Mr. Alex Nwuba, Managing Director of SmartPay in a swift reaction to the claims during an informal media lunch date held recently in Lagos, described the claims as "lacking in authenticity".
said, is because the MasterCard scheme, being first a reputable payment company, has no room for a third-party involvement in electronic transactions." If MasterCard wants to come to Nigeria, they will come here as MasterCard International, without a front other than the affiliation they will have with the payment companies (in this case, the banks) that will be participating in the scheme".
This statement, which is actually the standard policy of all top global e-payment (or Card based payment) solution providers like Visa, American Express
, ETN etc, is the direct opposite of the claims to franchise acquisition as alleged by Card Technologies.
Reacting also to the said report's allegation that SmartPAY
is approaching ValuCard (another player in the card based payment solution in the local market) to guarantee the former's survival in the impending "competition", Mr. Nwuba
described that as the figment of the author's imagination.His
has always been a fair player in the market despite our superiority in technology and strategy, and we have also tried to encourage cooperation in order to grow the market.
The only opening left for MasterCard, as stated by Mr. Nwuba
, is the international or foreign travellers market.Even at that, he
emphasized that in all other countries where MasterCard is accepted like USA, UK and Europe, some local players are still thriving.