Safe Card Launch

BankMuscat has introduced a new product called SafeCard. The product, claimed to be the first of its kind in the region, is supported by Visa International.

By introducing the new SafeCard, the bank has joined the world’s banking institutions which have launched such products to their customers.

Announcing the launch of the card, Abdulrazak Ali Issa, chief executive of BankMuscat, said the SafeCard would give the cyber shoppers a new, dependable experience, apart from the relief from the fear of getting cheated.

The SafeCard is a non-physical card designed and developed for online shopping only and cannot be used otherwise. By launching its new product, the bank has assured the customers a worry-free shopping on the Internet. A bank official said that the chances for the card being misused by either a merchant or a hacker 'is absolutely not possible.'

BankMuscat’s SafeCard can be accessed by clicking on the www.safe.card.com.  Utilising the latest in advance software technology created and developed by the bank, all online transactions done by the cardholders are assured of complete safety. An applicant is charged RO 10 as annual fee per card and all the bank’s existing account holders besides new customer can apply for the new product.

The system generates a new virtual card that is valid for just one transaction. Every time the cardholder logs on for making online transaction, a new card number sequence is randomly generated. This security aspect prevents misuse of the card by the hackers or others. Being a virtual card it can neither be stolen, nor lost.

The SafeCard gives a customer to decide on the transaction amount, as well as the validity period.

Also since the transaction is limited to a particular period of time, say from one day to 15 days, there is absolutely no chance of anyone misusing it.

'The online SafeCard interface is very user-friendly with features such as drag and drop that helps the cardholders fill order forms at the merchant’s site just by clicking the mouse.'