Kennedy Uzoka, group managing director, United Bank for Africa (UBA), has said that the bank remains a leader in the e-banking innovation space.
Uzoka stated this as the Pan-African financial institution,has again demonstrated its superiority in the Nigerian e-Banking space with the issuance of over three million Near Field Communication (NFC) technology enabled contactless cards to its teeming customers
The UBA boss said 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.”
UBA has revolutionised the payments landscape in Nigeria in 2015, with 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 centimetres 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.