The Central Bank of
The launch becomes
Chief Executive Officer, 03
He argued that "In
There is no risk without a reward. If we as Nigerians don't take risks, our economy will not develop. It is our philosophy that every Nigerian would have credit card in their wallets. We cannot develop without a credit card system".
He explained that the credit card works on the Interswitch network which means they can be used on all Automated Teller Machines, ATMs, Point of Sales Terminals, POS and Nigerian internet payment sites in
Pinheiro also flaunted the security compliance of the initiative, declaring: "Our entire operating systems run on certified platforms that are PCI DSS certified in line with international security standards as issued by
The Card enterprise infrastructure is driven by an ultramodern Card Management System that is provided by a leading Canadian software company,
"Our infrastructure provides a robust experience for the cardholder while guaranteeing transaction and data security in line with the international EMV standard and best practices. Our Risk management System is integrated with the Credit Bureaus to provide a thorough and efficient credit appraisal system".
"The O3 selection process is extremely thorough with a high level KYC scrutiny in line with our philosophy of 'right customer low risk'. The IT infrastructure is integrated with the existing credit bureaus which enables an automated credit history review of each applicant. The card management system has a predictable risk management and anti-fraud solution.
While also endorsing the product,
There have been collaboration with the banks and other institutions to develop this product. We need collaboration to make our system work well. This product is robust and needs the collaboration of all stakeholders to make it succeed."
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