments Debit Card Wallets Africa cards. Remember that the CBN announced in October 2022 that it would launch a national domestic card scheme on January 16, 2023.
CBN Governor, Godwin Emefiele said AfriGo would help reduce operating costs and charges while preserving foreign exchange. You can continue using them, but given that charges by foreign cards are in dollars, we will no longer pay dollars for the charges on those cards,” Emiefele said According to him, AfriGo attempts to provide more options for domestic consumers and not discourage international investors from operating in the Nigerian payments space.
He also said it would be less expensive and increase financial inclusion.
-
#Smart4Africa committed to connecting #africanstartups to investors & promoting ease in cross border business operations.