With the new banking Transaction regulations by the central bank to encourage cashless and careless transactions, Cardless Transaction can be done using a Paycode.
What’s a Paycode?
A Paycode on the verve world app is a feature that lets banking customers withdraw cash from an Atm or pay for merchandise at a P.O.S (Point Of Sales) stand without his or her ATM Card.
How to get a Paycode
Step 1: From Google store on your smartphone download the verve world app and install.
Note: Service charge would apply.
Step 2: Once you have opened the app, you will have to sign-in, once you’ve done the necessary things for signing up which is providing a valid email and password, then your verve world app is ready for use for any transaction.
Step 3: Generating a Paycode
To Generate a Paycode you must have added into your e-mail either your verve, Mastercard or Visa ATM.
Step 4: Adding A card to your e-wallet
You would have to add a new card to your e-wallet “verve app” then put in your card details such as the 16 digits number at the front of your ATM card and the last 3 digits the back of your ATM card (the CVV).
After you have successfully added your card a new screen will be displayed where you will have to go to the menu and click Paycode then go to the “cash out section” and tap ATM to generate a cash-out pin, tapping the ATM option on the cash-out section indicates that you would be using an ATM for your transaction then type in the amount you need and a cash-out pin would be given to you.
Then move to the payment card section and select your card either verve, master card or Visa. Then click on “Get Paycode”.
Please note that the code would expire after 24hours.
An alternative way of generating a Paycode is by dialing 322″8amount# on the number you linked to your ATM transactions. For now, only a few banks support cardless transactions such as Guaranty Trust Bank, Stanbic IBTC, Fidelity and heritage bank.
How To use the Verve Paycode for a Cardless Withdrawal from ATMs
Go to any of the banks that support Cardless Transactions
Click on the Enter button from the keypad.
Select quick teller cash out from the various option displayed on the ATM screen.
Then type in your details in the following options that will be displayed
- Your 4-digits cash-out pin
- Phone Number
- Then click on the Enter option and wait for your cash to be dispensed.