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Home Business StartUPs

Fintech Startup, Eyowo Launches Mastercard Debit Card for Seamless Payments

by Justice Godfrey Okamgba
August 31, 2022
in StartUPs
4
UBA
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Nigerian payment solution provider, Eyowo, has unveiled its digital-first payment offering, the Better Card, certified by Mastercard.

The Better Card has been delivered to 500 users in the first phase of the release and is now open to the public via the Eyowo X mobile app, available for download from the Apple iOS App Store and the Google Play Store.

As one of the pioneer partners in Nigeria to join Mastercard’s Digital First Card Program, Eyowo brings a best-in-class digital banking experience to its customers.

This includes digital access to card information, unsurpassed payment security, and access to a host of payment options (e-commerce, contactless, and QR) from any digital device of their choice.

Powered by Providus Bank, the Better Card offers customers a seamless payment experience that eliminates the risk of card fraud by safely storing their payment credentials in the Eyowo X mobile app.

Eyowo customers can easily apply online and receive their Better Card – including the 16-digit card number and expiration date – digitally. Once activated, the digital cards can be used to make purchases online, in-app, and at the point of sale through digital wallet offerings.

Customers will also receive an innovative physical card that doesn’t contain sensitive information such as the card number and expiration date, providing ultimate protection from the theft of personal and financial information.

“We want to give our customers the freedom to spend without worrying about losing their hard-earned money by providing a card that keeps their money safe,” said the VP of Products for Eyowo, Ope Adeyemi.

“To achieve this, we simply removed the card number and the expiry date on the physical card and made it accessible only via Eyowo X.

We thought that this was the single most important improvement that had to be made to the debit card, which is widely known as a predominant channel for account-takeover fraud.”

Integrated into the Mastercard Digital First Program, the cards are part of Mastercard’s efforts to enhance the safety and security of online banking and contactless transactions by providing expert guidance to fintech and issuing banks to create end-to-end digital payment options at scale.

“Mastercard is committed to bringing 1 billion people into the digital economy by 2025 and ensuring safe and secure digital payments play a big role in that.”

In a boundless digital environment, Mastercard has long understood that it is not enough to secure the payment transaction alone but that the safety net must widen to encompass every touch point along the journey.

We weave that expertise into our Digital First program, ensuring the highest standards of innovation, quality, security, and privacy,” said Kari Tukur, Vice President, Product Management, Mastercard.

Eyowo seeks to help people build an improved relationship with money by redefining each user’s knowledge of saving, spending, and investing.

Eyowo X mobile app empowers users with a curated knowledge of their card transactions by providing a daily summary that helps them to keep track of their spending and subsequently cultivate better financial habits.

This is in addition to other in-app features that allow users to manage multiple bank accounts, track and control spending, and grow their money.

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  • Justice Godfrey Okamgba
    Justice Godfrey Okamgba

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Justice Godfrey Okamgba

Justice Godfrey Okamgba

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Comments 4

  1. Pingback: Fintech Startup, Eyowo Launches Mastercard Debit Card for Seamless Payments – TechEconomy.ng - TechEconomy.ng - GraphicUV
  2. Pingback: Fintech Startup, Eyowo Launches Mastercard Debit Card for Seamless Payments – TechEconomy.ng - TechEconomy.ng
  3. Pingback: Fintech Startup, Eyowo Launches Mastercard Debit Card for Seamless Payments – TechEconomy.ng - TechEconomy.ng - Basket Bowler
  4. Pingback: Fintech Startup, Eyowo Launches Mastercard Debit Card for Seamless Payments – TechEconomy.ng - TechEconomy.ng - news mania

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