MUSCAT, 1 January 2011 – BankMuscat, the leading financial services provider in the Sultanate, has introduced innovative chip-based credit cards in Oman that provide additional security for transactions through Personal Identification Number (PIN).
The launch of the innovative cards comes as part of the ‘Oman Celebrates’ campaign launched by the Bank in commemoration of the 40th National Day celebrations and as part of its strategy to take the lead in introducing innovative products and services.
Sulaiman Al Harthy, Group DGM – Consumer Banking, said: “The initiative heralds the future cards in Oman, in line with the Omani government’s ambitious eGovernance project. The BankMuscat cards are in conformity with international standards and reflect its vision to make payments by cards both a habit and preference, thereby ensuring convenience and security for all card transactions.”
The Chip and PIN cards facilitate a more secure payment platform that provides additional security by securing transactions with PIN. All BankMuscat credit cardholders will automatically migrate to the new card at the time of renewal.
The wide range of BankMuscat Chip and PIN cards features exciting design reflecting its global vision. They ensure a more secure option to pay with cards worldwide. With the new technology, cardholders are required to enter a four digit PIN, known only to them, instead of signature to verify payments at terminals that are Chip and PIN compliant. Cardholders must enter their PIN - as in ATM transactions - to use the cards at POS terminals.
The BankMuscat chip 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 purchases anywhere. With the new Chip and PIN technology, transactions are more secure than ever before.
In yet another initiative reflecting BankMuscat’s commitment to provide the best products and services, all chip plastics will be issued and personalised in-house at its Operations Centre. This unique capability reflects the in-house expertise and established competencies of BankMuscat as the leading Bank in Oman with superior technological and operational strengths.
The customer benefits associated with this facility include service continuity and increased customer confidence and trust in BankMuscat. The Bank ensures immediate replacement of lost or damaged cards instead of having to wait for six to eight working days for new cards from outsourced service providers.
The Bank will provide user guides with the new cards which are ready for future, to help cardholders learn more about the technology and how it works in their favour. BankMuscat Call Centre and website can be visited for more details.