Card frauds take plunge with Interswitch’s Card Control

Interswitch’s aim at providing a lasting solution to the high rate of financial fraud in Nigeria by launching an effective Card Control in December 2015 has started yielding positive results.

Card fraud has been a thing of serious concern for most card users in the country, with many already falling victims to scams.

In a bid to mitigate the menace, Interswitch partnered with Tranwall, an international leader in transaction security and control with a highly-skilled development team, in creating safety measures that will empower customers with the ability to secure their cards.

The measure, according to new reports, has succeeded in checkmating the menace, with a commendable reduction in card scams.

Speaking on the effectiveness of Card Control, Dele Adeyinka, Head-E-business at Wema Bank said that “since the implementation, we’ve seen a reduction of over 70% in card fraud.”

The partnership is aimed at fostering a good relationship between the customers and the bank by giving zero room for fraudulent activities, thereby stimulating growth and stability within the banking industry.