Ecobank Announces Plans to Phase Out Naira Denominated MasterCard

Ecobank Nigeria has announced plans to phase out its Naira-denominated Mastercard debit cards, with a transition period scheduled to run from July 29 to September 29, 2025.

The bank disclosed the development in a message sent to customers on Wednesday, urging account holders to switch to a Verve debit card available free of charge.

According to the notice, the bank’s decision is part of a broader effort to enhance security and ensure smoother digital transactions for customers.

“As part of our ongoing commitment to delivering secure and efficient banking services, we will be phasing out the Ecobank Naira Mastercard,” the statement read.

“In its place, we are pleased to offer you a free Verve debit card to ensure a seamless transition.”

The bank said the Mastercard deactivation would take full effect from September 30, 2025, saying that customers are therefore advised to collect their Verve cards before the deadline to avoid service disruption.

Ecobank also assured customers that the new Verve card would support payments across several digital platforms, including Google Play, YouTube, TikTok, Spotify, Netflix, Prime Video, AliExpress, Zoom, Microsoft, LinkedIn, Starlink, Audiomack, and Uber.

“It will also remain functional for ATM withdrawals and Point-of-Sale (POS) transactions nationwide.

“To obtain the replacement card, customers are instructed to visit the nearest Ecobank branch, request the Verve debit card, and collect it at no cost,” the bank said.

The move follows a growing trend among Nigerian banks to prioritise local card schemes like Verve, which are often more cost-effective and resilient to international payment disruptions.