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Al Rajhi Bank installs chip-card ATMs
- Saudi Arabia: Wednesday, January 07 - 2009 at 15:57
Al Rajhi Bank, the largest Islamic Bank in the world in terms of market capitalization, has announced that it is installing advanced Automatic Teller Machines (ATMs) across Saudi Arabia that accept chip-cards based on international standards. Visa operates the world's largest retail electronic payments network and has provided technical and consultancy support for the installation, which will enable all Visa chip card transactions to take place using the chip on the card rather than the less secure magnetic stripe at any of Al Rajhi Bank ATMs. The new ATMs will be situated at malls, streets, petrol stations, hospitals, airports and hotels and are already in operation. The ATMs will still be able to accept cards without a chip.
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Jeff Florian, Senior ReporterWednesday, January 07 - 2009 at 15:57 UAE local time (GMT+4)
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