Abuja - The United Bank for Africa (UBA) has introduced a new Personal Identification Number (PIN) system the financial institution believes would make debit card transactions safer and more efficient.
The new UBA Instant PIN initiative allows customers of the bank to select a PIN of their choice using a specialised Point of Sale (POS) at any UBA Business Office or UBA automated teller machines.
Specifically, all eligible Debit Cards such as the MasterCard, MasterCard Verve and Verve Debit Card will no longer have the physical PIN mailers printed anymore.
The platform will also be used for all walk-in Customers who have forgotten their PIN and require a PIN re-issue.
Explaining the benefits of the new PIN selection process, UBA’s Divisional Head, e-Banking, Dr Yinka Adedeji, said it was secure and more efficient.
“As long as the customer has a UBA Debit Card, PIN change can be done at anytime. Also, the process is safer because the customer is physically present and the code is sent via SMS to the registered mobile phone number,” he said.
Adedeji said the bank was already in the process of implementing the instant PIN solution across all nineteen African countries where UBA was present.
The new system is poised to shield clients from credit card fraud, which is fraudulent in Nigeria.
- CAJ News