Temitope
Temitope Akinola
Automated Teller Machine (ATM) users can now be rest assured of quickly getting their refunds for system errors encountered in the process of making cash withdawal at the ATM.
This is coming as the Central Bank of Nigeria (CBN) has directed the banks to set up systems that will enable the automatic refund of money to customers who encounters ATM dispense error on their transactions.
CBN has also issued guidelines for card issuance and usage in order to provide minimum standards and requirements for the issuance and usage of payment cardsin the country.
This was disclosed to newsmen by the Apex Bank's Director, Banking and Payments System Department, Dipo Fatokun. He said, “The implementation of the guidelines will enable issuing banks, other financial institution, processors and cards schemes upgrade and maintain their card operations to ensure optimum security, efficiency, cost effectiveness and customer friendliness.”
He added that the platform also serve as a tool for banks and other financial institutions to assess their card issuance portfolio and ensure that consumers that carry Nigerian-issued cards operate within acceptable standards.
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Vanguard
This is coming as the Central Bank of Nigeria (CBN) has directed the banks to set up systems that will enable the automatic refund of money to customers who encounters ATM dispense error on their transactions.
CBN has also issued guidelines for card issuance and usage in order to provide minimum standards and requirements for the issuance and usage of payment cardsin the country.
This was disclosed to newsmen by the Apex Bank's Director, Banking and Payments System Department, Dipo Fatokun. He said, “The implementation of the guidelines will enable issuing banks, other financial institution, processors and cards schemes upgrade and maintain their card operations to ensure optimum security, efficiency, cost effectiveness and customer friendliness.”
He added that the platform also serve as a tool for banks and other financial institutions to assess their card issuance portfolio and ensure that consumers that carry Nigerian-issued cards operate within acceptable standards.
Read more
Vanguard
