Now That We Can't Use ATM Card In 2016 For Abroad And Online Transactions; What Next?

Tell me, how will it feel when you want to pay for goods online on Amazon, Ebay, etc and your ATM card is rejected? What will you do when you try to withdraw money with your Nigerian MasterCard after traveling back to that foreign country and the machine refuse to pay you? Bloggers what will you do when your domain that are hosted in foreign companies expire and you try to renew it the usual way with your mastercard and it refuse to renew? This and many other difficulties is what Nigerians will be facing two days from now as we match into the year 2016. This is a bad news and a huge setback to online business in Nigeria.

According to CBN, before the Central Bank of Nigeria will start thinking of lifting the current restriction that is placed on ATM card usage abroad and foreign site business transactions, Nigeria must increase the foreign reserve to at least $50billion. Remember that the foreign reserve currently stands at $29billion. This means we still have a long way to go and some years before this will be solved unless a miracle happens tomorrow.

As of today, one dollar is equivalent to N270.50 in Nigeria and this is the worst record ever as of the time of publishing this post.. 

Am still confused if this will affect PayPal users and Pioneer users because some people fund it with their Naira account.So lets keep our hands crossed and see how it goes.

ALTERNATIVE WAYS TO DO ONLINE TRANSACTIONS WITHOUT NAIRA MASTERCARDS

Dollar Master Card 

This is one of the best alternatives as those that are using GTBank and have a dollar account can just work into any nearest GTBank branch in your area and demand for the Dollar Master Card. currently, it’s goes for $50. With this dollar master card, you can do every online transaction with any foreign website and you can also withdraw in naira using the local ATM machine.

PaYoneer Master Card 

PaYoneer Master Card is the best and simple alternative to your normal Naira masterCard and it can be used for any abroad and online transactions. you can also use PaYoneer card to withdraw money from any ATM outlet. To other for this card is not that stressful. Once you have access to the internet, you have a house address and any government identification item like National ID card, Voters card, driving licence etc, you are good to go. The whole process of registration and the Payoneer card ariving to your house takes about 3 weeks. Almost the same process of verification like Google AdSense.

Zenith Websurfer Master Card 

Another alternative is Websurfer which is a moderately good brand of MasterCard that is given by Zenith Bank to interested customers. Remember, Websurfer as the name suggests is only used for online transaction to any site including foreign sites but you can't use it to withdraw money as it is not a local debit card.

Some Requirements Before Going For This Card;

1.       One recent passport photo
2.       Valid National ID Card or Voters card
3.       At least $150 cash

Locate any head Zenith bank, meet their customer service personnel and request for a websurfer account  and they will issue you a form to fill.

So guys what do you think about this development especially for those that buy stuffs from Amazon, Ebay, Aliexpress and son on. Also my fellow bloggers, what is the way forward? I suggest you quickly renew your domain or transfer it to a Nigerian hosting company before we step into the year 2016.

God help Nigeria.