As part of the agreement, the two companies are set to provide customers in Nigeria with a chip and PIN debit card, dubbed the MasterCard Verve.
The MasterCard Verve will enable cardholders to make purchases and access their cash at 12,000 point of sale locations, 400 online merchants and at 10,000 ATMs across Nigeria. The MasterCard-branded cards are currently accepted at 30 million acceptance locations around the world.
MasterCard Verve debit card holder’s protection is ensured by MasterCard’s Global Service and the card is replaced in case it is stolen. MasterCard Verve debit cards are expected to become available through the banks in February 2011.
InterSwitch has offered the Verve payment card brand in Nigeria since 2009. Currently, it is issued by 21 banks across the country.
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