Fidelity Bank Plc has announced the acceptance of its payment cards on the PayPal platform.
A statement by the bank said, “Fidelity Bank’s cardholders can now shop from the world’s major international retailers with more flexibility and convenience. Coming on the heels of the nationwide adoption of the CBN’s cash-less initiative on July 1, this move is seen as part of the bank’s efforts at boosting electronic payments and fostering ease of transactions.”
PayPal, a global player in the e-commerce industry, offers a means of conducting transactions over the Internet and is being used by millions of customers across the world.
The statement quoted the Divisional Head, Electronic Banking, Fidelity Bank, Mr. Adédèjì Olówè, as saying that the introduction of PayPal was a deliberate attempt to make financial services easy and accessible to its customers.
Olowe said that the development was in line with the bank’s commitment to make business transactions easier for its customers.
“We believe that our customers will benefit immensely from this innovation, and the registration process is straightforward.”
He, however, explained that the bank would adopt a phased approach to the deployment.
“Only shopping on international websites is available at this time; other services will be introduced in the coming months.”
While the surge in e-commerce has given rise to concerns about online security, the bank has allayed the fears of its customers by confirming that its cards are protected with security tools.
“In addition to the in-built security mechanism, Fidelity Bank’s MasterCard and VISA cards are protected with the MasterCard SecureCode and verified by VISA features respectively,” it added.
