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GTbank phases out Magnetic stripe cards... Introduces Naira MasterCard

07-27-2010 09:39 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Guaranty Trust Bank Cards

GTBank Naira Mastercard

GTBank Naira Mastercard

As part of efforts to continuously conform to the highest international standards and in keeping with its promise to continually offer customers security of transactions and accounts, Guaranty Trust Bank has phased out its Old Magnetic Stripe Debit and Credit cards for more secure and internationally accepted Chip & Pin alternatives. The cards to be affected under this scheme are the CashPlus Naira Debit cards and the Magnetic stripe Dollar denominated MasterCard Classic cards.

Speaking on this development, Ronke Kuye, General Manager and Head of Card Services at GTBank stressed the need for customers to collect the replacement cards at their branches saying that the cards not just offer enhanced security to the user but also, conveniently provide the user with greater flexibility in withdrawals and payments than the magnetic stripe cards. Customers were therefore urged to ensure that they collect their replacement cards by August 1, 2010 as the old cards would cease to work from that period

The ‘Naira MasterCard’ from GTBank made history upon its introduction as the first Naira denominated debit MasterCard card in the world. It can be used on all ATMs with the MasterCard sign and employs a dual Chip and Pin technology for the utmost protection and security of accounts and transactions. Meanwhile, all old magnetic stripe GTBank dollar denominated MasterCard cards will be disabled from the 1st of July 2009 and replacements issued to the customers at a fee. Customers should therefore request for ‘Chip and Pin’ MasterCard Dollar and Visa Card Dollar cards from the Bank.

Established in 1990, Guaranty Trust Bank grown consistently to become one Africa’s leading e-business and financial services providers with significant presence in all countries of Anglophone West Africa (Nigeria, Ghana, Gambia, Sierra Leone, Liberia) and the United Kingdom. The bank is soon set to expand its operations into Francophone West Africa

GTBank
Plot 1669, Oyin Jolayemi Street, Victoria Island, Lagos
+234 1 2714580
Femi Adeniran

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