O3 Capital Nigeria Ltd is a wholly Nigerian owned
financial service institution that offers various
consumer loans using the credit card as its
delivery channel. O3 Capital became the first
non-bank credit card issuer in Nigeria when they
recently introduced theirO3 Credit Cards into the
market. The credit cards work on the Interswitch
network which means they can be used on all
ATMs, POS and internet payment sites in Nigeria.
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The Card enterprise is driven by an ultramodern
Card Management System that is provided by a
leading Canadian software company Bevertec CST
and a Customer Relationship Management System
which is provided by Redmain, a UK based CRM
Solution provider,that provides a robust
experience for the cardholder while guaranteeing
transaction and data security.O3 Cards comply
with the international EMV standard with data
transmission done under an encrypted and
secure environment. Our entire operating
systems would run on certified platforms that are
PCI DSS certified in line with international
security standards issued by The PCI SSC
(Payment Card Industry Security Standards
Council).
The best marketing model that describes the
credit card market in Nigeria is the adoption
model. This is the model where the industry is
“virgin” (in its state of infancy) and there is a
need for the establishment of a credit card culture
and infrastructure. O3 Capital intends to drive the
evolution of this credit card culture in Nigeria
given that there are less than 100,000 existing
credit cards in a country that has a population of
160 million. We believe that the key to achieve
competitive advantage is through our product
differentiation strategy and product efficacy.
The mission of O3 Capital is to provide the
average Nigerian with access to funds to enable
them meet everyday consumption requirements.
With O3 cards, the average Nigerian will not be
“cash-strapped” but will have that additional
funding source to meet daily needs. With O3
cards, all the customer’s basic needs become
affordable.
Our objective correlates to that of the Central
Bank of Nigeria’s Financial System Strategy 2020,
which includes the Cashless Policy. Its objective
is to promote economic activity by utilising
innovative payment systems with ease of
accessibility to the general populace. Deployment
of credit cards should give the relevant boost to
the Nigerian economy by increasing the
purchasing power of the consumer by driving
activity in the economy across the board. O3
takes the CBN cashless policy to a whole new
level
The O3 selection process is extremely thorough
with a high level KYC scrutiny in line with our
philosophy of “ Right Customer Low Risk ”. The IT
infrastructure is integrated with the existing credit
bureaus which enables an automated credit
history review of each applicant. The card
management system has a predictable risk
management and anti-fraud solution. And as a
last resort, all the cards would be insured.
The O3 Card allows you to purchase all forms of
goods and services whenever and wherever you
want, without ready cash. The cards can be used
at restaurants, hotels, supermarkets. hospitals,
petrol stations, schools, airline counter or sites
etc.All purchases or withdrawals made during the
month (payment cycle) the cardholder is expected
to make only one payment which does not have
to be the whole amount. The cardholder can pay
only 10% of what is outstanding on the account
and roll the balance over till when is more
convenient.
There are 3 basic criteria to qualify for a card; be
above 21 years old, have a job and live in
Nigeria. O3 Cards have credit limits up to
N1,500,000 which are revolving credit lines that
are valid for 24 months.
O3 Cards also issue Business (Business Owners
and SMEs) and Corporate Cards.
The convenience O3 Cards offer starts from the
application process. You apply online from your
desk and the card and Pin would be delivered to
you at your desk
Visit www.o3cards.com
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