Visa signs agreement with Saudi British Bank
Riyadh, June 1, 2014
Visa, one of the world's leading payment solutions providers, has partnered with the Saudi British Bank (SABB) to issue Visa debit cards to all new and existing SABB customers.
Under this agreement, SABB customers will be able to pay directly, conveniently, and securely with funds from their SABB account for goods and services directly at millions of merchants around the world.
In addition, the card will include online purchases capability and card not present transaction 'CNP' in the near future.
Ihab Ayoub, Visa (GM) for Mena region, said: "SABB is one of the fastest growing banks and we are proud to partner with them on this debit card agreement, which is a milestone in the technology based banking industry in Saudi and supports our goal of growing the local economy and enhancing our partners’ customer experience."
Ahmed Gaber, the country manager for Saudi at Visa, said: “Over the years, Visa has worked closely with SABB to meet and exceed customer expectations, and with this agreement, cardholders can now use their debit cards here in Saudi Arabia and around the world across millions of merchants, and ATMs.”
SABB Visa debit cards will be equipped with EMV chip and pin solutions. The EMV chip and pin technology offers dynamic authentication values for each transaction, thus increasing the security on card usage.
In addition, SABB has introduced the ability for Visa Debit cardholders to set their PIN via the phone banking IVR, he noted.
Majed Najm, the general manager of retail banking and wealth management at SABB, said: "Thanks to partners like Visa, who are committed to working closely with us to further develop the electronic payment technology, we are able to grow our product portfolio and provide customers with efficient and convenient choices that enhance their transaction experiences.”
Visa and SABB celebrated their new debit card agreement at a ceremony held at SABB head office and attended by representatives from both parties.-TradeArabia News Service