Eyowo offers its customers a world-class digital banking experience as one of the original partners in Nigeria to join Mastercard’s Digital First Card Program. This includes digital access to card data, unmatched payment security, and availability of a variety of payment choices (e-commerce, contactless, and QR) from any digital device of their choice.
By securely storing users’ payment information in the Eyowo X mobile app, the Better Card, which is powered by Providus Bank, provides customers with a seamless payment experience and eliminates the possibility of card fraud.
Customers of Eyowo can quickly apply online and obtain their Better Card digitally, complete with the 16-digit card number and expiration date. Once enabled, the digital cards can be used with digital wallet services to make purchases online, in apps, and in-person.
Customers will also receive a cutting-edge physical card that offers the highest level of protection against identity and financial information theft because it does not include sensitive data like the card number and expiration date.
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.
The cards are a component of Mastercard’s Mastercard Digital First Program, which helps fintech companies and issuing banks build end-to-end digital payment solutions at scale while also enhancing the safety and security of online banking and contactless transactions.
According to Kari Takur, the Vice President, Product Management, Mastercard “Mastercard is committed to bringing 1 billion people into the digital economy by 2025 and ensuring safe and secure digital payments plays 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,”
By rethinking each user’s understanding of spending, saving, and investing, Eyowo aims to aid people in developing a better relationship with money.
By offering a daily summary that enables users to keep track of their spending and subsequently develop better financial habits, the Eyowo X mobile app equips users with curated knowledge of their card transactions. The user may manage several bank accounts, monitor and manage their spending, and grow their money with this in addition to other in-app capabilities. The Eyowo X mobile app, which can be downloaded from the Apple iOS App Store and the Google Play Store, now allows users to access The Better Card, which was first made available to 500 users in the first part of the release.