Basic Features of Nigeria Debit Cards - Verve, MasterCard & Visa Debit Card

According to brands, there are currently three types of ATM debit cards for bank accounts in various banks. They are:

1. Verve Card
2. MasterCard
3. Visa Card.

These cards have their various features that makes them unique in their own ways. We'll look at these features briefly.

Verve Card

1. It is Flexible, can be used across multiple channels such as ATMs, Web and POS terminals. However it can only be used on "domestic" websites, (i.e. Nigerian sites) bearing the Interswitch or Verve acceptance mark, e.g. Quickteller. This means it can't be used for international payments.
2. It can be used for multiple Value-Added Services such as Airtime recharge, Bills payments, funds transfer using Quickteller, shopping, e.t.c.
3. Users get to enjoy discounts targeted at Verve cardholders. Visit their website 'Ververewards.com' to take a 'look and keep tips" of the exclusive collection of discounts for Verve cardholders and take advantage of the program’s benefits wherever you go.
4. Also, some banks may have some special offers and discounts for their customers having the verve card.
5. Your funds are protected from making foreign payments.
6. Probably cheaper to get. Some banks charge N700 for issuing Verve cards.

MasterCard

1. Some spending limits are applied which can save you from total funds drainage should your card get to the wrong hands. The limits can be lifted on request by the cardholder.
2. It is Accepted internationally, wherever the MasterCard logo is displayed. Meaning it can be used when traveling out of the country and on millions of websites , both domestic and foreign, with Mastercard support.
3. It is an EMV card with enhanced security that ensures safety of your funds and transactions, and In some cases, it provides extra protection for Web based transactions with “SecureCode” for International web transactions and Safetoken for local web transactions also.
4. It enables you to spend in Naira wherever you go in the world as any transactions you carryout are debited directly to your Naira account. Meaning no need to source for foreign exchange.The disadvantage of this is that as 'dollar($)' rises, you get debited high as for the present exchange rate
5. It is Accepted across multiple channels such as ATM, POS, Web, e.t.c.
6. Card validity period of 3 years from the date of issuance.
7. As a users you can enjoys discounts and special offers targeted at MasterCard cardholders by the company and also the bank you banking with. Please kindly visit the site here to download the Priceless Africa Mobile App to gain access to an exclusive collection of discounts specially packed for MasterCard cardholders to live a unique moment in their favorite cities and places, and also to carry the benefits the program as in stock wherever the client go.

Visa Card

1. It also has a spending limit which can be lifted by the cardholder on request to the bank.
2. It is an EMV (Chip & PIN) card with advanced security that guarantee safety of your funds and transactions. Some banks Visa Debit card is a dual currency card that allows you spend Naira during domestic transactions from your Naira account and Dollars during intentional transactions from your domiciliary account.
3. It's a globally acceptability for ATM withdrawals, payment at POS terminals, as well as via internet to pay for goods and services by millions of websites that accept Visa cards for payments either for domestic or international level.
4. Card validity period of 3 years from the date of issuance.

As far as most consumers are concerned, there is no real difference between the Mastercard and Visa card. They are both widely accepted in over more than two (2) hundred countries  on the ATM that has the Card Logo on them.


So you should go for a Card that best meets your requirements, so you don't get frustrated by any limitation which may probe you to waste resources by having multiple cards for just one bank account.