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Posted By Udokabestluv On January 25th, 2023

MYTH: ATMs, Cards will no longer be in use as CBN, NIBSS move to unify Payment through the National Domestic Card Scheme.

FACT: THIS IS FALSE. EXISTING ATMS, CARDS AND POS WILL STILL FUNCTION WITHOUT INTERRUPTION.

MYTH: The establishment of National Domestic Card Scheme will affect the usage of other card schemes cards such as Mastercard, visa and Verve in Nigeria.

FACT: ALL OTHER CARD SCHEMES WILL GO ON WITHOUT DISRUPTION. ALL THE SCHEMES WILL CO-EXIST.

MYTH: There is no benefit to having a National Card Scheme.

FACT: THERE ARE NUMEROUS GOVERNMENT SOCIAL PROGRAMS THAT DSCC CARDHOLDERS WILL ENJOY. THERE WILL ALSO BE OPPORTUNITIES FOR THE GROWTH OF FINANCIAL INCLUSION, COLLABORATION AND EMPLOYMENT OPPORTUNITIES.

MYTH: There are no direct benefits from using this card.

FACT: ROBUST REWARD SYSTEM, EASE OF TRANSACTION PROCESSING AND IMPROVED AFFORDABILITY.

MYTH: There is no difference between the National Domestic Card Scheme card and other card schemes.

FACT: THIS IS A NATIONAL DOMESTIC CARD SCHEME, FULLY HOME GROWN, OWNED BY GOVERNMENT AND CONTROLLED BY THE BANKING INDUSTRY FOCUSED ON THE NIGERIAN BANKING END USERS.

MYTH: There are no added security features on National Domestic Card Scheme.

FACT: THE SCHEME IS DRIVEN BY BEST LOCAL AND GLOBAL SECURITY STANDARDS (COMPLIANT WITH EMVCO AND OTHER GLOBAL CARD SECURITY STANDARDS)

Source: https://www.thecable.ng/7-facts-about-the-national-domestic-card-scheme-system/amp