Nowadays, Nigerians are used to making online purchases with their ATM cards because of how simple and convenient it is. There are various ATM cards in Nigeria but the major ones used by people are the MasterCard and Visa Card. With these cards, Nigerians purchase items from online stores, book flights, pay for online services and lots more and they are also accepted by international payment gateways.
In this article, we will be looking at how one can use these ATM cards (MasterCard and VISA) to make a Naira payment. First of all, let’s look at the properties of these cards.
Properties of a MasterCard/Visa Card
If you have any of these cards, you would notice a lot of features on them. The front of the cards usually carries the card logo, card number, card expiry date, holders name, and the chip.
MasterCard and Visa always have a 16-digit card number and each card has its unique one; you cannot see two cards with the same card number. The card expiry date differs and it depends on when the card was issued by your bank but they last between 3 to 5 years. If you are the owner of the card, your name will be printed in front of the holder’s name.
On the back of your card, you would find a seal and your card CVV number. The seal verifies the authenticity of your card while the CVV – Card Verification Value – serves as a security code.
How to make a Naira Payment with your ATM Card
If you want to know how you can make a Naira Payment with your MasterCard or VisaCard, you should follow the below steps when on the payment page;
Choose your ATM card from the displayed card types (Should be a MasterCard or Visa Card)
Enter your card number
Enter the card holder’s name
Enter the card CVV number
Enter the card PIN (not all payment gateways request for this)
Click on proceed
An OTP – one-time password – will be sent to the phone number registered with your ATM card
Enter the OTP in the provided field and submit
Your payment will be processed and if every detail is entered correctly and you have up to the amount you are paying for in your bank account, the payment will be successful. That is how easy it is to make a Naira payment with your MasterCard or VISA card.
One thing you should do is to ensure that you are entering your card details on a legit website. If you enter your card details on a scam payment page, you are at risk of losing money as the details can be used to transfer funds out of your account.
Making payment with your ATM card saves you the stress of having to carry funds all around. You can easily stay where you are and pay for goods and services, it is more convenient. Also, you are at low risk of losing money as your bank secures your bank account with an OTP.