Karachi: MCB Bank, 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 PKR 2 billion and POS transactions of over PKR 100 million. With this latest innovative product, MCB intends to redefine customer behavior by building POS usage habit on debit cards.
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 PKR 10 billion already processed in mobile payments. Going forward, the Visa Debit Card is an essential part of our digital payments arsenal,” said Mr.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.
Visa strives to enhance cardholders’ experiences by offering innovative, value-added products to its growing client base. While debit is a key tool for migrating consumer spending from cash and cheques to electronic forms of payment, Visa will continue to work with all its partners in Pakistan to offer a wide array of credit, debit and prepaid product choices.
MCB continues to stride forward in its drive to offer the best in innovative and synergistic products, having a debit card base standing at over 1.5 million debit cards that make up approximately 10% of the debit market and close to 700 ATM’s which stands out as the largest ATM network in the country.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency.
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