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   Market Date: 18-12-2014   
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GTBank introduces Naira denominated Mastercard

Category: Capital Market

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GTBank introduces Naira denominated Mastercard


As part of moves towards standardising e-banking services in the country, Guaranty Trust Bank has announced the introduction of the first MasterCard branded naira denominated debit cards in the world.



This innovation, which is also an ATM card, is fortified with the Chip and Pin technology and linked directly to the customer's account. It allows the cardholder 24 hours access to funds from all Automated Teller Machines (ATMs) displaying the MasterCard logo or stickers and pay for goods and services at MasterCard Point of Sale (POS) terminals.



With this initiative, existing GTBank CashPlus (ATM) cards are being phased out and replaced with the EMV-Compliant, Chip enabled GTBank MasterCard Debit (Naira) cards. However, GTBank customers will still be able to use their CashPlus debit card until expiration of their cards.



General Manager and Head, E-business at Guaranty Trust Bank, Ronke Kuye, whilst speaking on the launch said: "The Naira Denominated GTBank MasterCard Debit is a world class and innovative product that has met the stringent EMV standards and will offer enhanced security and convenience to customers of the bank."



Guaranty Trust Bank has been in the fore-front of innovation in the Nigerian banking sector since its inception with the pioneering of real time online banking in 1990 and has over the years championed the introduction of novel e-products such as Mobile, Telephone and Internet banking in 2002, Slip-free banking in 2006, Nigeria's first fully interactive self service call centre, GT Connect in 2006 as well as Drive-Through-Banking and GTBank on wheels in 2007.



Established 20 years ago in 1990, Guaranty Trust Bank currently has significant footprints in all Anglophone West African countries (Nigeria, Ghana, Gambia, Sierra Leone, Liberia) and the United Kingdom.



The bank is soon set to extend its regional network into Francophone West Africa. Guaranty Trust Bank Plc is easily recognised as one of the most innovative financial institutions in Nigeria. The bank was recently recognised as the Most Customer Focused Bank in Nigeria by KPMG in 2009 and the Most IT Driven Bank of the Year at the National Information Technology Merit awards.



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