New chip cards to offer a range of benefits to cardholders
Doha - Qatar National Bank (QNB), in association with MasterCard Worldwide, today launched the QNB MasterCard Unembossed chip debit card in Qatar.
The QNB MasterCard Unembossed chip debit card, which comes equipped with the latest chip card technology, is a new MasterCard debit card issued to QNB cardholders for free, providing them with 24 hours access to their accounts.
Mr. Ali Shareef Al Emadi, Acting Chief Executive of QNB said, "The MasterCard Unembossed chip debit card has been launched to offer cardholders a payment card with enhanced chip features, combining the convenience of a chip-enabled card with a greater level of security, thus falling in line with our strategy to combat credit and debit card fraud."
QNB is conducting daily draws for three months, offering cardholders who collect their QNB MasterCard Unembossed debit card the chance to win QR 2,000. Once the cardholders collect their cards, they are entered into the daily draw for the remaining days of the promotion. Therefore, the sooner the cardholders collect their debit cards, the more chances they have to win. Cardholders who use their new MasterCard Unembossed chip debit cards will also get the chance to win cash prizes, awarded to the highest spenders.
Denzil Lawson, General Manager, Middle East & Levant, MasterCard Worldwide, said "MasterCard and QNB have cooperated closely to develop this initiative for MasterCard cardholders in Qatar. Chip enabled payment cards represent a faster and more convenient way to pay. Having both a chip and magnetic stripe capability ensures that cardholders have the opportunity to use their cards at more than 25 million acceptance locations around the world, including more than 1 million ATM locations worldwide. The launch of QNB MasterCard Unembossed chip debit card demonstrates our commitment to share our global expertise to further develop advanced payment solutions across the Middle East."
The new MasterCard Unembossed chip debit card comes with a tiny addition that makes a huge difference; a micro chip that stores all the data of the cardholder. The microprocessor, embedded in the card, carries encrypted data ensuring increased security.
The new QNB MasterCard Unembossed chip debit card has both a magnetic stripe as well as a chip functionality. The card will offer QNB'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.
Around the world payment cards and card terminals are becoming chip compliant.
QNB MasterCard Unembossed chip debit cards are great alternatives to carrying cash. It eliminates the need to write cheques or use ATM's to withdraw cash. It is faster, more convenient and can be used to pay for all day to day purchases anywhere the cardholders see the MasterCard Logo.
QNB and MasterCard have jointly served customers for several years bringing them the best products and services. Recently, QNB was honored at the "GMR Effectiveness In Marketing Awards" ceremony conducted by the Gulf Marketing Review magazine. The highly recognized award was won by QNB for its Qatar Airways Co-branded MasterCard credit card in the "New Product Launch" category. QNB and MasterCard were the first to launch a Qatar Airways co-branded card, offering cardholders the fastest way to earn Qmiles when purchasing with their card.
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About Qatar National Bank (QNB)
Qatar National Bank (QNB) was established in 1964 as the country's first Qatari-owned commercial bank, with an ownership structure split between the Government of Qatar (50%) and the private sector (50%).
QNB has steadily grown to be among the largest banks in the region and is by far the leading financial institution in the country with a market share approaching 45% of banking sector assets. QNB has the largest distribution network of 39 branches and offices, in addition to 7 Islamic branches, and around 120 ATM's.
QNB international presence is rapidly expanding with new locations in Oman, Kuwait and Yemen, supplementing existing branches in London and Paris and Representative Offices in Libya, Singapore and Iran.
The London-based Ansbacher, QNB's Wealth Management and Private Banking subsidiary, operates in Switzerland, Channel Islands, the Bahamas, Dubai International Financial Center and Qatar Financial Center. Ansbacher was the first financial institution to be granted a license to operate at Qatar Financial Centre providing a wide range of wealth management services in Qatar and the region.
QNB offers a full range of retail, corporate, investment, treasury, wealth management, and Islamic banking products and services for individuals, corporate institutions and government entities. QNB is constantly striving to provide intelligent banking solutions and its range of products and services, and delivery channels across all disciplines continues to be unrivalled.
Through its affiliate, QNB Al Islami, QNB was the first commercial bank in Qatar to offer Islamic Banking products and services, and the first Qatari bank to launch equity funds (Al Watani Funds) for companies listed in the Doha Securities Market.
QNB has the highest credit rating among Qatari banks from leading rating agencies including Standard & Poor's, Moody's, Fitch, and Capital Intelligence. The Bank has also been the recipient of the "Best Bank in Qatar" Award from leading international specialized financial publications. .
QNB has an active community support program and sponsors various social, educational, and sports events.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 16 billion transactions each year, and provides industry-leading analysis and consulting services to financial institutions, customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to http://www.mastercard.com
For further information, please contact:
QNB's Public Relations Department
Tel: (974) 4252591 - 4252592
E-mail: PR@qnb.com.qa
QNB's website: www.qnb.com.qa
© Press Release 2007
