" ITREALMS: Banks record over 10m Verve card

Wednesday, October 06, 2010

Banks record over 10m Verve card

An estimated 10 million bank customers have acquired and used their Verve chip and Personal Identification Number (PIN) cards for various transactions, using Point of Sale (PoS).

Divisional Head, Verve Business, Interswitch, Mrs. Tobi Boshoro, disclosed this at the ongoing weekly Verve National Consumer Promotion session in Lagos.

The usage, she said, include through deployment of PoS terminals in over 13,000 merchant locations, 9,000 Automated Teller Machines (ATMs) and other channels as well as the internet.

She also said that Interswitch is organising the promo in conjunction with the banks, noting that over 10 million Verve cards have been issued so far.

“... But as at the time of going to the press only about 10 million cards are active,” she said, attributing this to the security features and reward system embedded in the Verve card.

“Over 56 bank customers from nine banks have been rewarded in the ongoing promo which would end in December,” he said.

Equally speaking, Head, Cards at Finbank, Mr. John Akpabio said that the banks have recorded many transactions and have been able to create the zeal for bank customers to acquire and use their cards.

“As a result of this promo we have recorded several transactions and that is good business for us. And of course it is good for the economy,” he said.

Stressing that the bank customers have acquired more cards as the ongoing Verve consumer promo has helped to raise card usage awareness among various bank customers.

The Verve Get & Win promo is rewarding bank customers who have obtained and used Verve card from the banks, change the PIN, and return the receipt from the ATM to the Chief Security Officer (CSO).

Additionally, this is to indicate that the PIN has been successfully changed at the bank before a customer gets a gift.

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