Following the release of their Panless Debit card, Eyowo, the leading online banking platform, has released a documentary to let Nigerians in on why and how this numberless MasterCard was made.
The Better Card is a step taken by Eyowo to help combat financial security problems and ensure that the financial futures of its customers are secure.
According to Devex, 34.87% of all fraud incidents in 2018 involved debit cards. This number has recently increased by 1.5%. Nigerians are at significant risk of direct debit fraud, which has a negative impact on economic development and inclusion to vital services while undoing recent advances in bringing excluded individuals into the digital economy.
The Better Card is a sleek Mastercard that has the primary account number, expiry date, CVV, and any other vital card information that can be read and used by any random person deliberately removed from the card, leaving only the card owner’s name. This protects the owner from fraud—contrary to traditional debit cards.
Its release was first announced at the Better Card launch event at the Eyowo headquarters, where the card was unveiled. Omoseindemi Olobayo, the CEO of Eyowo; Kari Tukur, Vice President & Head Customer Solutions, East & West Africa for MasterCard; and media personalities, as well as other guests from Eyowo, MasterCard, and Sterling Bank, were in attendance.
Kari Tukur, Vice President of SSA at Mastercard, provided details about the collaboration, stating that MasterCard believes in enabling end-to-end digital access from the point of onboarding a new customer to the point of transaction. It was simple to collaborate on The Better Card project with Eyowo, according to her, because it’s one of the tenets upon which the MasterCard Digital First program is based.
The Eyowo team has been working on this project for three years while continuously pursuing and prioritizing improved user security. To help their users understand how and why the sleekest, safest, and most inclusive MasterCard card was developed, Eyowo documented the creation process of #TheBetterCard.
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How To Get The Better Card
1. Download the EyowoX app; available for download on the Google Playstore and Apple App Store.
2. Launch EyowoX.
3. Tap GO.
4. Scroll down and tap “physical cards.”
5. Watch out for the BWM Score and check eligibility for #TheBetterCard.
To check how to qualify for #TheBetterCard, click here.
6. Fill in the required information.
7. Tap Continue and request will be submitted successfully.
When approved, the numberless card is free of charge and delivered within 5-7 working days to the customers’ chosen locations.
