MasterCard has signed an agreement with Zenith Bank to issue a suite of digital payment solutions in Ghana.
The digital payment solutions include prepaid, debit and credit cards, which will be made available from 14 December 2016.
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The agreement is in line with Ghana’s Vision 2020 goals that plan to expedite the migration to this global standard. It will further boost MasterCard and Zenith Bank’s partnership in West Africa.
MasterCard said that the launch of the suite of solutions will enable all citizens have access to safer ways to pay for goods and services as the payment cards are EMV Chip and PIN enabled.
Featuring an embedded microchip to encrypt information, the EMV-enabled cards are more difficult for unauthorised users to copy or access data on the card.
MasterCard area business head for West Africa Omokehinde Adebanjo said: “EMV technology protects in-store payments from card fraud. A small chip built into the payment card generates a one-time PIN for every transaction, making it virtually impossible to create counterfeit cards.
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By GlobalData“As this shift gains momentum around the world, a global chip infrastructure is taking shape to counter the threat of fraudulent transactions. We look forward to working with Zenith Bank in Ghana to bring safer payment technologies to the market.”
