Visa Incorporated now has over 5 million Automated Teller Machine (ATM) cards in Nigeria, the electronic payments company revealed recently.
According to him: “The drive to make Lagos cash-less economy means that the adoption of card technology is growing at a rapid pace. While the number of cardholders is growing steadily, the number of places available to use these cards is also growing to meet increasing demand from the Nigerian consumer.”
He continued: “By employing more people on the ground and investing in local talent, we are playing our part in building capacity within Nigeria. We are also positioned to help merchants to understand the value of card acceptance and keep up with this increase in point-of-sale usage.”
Visa also plans to introduce mobile money in Nigeria.
“Through investments in mobile technology, Visa provides the underlying platform for a number of the licensed mobile money operators in Nigeria. Electronic payments are critical to development of a strong, modern economy.
“Visa products can promote transparency and accountability, reduce transaction costs and decrease the size of the grey or informal economy, all of which helps to stimulate economic growth and employment”, he added.