CardBASE Customer Case Study

ValuCard Nigeria plc

ValuCard Nigeria is one of the most important customers for CardBASE given the number of years both companies have been working together with deployed solutions in the field of electronic purse and purse card scheme management.

After much consolidation, nearly all of the leading Nigerian banks participate in the ValuCard branded smart card scheme which has in previous years processed in excess of 1 Billion Nigerian Naira (€385m) worth of transactions annually.

CardBASE developed this proprietary purse solution for ValuCard enabling cardholders to pre-load money at specified merchant locations on to the card and to pay for goods and services in a secure fashion. Cards can be used to make payments at point of sale terminals throughout Nigeria that carry the ValuCard symbol.

The ValuCard ePurse solution from CardBASE delivers convenience and security, ensuring all transactions are secure, traceable and fully auditable with proof of purchase receipts printed at the point of purchase.

Features of the Solution

High value
- Value loads up to 16,777,215 Naira (equivalent to €100,000)
- Limits are variable by Bank card issuer & cards individually

PIN protected
- A PIN is only required when spend exceeds free debit limit
- While PIN on value load is optional based on certain criteria

Multi-issuer / multi-acquirer
- Transactions can be acquired for cards from any issuer in the scheme

Off-line purchase transactions
- All purchase transactions are performed off-line
- Merchants do not require on-line communications for purchase transactions

All loads authorised on-line
- Issuer is responsible for validating funds for loading
- ValuCard Nigeria Plc validates load amount against issuer liability

Secure clearing & settlement
- ValuCard operates the clearing, settlement and administration function
- All transactions (load & purchase) must pass through ValuCard Nigeria
- Transaction batches secured against changes
- ValuCard Nigeria manages issuer liabilities
- ValuCard Nigeria notifies Nigerian Inter-bank Settlement System of settlement amounts
- ValuCard Nigeria is central authority for all security

Issued cards linked to cardholder accounts
- No anonymous cards in the scheme as cards are linked to accounts

Loaded value backed by t-bills
- Issuer load limit defined as percentage of value of T-Bills deposited, by issuer, with ValuCard Nigeria
- Liability increased for every load
- Liability reduced on settlement from issuer to acquirer

About ValuCard Nigeria - www.valucardnigeria.com
ValuCard Nigeria Plc is a Public Limited Liability Company (Plc), owned by a consortium of leading Nigerian Banks and Visa International Services Association (VISA). Though a Public Company, it is not quoted on the Stock Exchange and its shares are not open to the public. Apart from the shareholder banks, other banks subscribe to the ValuCard franchise for the issuance of the ValuCard e-purse card.
In addition to the “ValuCard” e-purse card, ValuCard is a Principal Member and the Joint Acquirer for all Visa card transactions in Nigeria. By our membership and partnership status with Visa, ValuCard is directly responsible for deploying Point of Sale terminals to merchant outlets where Visa cards are accepted for payment, acquiring transactions and settling with merchant payments.

About CardBASE Technologies - www.CardBASE.com
CardBASE Technologies is the leading developer of smart card management systems for the Government, Healthcare and Corporate ID markets.
CardBASE has been at the forefront of developing and delivering innovative integrated smart card solutions in the security and payments arena and has established an enviable reputation for quality, security and innovation.

CardBASE is part of the ID Data plc group of companies. www.IDData.com