Muslim Commercial Bank (MCB), pioneer of electronic banking services in Pakistan, has introduced Pakistan's first chip-based EMV-certified Visa Debit Card. Initial response by customers has been very encouraging and complimented by ATM transactions of over Rs 2 billion and POS transactions of over Rs 100 million. With this latest innovative product, MCB intends to redefine customer behavior by building POS usage habit on debit cards.
Ali Mubashir Kazmi, Group Head Consumer Banking, MCB Bank, said, "We chose Visa as our strategic partner because they have an unmatched suite of payment products that allow our customers to pay securely and conveniently for every type of purchase. We are keen on building long-term alliances with reputable partners, resulting in synergies and value addition not only for our customers but for Pakistan at large."
"Being the first bank in Pakistan to launch Visa Debit EMV chip card in the market is a great achievement for MCB and a milestone for all its Visa cardholders," said Amer Pasha, Country Manager for Visa Pakistan & Afghanistan. "EMV chip technology presents further security, reliability and convenience for making purchases throughout the country and while traveling. We congratulate MCB and its technology partner, Euronet, for successful implementation and for further enhancing electronic payments in Pakistan."
MCB Bank is already a leader in ATM's, Plastics and POS with over Rs 10 billion already processed in mobile payments. Going forward, the Visa Debit Card is an essential part of our digital payments arsenal," said Qasif Shahid, Head of Remote Banking, MCB Bank. MCB bank is leading the debit card industry by combining the security of the chip based debit card with additional convenience features such as card delivery at customers' preferred mailing address, PIN generation and card blocking via the call centre, SMS alerts on POS transactions and the option of making payments through your mobile phone sitting at home irrespective of the telephone company you use or the brand of cell phone you own.-PR
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