I have read several serious complaints from ATM card holders, about using their cards in Nigeria. I once saw a hilarious headline on a popular Nigerian web forum where a poster mischievously defined ATMs as “Automated Thieving Machines” The only serious problem I have experienced with using an ATM in Nigeria was due to network [...]

Long after several people have been defrauded of their money through social engineering scams, Interswitch Nigeria the leading issuer of local ATM/Debit cards appears to be acting now. According to a recent report by Daily Trust: Interswitch Nigeria Limited in collaboration with banks last week inaugurated an awareness campaign to protect ATM card holders against [...]

Standard Chartered Bank Nigeria has joined the Interswitch payment network in Nigeria. This blog post also includes a full list of all the Nigerian banks on the Interswitch network.

Zenith Bank is now issuing Visa credit, debit and prepaid cards in Nigeria. Visa is fast gaining acceptance in Nigeria.

In December 2007, I was sharing my frustration about GT Bank Nigeria in a blog post titled: Woes of a Nigerian Internet Banking Customer. Till date, things have virtually remained the same – 3rd party funds transfer using the Internet Banking facility offered by GT Bank is still restricted. Well, things have just got even [...]

A news item on Vanguard’s website indicates that Nigerian-issued Etranzact cards can be used on Etranzact-linked ATMs in Ghana and vice-versa: A very big one is the possibility of Nigerian and Ghanaian eTranzact cardholders to withdraw cash from any ATM in Nigeria and Ghana and have their accounts debited accordingly. This service is designed for [...]

Something new is coming to town this April 2008. E-zwich. What is E-Zwich? E-Zwich is the brand name for the National Switch, under the new Universal Electronic Payments (UEPS) technology which would ensure that all commercial banks, rural banks and savings and loans institutions in Ghana implemented a common payment platform and biometric Smartcard. To [...]

Scam emails have been circulating the Internet for sometime now, attempting to trick people into entering their bank account login details into a fake version of their financial institution’s website. This criminal activity is known in Internet security circles as Phishing. To drive-home the point, I am quoting Wikipedia‘s accurate description of Phishing: In computing, [...]

This blog post is a direct response to Erik Hersman’s blog post: The problem with e-commerce and online payments in Africa. Erik Hersman, a fellow African blogger, shared his thoughts about the need for an African e-payment system. He starts with a lamentation that is indeed true: A lack of true online payment options is [...]

Ecobank Ghana Limited, the local subsidiary of the pan-African Ecobank has chalked another first, by being the first bank in Ghana to offer a credit card. The card is not only denominated in cedis, but is also acceptable at any VISA ATM or Point-of -Sale, in Ghana and around the globe. The new credit card [...]

Paypal has expanded even further in more countries in Africa, and other parts of the world. I have highlighted the African countries below: The new markets that can now use PayPal to send money online include: Albania, Algeria, Angola, Antigua and Barbuda, Armenia, Azerbaijan Republic, Belize, Benin Republic, Bhutan, Bolivia, Bosnia and Herzegovina, Bulgaria, Burkina [...]

BusinessWeek recently published an article putting e-gold in the spotlight, after its offices was raided by the Federal Bureau of Investigation (FBI) agents, in the USA. Read on…

In most African countries, credit/debit cards are not commonplace. Thus, the few enlightened ones who need to use one of the global payment networks widely accepted on the Internet (promonently MasterCard and Visa) need to do so via third parties. Though some of these ‘cards’ are virtual, some are physical and can be used to withdraw funds at any of the Visa or MasterCard branded ATMs, worldwide. Read on…