The face of card business received another boost recently, as First City Monument Bank Plc (FCMB) introduces a highly innovative MasterCard Prefunded Picture Card into the Nigerian financial market which is designed to enable customers participate in global e commerce.
The new FCMB MasterCard Prefunded Picture Card with enhanced security features like chip and PIN, passport photograph and global transaction alert service comes in two variants of Classic and Gold card categories. It is globally accepted by over one-million Automated Teller Machines (ATMs), six-million Point of Sales (POS) terminals and 24million internet sites for online purchases in over 210 countries.
According to FCMB’s Executive Director, Retail Banking Division, Nabeel Malik “Choosing the FCMB MasterCard Prefunded Picture card gives customers the power to control their card spends while carrying their fondest moments (which comes in the form of pictures on the card) with them wherever they go.”
He explained that the combination of a chip, passport photograph and global transaction alert service offer the highest level of security in card transactions by EMV standard. The card also serves as a means of identification with the passport photograph.
Speaking at the media presentation of the card yesterday in Lagos, FCMB’s Head of Card Business, Richard Esin listed the benefits of the Picture Card to customers to include ability to fund the card account with US dollars from customer’s Naira account at prevailing official exchange rate, the convenience of carrying card instead of cash when traveling abroad and access to customer’s funds 24/7 basis. It also provides greater control over card spends and; global acceptance of card in over 210 countries on ATMs, POS, the internet, mail order and telephone order; free online card statements from anywhere and at anytime, global SMS alert service for all transactions done with the card, and monthly analysis of card spend on the statement.
“The new FCMB MasterCard Prefunded Picture Card is also very convenient for parents who make periodic transfers for the maintenance of their children studying abroad; for vacationers; traders and importers; on-line shoppers; pilgrims and; for PTA and BTA”, Esin noted.
The card account attracts no monthly charges but earns 2% per annum on customer’s average monthly balances.
Other unique features of the card for businesses include ready access to funds and ability to make purchases wherever a company does business, enhanced ability to track and analyze expenditures on a global basis, greater control over employee spending, savings and rewards programs and, increasing ability to link with buyers, suppliers and financial institutions to streamline procurement and other business expenditures.