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Skye Bank, others launch multi-purpose card

By Businessnews Staff on August 23, 2014

Skye Bank Plc has introduced a Security Verified Identity Card (S-Vid) for members of the National Union of Road Transport Workers (NURTW) as part of measures to build a reliable data base for the NURTW and integrating its members into the financial system.

The card which was launched in Abuja yesterday by the Secretary to the Government of the Federation, Chief Anyim Pius Anyim, is a multi-functional card which includes features like insurance purse, mobile wallet and an identity card.

Skye Bank which is the lead bank on the project is working in partnership with other organisations like Globacom, G 3 Limited. A few other banks are also working on the project.
While speaking at the launch of the card, a statement quoted the Group Managing Director/Chief Executive Officer of Skye Bank Plc, Mr. Timothy Oguntayo to have said the card is aimed at reducing financial crimes and identity theft, describing it as not just a card but ‘it’s your identity, it’s your security, and it’s your gift to posterity’

According to him, the card will bear the holder’s photo, the logo of the holder’s organization, the s-vid logo and the bank’s logo.
Oguntayo who said the card would boost the cashless initiative of the Central Bank of Nigeria (CBN) also noted that it would serve as a useful tool of financial inclusion.

The Skye Bank boss said the card would serve as a corporate identity card, mobile wallet and insurance purse. He listed the features of the card as personal accident insurance cover to card holder of N 1 million against accidental death and N850,000 against permanent disability.

[This Day]

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