UBA restricts customers on Bank’s debit, prepaid cards usage for dating, betting, jewellery sites

Nigeria’s United Bank for Africa (UBA), Thursday, says it has restricted its customers from using its debit and prepaid cards for transactions with online jewellery merchants, gambling or access any pornography sites.

In a newsletter to customers titled “we want you to transact safely,” the bank, which is one of the biggest in the country, said its debit and prepaid cards are now restricted from carrying out such transactions.

“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; Jewellery, pornography, 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 bank said.

The pan-African financial institution, in a statement Thursday, grew its gross earnings for the period by 34.5 per cent to N222.7bn, as against N165.6bn reported in June 2016.