MUSCAT -- BankDhofar, in association with MasterCard Worldwide, a leader in advancing global commerce, has launched Oman's first BankDhofar MasterCard chip card. The new BankDhofar MasterCard chip card has both a magnetic stripe as well as chip functionality. It will offer BankDhofar's MasterCard cardholders increased security and will mitigate fraudulent and disputed payments. When making a purchase with their card, cardholders have the opportunity to key in their unique PIN, thereby validating their identity, approving and processing the transaction.
Sumit Mittal, Country Manager, Oman, Middle East & Levant, MasterCard Worldwide, said: "We closely cooperated with BankDhofar to develop this first of its kind initiative in Oman, offering MasterCard cardholders the ease and convenience of chip-enabled MasterCard credit cards. MasterCard's knowledge and expertise in advanced payment solutions around the world has facilitated the development of this payment card. We are committed to bringing new offers and benefits to our cardholders in Oman and look forward to co-operating with BankDhofar as they further develop their business portfolio."
Ahmed al Shanfari, CEO, BankDhofar, commented, "We are very pleased to offer our consumers cutting edge technology and service through the introduction of our new credit card with advanced chip features. Our endeavour has always offered our customers the most up-to-date banking services and products, while maintaining the highest standards of security. We are proud to be driving Oman's credit card payment industry to a higher platform. This milestone reflects the huge investment we have made towards ensuring that our customers get the very best products and services that the banking and financial industry in Oman has to offer."
Mudit Saxena, AGM Consumer Banking, BankDhofar commented, "The heightened features of the card will boost BankDhofar credit cardholders' confidence and encourage them to make greater use of their cards. We intend to replace all our existing credit cards with the new credit card that possesses the enhanced chip feature. This new chip cards and PIN technology ensures the maximum protection against fraud." The move to chip card technology is the latest innovation in the rapidly-changing debit and credit card environment, and demonstrates the industry's efforts to further secure electronic payments.
Already tested, proven and in wide use around the world, chip cards provide unparalleled security for the payment card industry. The innovative technology behind the chip card affords both merchants and cardholders greater convenience at point-of-sale.
By Staff Reporter
© Oman Daily Observer 2007
