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GTBank, MasterCard introduce prepaid card


Guaranty Trust Bank Plc has collaborated with the United States-based MasterCard Incorporated to introduce virtual prepaid cards to its customers.

According to a statement by the GTB on Tuesday, the card is issued instantly via Internet banking and it enables security- conscious customers not to use their regular debit/credit cards when making online payments.

“The GTBank virtual card has all the security features of a physical card and can be used to make both international and local online payments,” it added.

The lender said the introduction of the virtual card had bridged the gap between traditional e-wallets and bank accounts by providing a low-cost alternative to physical debit cards.

Customers also have the option of converting the virtual card to a physical card.

The GTBank Managing Director /Chief Executive Officer, Mr. Segun Agbaje, was quoted to have said, “This marks another milestone in our quest to make banking more seamless for our customers.

“As a bank, we remain firm on our objective to deliver value-adding services that are tailored to meet the diverse needs of our ever-growing customer base by leveraging technology to make banking more convenient for all our customers.”

He further stated that “the launch of this product attests to our commitment towards encouraging a cashless culture in our country by promoting the use of alternative payment channels for transacting both locally and internationally.

“Our desire to be at the frontier of banking excellence enables us to pioneer innovative products aimed at making banking more simple and attractive to the unbanked and underserved.”

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