Babajide Komolafe
29 December 2008
The seven variants of dual currency Visa Credit Cards introduced by Afribank PLC have increased the opportunity for members of the banking public and indeed Nigerians, irrespective of age, class and profession to own a Visa Credit card.The bank, in apparent bid to meet the varied needs of modern banking customers as well as to further strengthened its hold on the e-banking and e-commerce services space recently unveiled seven variants of the Visa Credit cards comprising four different categories that are designed to suit different tastes and lifestyles, income grade, emotional appeal, and preference. The cards also come as theme cards, the first theme cards in the history of International Credit Cards.
These credit cards are: Platinum Dual Currency VISA cards and GOLD Dual Currency VISA cards which are designed for high networth individuals, elite customers with high value transactions; Classic Dual Currency VISA Credit card is for the middle income class. The Visa Classic Package has four variants that are customized for ladies, youth, sports lovers and the aspiring personalities. They are: Chic - for women of style, Hype -for the youth and young at heart, Sports Life - for the sports enthusiasts and Aspire - for aspiring affluent.
There is also Prepaid VISA card which is a pre-loaded VISA card, available for amount up to $5000 at any Afribank branch for walk-in customers who may be interested in using VISA to make one off payments locally and abroad.
Afribank is one of the leading Nigerian banks especially in the provision of electronic banking services. Recently the bank embarked on an aggressive transformation process geared towards providing its fast growing customer base enjoys world-class services and to confirm its leadership in e-commerce. The introduction of the dual currency Visa Credit card- an international credit card, issued in partnership with Visa Incorporation credit cards is part of the aggressive transformation of the bank.
Mr. Sebastian Adigwe, Group Managing Director/Chief Executive of the bank, explained the rationale for the introduction of the card. According to him, the Afribank Visa credit card provides the bank the opportunity to add value the lives and businesses of its dear customers.
"The introduction of the Afribank Visa Credit Cards into the global market has also strengthened the Bank's hold in the e-banking and e-commerce service. With the introduction of Afribank Visa Credit Card the Bank has become more global in operations and competitive in service delivery.
In the last two years, the Board and the Executive Management, with the support of stakeholders embarked on a strategic transformation of this financial conglomerate to make it responsive to the dynamics of the global market, the needs and aspirations of our esteemed customers. Our goal is to redefine the Bank's focus, operational processes and to leverage on technology to create innovative products to strengthen our competitive capability globally.
With all these and more, we assure stakeholders that the new Afribank is well positioned to offer best service to any banking customer anywhere in the world and meet their expectations. Our shareholders will also continue to get competitive returns as the Bank is being placed on the path of sustainable path.
Afribank came out with Visa Credit Card because we are conscious that it would enable it to satisfy the needs of its diverse and growing customers across the world and position it to offer more value to the banking public. The Bank sees the development as an opportunity to extend the value of international credit card to its customers, empower the banking public, drive convenient and efficient global commerce. This has undoubtedly position the Bank further to meet the needs of modern banking customers."
Visa is the recognized globally leading payment solution that provides easy, fast and convenient payment. Visa is accepted in over 170 countries and 30 million outlets worldwide. The Visa credit card is a card payment system for acquiring goods and services from merchant locations and obtain cash advances from automated teller machines (ATM) carrying the Visa logo. By implication holders of the Afribank Visa credit cards can use the card to obtain cash or purchase goods and services in the 170 countries and 30 million outlets where Visa cards are accepted around the world.
Thus Afribank Dual Currency Visa Credit Card opens up the world as holders can visit countries abroad without the burden of carrying cash, shop in stores abroad, on the internet, by telephone or mail order. The Card will eliminate inconveniencies and hardship often faced by customers while paying for goods and services with cash or cheque. The use of the card will also remove the challenges of making payments for goods and international services on the internet
Afribank Visa Credit Card is a preferred alternative to cash and cheque for settlement and payment transactions for goods and services locally and abroad. The introduction of the card has entrenched further Afribank's hold on the e-banking products market.
Afribank Visa Credit Card is uniquely designed to offer more convenience and benefits. Some basic features of the Cards are: Dual-currency which enables holders to be linked to both naira and Domiciliary accounts. It is locally and internationally accepted at over 30 million merchants and ATM locations, secured with unique PIN and chip and open to both account holders and non-account holders.
To ensure that customers get the best of value as Visa Card holders, Afribank has partnered with businesses identified in their industry as "best of breed." These businesses serve as the medium that give our customers lifestyle benefits by offering them services delivered with an extra factor exclusive to them. Products are offered at special pricing configurations to our varying category of customers. This mutual business relationship is called the Afribank Visa Credit Card Reward. Some Afribank rewards partners are, AVIS - a global leader in the car rental service, Cash 'N' Carry - With heritage of being in the frontline of household technology products, Protea Hotel, Leadway, Ikeja - an ace in the hospitality industry, Healthplus - a leading pharmacy chain, and Montaigne Spa - for total wellbeing. These are just a few of the benefits that will be available to all Afribank Visa card holders.
Afribank parades a range of industry-firsts electronic banking products which have attracted millions of Nigerians especially youths into the global electronic commerce industry. These include e-NYSC, e-Immigration, e-courier, e-registration, e-collections and several others.
In confirmation of its leadership position in the Nigerian banking industry, Afribank recently posted N17.22billion pretax for the half year ended September 30, 2008. The figure, which has surpassed the last financial year's twelve-month result, represents a 113 per cent increase from the N8.1 billion recorded in the corresponding period last year. The result no doubt confirms the ability of the bank's management to sustain its success streak of growing its fundamentals above industry rate.
Be the first to Write a Comment!
Copyright © 2008 Vanguard. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
