In a bid to strengthen Nigeria’s financial ecosystem, Access Bank has partnered with AfriGOpay, a financial services business affiliated with the Nigeria Inter-Bank Settlement System (NIBSS) to launch the first Nigerian national domestic card designed to meet the needs of the Nigerian payment industry.
The scheme, which was introduced by the Central Bank of Nigeria (CBN) and the Nigerian Interbank Settlement System (NIBSS) will provide innovative solutions to users of financial services in Nigeria, Africa, and across the global markets.
Speaking on the partnership, Deputy Managing Director, Retail Banking, Access Bank said, Victor Etuokwu said: “It is with excitement that we announce that Access Bank, Nigeria’s largest retail bank with over 60million customers is the first financial institution in Nigeria to successfully issue the first live card of the Nigeria’s National card scheme- AfriGO.”
Speaking on the product launch, Robert Giles, Senior Retail Advisor, Access Bank said, “The National card scheme operates locally, and it is tailored to the specific needs of the country. We have also recorded successful purchases on POS and ATMs which began on March 14, 2023.
Domestic ownership of a local card scheme eliminates demand on foreign exchange and reduces cost of transacting. It will also help us partner with local fintechs and payment companies to build solutions on the AfriGO scheme that solve customers’ pain points.”