InterSwitch presents First Bank with Milestone Achievement Award

Channels Television  
Updated November 14, 2012

Nigeria’s leading electronic transaction company, InterSwitch Limited, has presented First Bank PLC, with a Milestone Achievement Award for being the first bank to cross the over 5million verve card user landmark.

The award according to InterSwitch is for “significant feats in card issuance and transactional activity” by the bank.

According to the Group Managing Director of InterSwitch; Mr Mitchell Elegbe, “First Bank is deserving of this plaque as it again distinguishes itself from the pack.”
The award also recognizes key areas in electronic transaction switching and payment process which includes the following;
  • FirstBank is the first bank to hit the 90% card activity rate across the switch since the issuance of the Verve Chip & PIN card
  • FirstBank is the fastest issuer of Verve Debit cards across the InterSwitch network in the last 12 months
  • FirstBank is the first bank to hit the 5million card issuance mark on the InterSwitch network
  • FirstBank is the first bank with card activity growth rate from 56% to 91% in the last 12months
  • FirstBank is the pioneer bank to start the Customer Selectable PIN process i.e. customers are able to choose a PIN of choice instantly upon issuance of cards
  • FirstBank is the pioneer bank to begin instant issuance of cards upon request.

InterSwitch Limited is an independent company focused on facilitating the exchange of value between service providers (financial, telecommunications and utilities), merchants, their customers, and other stakeholders on a timely and continuous basis nationwide.