VISA Urges Bank Users and Other Stakeholders to Support Cash-less Policy
VISA Incorporated Country Manager, West Africa, Mr Ade Ashaye has urged bank users and stakeholders to support the new cash policy of the Central Bank of Nigeria (CBN) in order to stimulate growth in the economy.
Mr Ashaye disclosed this during a meeting with journalists at the weekend in Lagos. He maintained that the new cash policy, whose pilot phase commenced in Lagos last month, would positively stimulate growth in the system.
He added: “There is a lot happening globally around the electronic cash system and Nigeria will benefit immensely from that. Some of the benefits he mentioned are so much that, if you have a card to make payment, it means that your money is in the bank and if your money is in the bank, it means that the bank will be able to help drive growth in the system by lending the money out”
The real benefit according to him is that people will not have to keep money under the mattress or in the drawer any longer.
VISA had been providing technical support and advice to the CBN on how to ensure that the policy and card payment system succeeds in Nigeria.
VISA sits at the intersection of 15,300 financial institutions, 1.0 billion Visa Cards and tens of millions of merchants bringing digital currency to consumers, business, banks and governments.
Mr Ashaye disclosed this during a meeting with journalists at the weekend in Lagos. He maintained that the new cash policy, whose pilot phase commenced in Lagos last month, would positively stimulate growth in the system.
He added: “There is a lot happening globally around the electronic cash system and Nigeria will benefit immensely from that. Some of the benefits he mentioned are so much that, if you have a card to make payment, it means that your money is in the bank and if your money is in the bank, it means that the bank will be able to help drive growth in the system by lending the money out”
VISA had been providing technical support and advice to the CBN on how to ensure that the policy and card payment system succeeds in Nigeria.
VISA sits at the intersection of 15,300 financial institutions, 1.0 billion Visa Cards and tens of millions of merchants bringing digital currency to consumers, business, banks and governments.
