EmbassyCard, a fintech startup, has enticed mobile money providers and point-of-sale representatives with its prepaid digital card, which eliminates charge-back fraud and allows payments without the need for network connectivity.
During a recent product launch in Lagos, Sunny Ojuroye, CEO of EmbassyCard, gave PoS agents assurances about affordability, easy transactions, and commission-based rewards by registering to become EmbassyCard Merchants.
He had this to say: “You can use your phone instead of bulky and expensive POS machines. We want all our merchants to become personal cash machines for our EmbassyCard customers so they don’t have to queue at the banks to get cash.”
The company, which has been in partnership with Providus Bank since 2019, as seen in BrandSpur banking and finance news, claims that the contactless functionality of the EmbassyCard with NFC-enabled devices, together with a mobile app for non-NFC-enabled devices, is its unique selling proposition.
Ojuroye stated that the digital card is available in Lite, Green, and Gold categories and features the photo IDs of the users. It also offers referral prizes to users and improves the security of user cash.
According to him, the company’s product was created to address issues with digital banking that currently exist, such as sluggish internet networks and delayed transactions.
Speaking further, he revealed: “We have observed charge-back fraud, long queues (at the bank) when payment doesn’t go through or a customer’s alert fails to arrive; the issue of no network with the use of POS machines and long-distance travel to lodge complaints at banks.”
Leye Popoola, a Director of EmbassyCard, said the company’s goal is to serve as a financial resource from Nigeria for Nigerians.
He gave PoS agents confidence in the company’s expansion by saying: “We have seen the future in the present. We are confident that within a short while from now, we will capture the whole country.”
Oluwagunwa Ibirogba, the Chairman of the Association of Mobile Money and Bank Agents in Nigeria, applauded the launch of EmbassyCard and urged association members to join and become merchants to boost their revenue without the need for PoS equipment.
However, EmbassyCard now maintains an office in Ikoyi, Lagos, and operates in 15 states.
