Modupe Gbadeyanka
By Modupe Gbadeyanka
The United Bank for Africa (UBA) Plc has announced restricting customers from using its debit and prepaid cards on some services.
In a notice sent to its customers on Thursday and sighted by Business Post, the lender disclosed that it would no longer its customers to use UBA cards on transactions involving jewellery, pōrnography, dating and escort services, and betting (including lottery tickets, casino gaming chips, off-track betting and wagers).
Explaining the rationale behind this development, UBA said it was to “protect our customers and the institution from fraud, litigation and reputational damages.”
“We wish to inform all cardholders that we have placed restrictions on the bank’s debit and prepaid cards from carrying out transactions with merchants that are transacting on the following business categories; Jewellry, Pōrnography, Dating and Escort Services, Betting (including lottery tickets, casino gaming chips, off-track betting and wagers).
“This has become necessary with the increased need to protect our customers and the institution from fraud, litigation and reputational damages,” the notice read.
