Nigeria: FCMB launches new range of free Visa cards

Feb 12, 2013

First City Monument Bank (FCMB) has launched a new range of Naira Visa Cards, available in debit, credit and prepaid variants, it has been announced.

First City Monument Bank (FCMB) has launched a new range of Naira Visa Cards, available in debit, credit and prepaid variants, it has been announced.

FCMB's Divisional Head of Retail Banking Shiba Ghosh told This Day that the bank is "excited to be introducing these internationally acceptable Visa Naira denominated cards which come in three variants and provide our customers the convenience to transact anywhere in the world".

The cards offer various benefits such as discounts on purchases at certain merchant locations and a secure functionality - Verified by Visa - which is a second level authentication service for online purchases.

The cards can be used worldwide and can be sourced from the bank's distribution network, which includes 271 full service branches.

In June 2012, Visa announced that its client financial institutions in Nigeria have distributed five million cards on the market within five years.

This surge in card issuance comes on the back of a solidly growing infrastructure with over 5000 merchants in Nigeria, 7000 merchant outlets and 8000 ATMs, said Visa in a press release.

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