The United Bank for Africa has blocked the credit and debit cards payments to gaming services.
Nigeria.- Betting services in Nigeria would be limited by bank’s resolution on credit and debit cards payments. The United Bank for Africa has announced customers that they will not be able to pay for betting services with their cards, as published by local newspaper Punch. The measure was allegedly set in order to prevent possible frauds.
“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),” revealed the statement.
“This has become necessary with the increased need to protect our customers and the institution from fraud, litigation and reputational damages.”
Customers of the Nigerian bank would be unable to use their credit and debit cards to participate in land-based and online gaming services. According to bank’s representatives, the decision would allow customers to operate in a safer market. “We want you to transact safely,” concluded the statement.