Visa card in Nigeria

Credit Card Nigeria

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Posted by on Friday May 9, 2014 at 16:44:58:

In Nigeria, one of the means if making card payments is powered by Visa - an internationally recognized card brand.

Visa cards are being issued by Nigerian banks nowadays in partnership with Visa international. Locally, Visa cards are used for ATM and POS transactions.

Features of a Visa card
A Visa card has a 16 digit card number which normally starts with a 4. It also has the name of the holder printed on it if it is personalized as well as a 3 digit CVV code at the back of the card.

Types of Visa cards available in Nigeria

1. Personalized: This is basically a Visa card that comes personalized for a particular person. It is normally branded with the name of the person and is only produced after the person has applied for it.

2. Non Personalized: This is basically a Visa card that has been produced and kept in order to be immediately issued on request to the applicant. It does not normally bear the name of the person to whom it is issued to.

3. Prepaid Visa cards: This is a Visa card that has funds already added to it irrespective of whether the holder is a bank customer or not. It is not linked to a normal bank account but funds are normally pre-loaded on it.

4. Visa Debit cards: Unlike prepaid Visa cards, Visa debit cards are not prepaid but they are cards that are linked to the person's bank account and funds are normally debited from the person's account as often as he makes payments with the card.

5. Visa Credit cards: This is basically a Visa card that is linked to a bank credit offered to the holder. It is not specifically linked to the person's bank's funds but linked to a loan which the bank provides to the person. Since they are like bank loans, they normally come with interest rates and repayment conditions attached to it. In Nigeria, Visa credit card holders can pay for stuff they need and avoid paying interest on it if they repay within 4 weeks or so. A Visa credit card is normally issued to a person who has a verifiable source of income like a good job. It is normally denominated in Naira.

6. Naira Visa cards: These are basically any Visa card that is denominated in the Naira currency.

7. Foreign currency Visa cards: This is a Visa card that is funded in foreign currency such as US dollars, British Pounds or Euro

8. Dual currency Visa card: This is a Visa card that is funded with both Naira and foreign currency(USD or GBP)

Billing Address:
The Billing address for Visa cards issued in Nigeria by the banks are normally the registered local address of the holder in Nigeria. The applicant would

Where a Nigerian issued Visa card can be used
1. Automatic Teller Machines(A.T.M.): It can be used for making withdrawals and payments at ATMs. It requires a 4 digit PIN which should be kept secret.

2. Point of Sale(P.O.S.) terminals: It is also accepted at POS machines operated by merchants like shopping malls and service providers. It normally requires the holder to enter a 4 digit PIN to approve transactions.

3. Internet: It is also accepted on the internet on both local and international websites. For use outside Nigeria, it may require further authorization from the issuing bank. For use on the internet, it may also require an activation which can be done by changing the I-PIN on an ATM.


Re: Visa card in Nigeria Reply by IKPANGI ESEIMOKUMO on Thursday February 2, 2017 at 16:33:2:

pls how can i get a business credit card in nigeria?

Re: Visa card in Nigeria Reply by Felix Okoli on Thursday February 2, 2017 at 16:33:2:

You can get one using a business current account you have opened with a bank. Just open a current account for your business and run it for about 6 months before applying for a credit card.

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