Oman Arab Bank (OAB) has partnered with payments technology company Visa to migrate the bank’s current electron cards to secure EMV chip-and-PIN debit cards.
As per terms of the agreement, OAB customers will be able to use their cards equipped with the EMV chip-and-PIN technology. It will help them to transact all payments conveniently and securely at millions of merchants across the globe.
Commenting on the agreement, Oman Arab Bank general manager of retail banking Fahd Amjad said: “As a leading bank in Oman, our focus has consistently been to enhance customer experience by providing a wide range of innovative solutions and services.
“Our long-standing relationship with Visa goes back a decade. Our collaboration this time will result in the first contactless Visa debit card in Oman, secured by EMV chip and PIN technology of global standards.
“We are proud that once again through innovation we will create value for our customers. The new EMV enabled cards will be perfectly compatible with our newly introduced ATM software, making our digital offering stronger than ever before."
Visa general manager for Oman, Saudi Arabia, Kuwait, and Bahrain Ahmed Gaber said: “EMV Chip and PIN cards help to protect both the consumer and the merchant by adding an extra layer of security to a transaction while keeping the payment process quick and simple. Visa is delighted to work with OAB to roll-out the technology and to help bring additional peace of mind to its customers.”