Dubai Chamber of Commerce and Industry (DCCI) has partnered with the Commercial Bank of Dubai (CBD) to launch a new prepaid card, CBD Visa card.
Following the launch of card, the organisation will stop accepting cash from 1 April 2014.
To avail the card, DCCI customers should undergo simple application process by presenting an Emirates ID and a trade licence or Dubai Chamber membership certificate copies to the teller along with a minimum loading amount of up to AED5,000 ($1,361).
The card is secured with a chip and pin technology and is free of any fee for the first loading, but will be charged AED3 ($0.81) recharge fee for subsequent reloading.
DCCI institutional support sector senior vice-president, Essa Ali Al Zaabi, said the new payment system will help Dubai Chamber to provide quality world-class services to its customers while considerably reducing the serving time required per transaction.
CBD consumer banking head, Frans Jan Burkens, said the CBD-Dubai Chamber co-branded pre-paid card is another major step in enabling e-services and solutions across the breadth of the Chamber’s diverse members, and cashless banking services will contribute to facilitating the business of the Chamber’s members by reducing the cost of their transactions and enhancing the efficiency in business transactions.