Your Naira card can now pay for ChatGPT, Netflix, YouTube
- Nigerian banks, including Access Bank and GTBank, are now allowing international transactions on Naira debit cards after a three-year block.
- Customers can now pay for services like ChatGPT, Netflix, and YouTube without needing virtual dollar cards.
- GTBank has set a quarterly spending limit of $1,000 for international transactions, while some customers report limits as high as $4,000.
The reopening of international transactions for Naira debit cards is a positive step for Nigerian consumers, but the lack of transparency in spending limits raises concerns. MultiChoice's hefty fine underscores the critical need for companies to prioritize data protection. Additionally, SARS's innovative use of AI for tax collection could serve as a model for other countries facing similar fiscal challenges.
