Unveiled at a press conference at the Four Seasons Hotel Doha, the International Bank of Qatar (IBQ) announced the launch of Qatar’s first ever translucent, curved design and chip-enabled MasterCard Unembossed Debit Card, known as the MC.
The latest of IBQ's innovative financial retail products; the stylish MC IBQ Card is the first such debit card in Qatar and the Middle East & Levant region. The EMV (Europay, MasterCard & Visa) compliant card contains a micro-chip which can be used together with a pin-number to offer enhanced security against fraud when making a financial transaction. EMV chip enabled cards use encryption algorithms that provide authentication of the card at the processing terminal with instant authorization from the transaction processing centre.
The chip in the MC IBQ MasterCard Debit Card gives cardholders the additional benefit of having other enhancements on the card. The introduction of applications, such as ID and loyalty programs, can be added to the new MC IBQ MasterCard Debit Card which will develop into a multi-purpose card offering IBQ's customers a wider variety of financial options in a secure and stylish manner.
At the press conference MasterCard International and Network International joined IBQ in celebrating the launch and unveiled the unique features of this unique card.
"We are proud to be collaborating with Qatar Central Bank (QCB), MasterCard International and Network International in introducing Qatar’s and the Region’s first translucent MC MasterCard Debit Card under IBQ’s name and through this we will help place Qatari banking in a leading position throughout the whole Middle East and North Africa region," said Michael H. Williams, General Manager of IBQ.
Launched to coincide with the start of the travel season, the MC IBQ MasterCard enables its holders to use their card at more than 26 million locations around the world, which include more than 1 million ATM locations worldwide. The MC IBQ MasterCard Debit Card is designed to ensure IBQ's customers receive convenient and secure access to their funds whenever and wherever needed.
Williams continued, "Our customers are internationally focussed and technologically aware so this is an ideal solution for them as it offers global usage and enhanced security. We are honoured to be the first regional bank to offer this card and this reflects our commitment to offer our innovative services for our discerning and empowered customer base to help in our aim towards a distinctive leadership position throughout Qatar and the region."
Eyad Al-Kourdi, Vice President & Country Manager, UAE & Qatar, MasterCard International said “MasterCard International is delighted to collaborate with IBQ in developing this innovative unembossed debit card. The launch of the MC IBQ MasterCard Debit Card reinforces the strong affiliation between MasterCard and IBQ. The advanced functionality of the MC card together with the MasterCard acceptance network and the security and convenience features, will maximise cardholder satisfaction. We are confident that this new, stylish, first of its kind card, will be a great success.”
Network International (NI) who also joined IBQ in celebrating the launch of the new DebitCard expressed their sincere gratitude for the joint collaboration. Ram Chari, General Manager, of NI said “Network International is known for giving the ME market several pioneering solutions. We are both happy and proud, to be associated with International Bank of Qatar in its endeavor to deliver next-generation cards to the Qatar market. We are hopeful that the new translucent card with a curvy edge will give the bank an ‘edge’ above its competitors.”
During the press conference AbdulAziz Al-Khater Retail Banking Manager at the International Bank of Qatar (IBQ) stressed on the importance of offering customers high flexibility and the security of payment cards. "Bank cards are all about expedient and convenient access to money. With the first ever EMV enabled Debit Card in Qatar, we're now able to expand our customers' options by allowing increased flexibility through authenticating higher, more secure, debit card payment options. The new translucent curved design also allows us to offer our customers this option in a distinctive and very stylish manner."
The new MC2 IBQ MasterCard Debit Cards will be available to all new customers wishing to open accounts with the bank. All IBQ’s existing debit cards will be converted to the new MC2 IBQ MasterCard Debit Card on a phased basis.
© 2006 Al Bawaba (www.albawaba.com)
