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Devadason: Consumers Are Increasingly Inclined Towards Mobile and Online Payments through Other Devices
Boubyan Bank has announced the launch of its new service to its Visa debit cardholders, credit cardholders, and prepaid cardholders, using Samsung watches and phones. This comes as a part of the bank’s continued efforts to offer the latest digital payment services to its customers.
Mr. Yousef Al-Majed, Executive Manager - Cards Products, stated: “We have recently launched our contactless payment service using Fitbit & Garmin smart watches, being a part of the UTap service, as our customers are used to this contactless payment service that was previously offered for the first time in Kuwait by Boubyan Bank.”
“As per our strategy in Boubyan which focuses on introducing innovative payment services using NFC-enabled devices, we are now launching Samsung Pay service using Samsung phones & smart watches inside and outside Kuwait.”, Al-Majed added.
He went on to stress: “Our innovation and creativity in our services and products stems from our understanding of our customers’ needs, and our interest in meeting their expectations, namely, to cope with the requirements and the accelerating developments witnessed by the world, especially in light of the repercussions of the Covid-19 pandemic, which changed many aspects of our daily lives.”
On his part, Mr. Ankush Devadason, Visa Country Manager in Kuwait, stated: “With the high penetration of internet-connected devices in all our life aspects, and the increased use thereof during the Covid-19 outbreak, we can see how many consumers have become inclined towards adopting online payment services through their smart phones whether in physical or e-stores.”
“As Kuwait has very tech-savvy demographics, especially consumers who rely mainly on their phones, we expect a wide-ranging response to the launch of Samsung Pay in the Kuwaiti market.”
“Visa cardholders in Kuwait will now be able to experience how easy and quick payments can be using Samsung Pay. They will enjoy this technology to make their payments in a secure and reliable manner owing to the embedded security features which are supported by advanced encryption by Visa.”, Devadason added.
He went on to add: “We are happy to conclude our partnership agreement with Boubyan Bank to enable our Visa cardholders in Kuwait to use Samsung Pay.” This is a very important step as it will boost the contactless payment acceptance in Kuwait, and support the government’s efforts towards the promotion of e-commerce in the country.
** Simplicity & Ease of Use
Speaking of how to use the payment service through Samsung Pay, Al-Majed stated: “It is very easy. All the customer needs to do is to choose whether to confirm his previously registered PIN or his other biometric security features such as his fingerprint, then draw his device close to the P.O.S. If the P.O.S. does not support contactless payments, the customer can simply tap his device nearby the magnetic strip of the P.O.S. where the card is swiped. If the P.O.S. is Tap-and-Go enabled, the customer can merely tap his phone on the device.”
“The most prominent aspect about Boubyan Bank’s services and products, beyond ease of use and simplicity, is security while using them. Upon using Samsung Pay, the customer must be reassured that all his purchases are covered with fraud protection, and that he is shopping without storing any card numbers on the smart watch used by the customer. This adds another layer of security to the banking card’s data.”, he elaborated.
It is worth mentioning that Boubyan Bank received a number of regional and international awards over the past years, the most prominent of which was the World's Best Islamic Digital Bank by Global Finance in addition to being named the Best Islamic Digital Bank in the Middle East, the Best Islamic Digital Bank in Kuwait, the Best Mobile Banking App, and the Best Innovative Bank.
Al-Majed concluded by emphasizing that: “The upcoming period will witness the launch of many unique digital services and products aiming to cope with the post-Covid-19 developments.”
© Press Release 2020
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