Emirates NBD, the largest banking group in the Middle East in terms of assets, in association with Visa, announced today the launch of its complete suite of Chip enabled Debit Cards. The new Emirates NBD Visa Debit Card comes equipped with the latest in card technology with the new generation of CHIP cards.
The bank which launched its new brand in November 2009, also unveiled its complete suite of Debit cards which cater to suit the varying needs of its customers. The new range of cards include vanilla offerings to the Personal Banking segment, in addition to variants like Platinum Debit card targeted at the Priority Banking segment, Infinite Debit card targeted at the Private Banking segment and a Business Banking Debit card catering to the large SME segment.
“Emirates NBD is proud to again be the UAE’s leader in product and service innovation, launching the country’s newest and most secure debit cards with EMV chip technology. This Visa 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 fraud.” said Jamal Bin Ghalaita, Group Deputy CEO, Emirates NBD.
“Also we have segmented our customer base and have thereby targeted the right Debit Card product to the right customer segment. This has been a key priority given that we are the market leader in Debit Cards and this is the fastest growing segment across the globe”, he added.
Kamran Siddiqi, Visa’s General Manager for GCC, Levant, Pakistan and Afghanistan said: ‘Visa is delighted to partner with Emirates NBD and enable Chip and Pin technology on the new suite of Debit cards. Chip and PIN technologies add an important security layer to transactions, bringing convenience, speed and peace of mind to cardholders and merchants alike. Emirates NBD now offers a full stable of Visa Debit products, from HNW cards to business Debit cards, enabling everyone to take advantage of the benefits that Debit offers.”
The Emirates NBD Visa chip debit cards are great alternatives to carrying cash. It eliminates the need to write cheques or use ATMs to withdraw cash. It is faster, more convenient and can be used to pay for all day to day purchases anywhere cardholders see the Visa Logo. And what’s more – with the new Chip and PIN technology, transactions are more secure than ever before.
The Emirates NBD Visa Debit Cards can be used to shop online or at any domestic or overseas merchant displaying the Visa logo - over 40,000 in the UAE and more than 24 million retail outlets worldwide. This card can also be used to withdraw cash or make other transactions at more than 650 Emirates NBD ATMs as well as at over a million ATMs world wide. Unlike a credit card, funds are deducted directly from the cardholder's account and there are no monthly bill or interest charges. The new Emirates NBD Visa chip debit card has both a magnetic stripe as well as chip functionality. The card will offer Emirates NBD Debit 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.
All new cards issued since January have been equipped with the latest technology and Cards will be issued to existing customers on a renewal basis; Emirates NBD will contact customers when their card is ready for issue to arrange a convenient time to deliver. Million of chip cards in use in countries around the world today points to the way the bank card industry is heading. Being the largest bank in the UAE, Emirates NBD has made the first move to rollout chip cards on a large scale for its banking customers.
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