BankDhofar launches first Visa Electron Chip cards in Oman

BankDhofar, which is ranked as the best bank in Oman in 2010, is the first bank in Oman to migrate their Visa Electron Card to chip & PIN technology. This technology will provide their customers with more security during their daily transactions as it requires the use of PIN for payments in different merchant outlets.

Mr. Faisal Bin Hamad Al Wahaibi, Assistant General Manager for Retail Banking, said:

"We realize that the spending culture has changed. People prefer to pay through electronic cards for their daily transactions everywhere. We therefore realized that these cards should be highly secured to provide our customers with confidence while paying with it."

"In cases of theft /misplacing cards, the balance amount of the customer could be stolen or misused if not protected by a pin code. The importance of the Visa Electron Chip cards lies here. It is the first card of its kind in the Sultanate. The introduction of this technology was expedited, as we had faith in the benefits of these cards and its role in protecting the accounts of our customers," said Mr. Al Wahaibi.

Mr. Faisal Further expressed confidence that new service would certainly remove the apprehensions and fear of the customer, in case he loses his own electronic card. It will boost the confidence level about the inability of others in using the cards and getting any undue benefit from it.

He said, "The introduction of these cards, which is for the first time in the Sultanate, became possible in July as this was the beginning of the travel and tourism season, in the wake of summer vacations and other holidays. During this time there is always a sharp increase in the usage of electronic cards in different parts of the world. The bank was keen to protect its customers from the consequences of losing their electronic cards and the problems they may face outside the Sultanate in such cases."

He further added that customers could use the Visa Electron Chip cards locally, internationally and anywhere in the world they go.

Mr. Ali Bin Taqi Al Lawati, Senior Director of Cards Services Center, said, "In wake of the increasing risks involved in case of electronic cards crimes in the world, BankDhofar introduced the latest security systems into its electronic cards to give maximum protection to these cards and accounts of its customers."

It is one of most disturbing phenomena of the world where there is an increase in the usage of stolen credit cards.

He said that the Visa Electron Chip card has a confidential personal 'Pin Code' to be kept secret by the customers. The customer enters it in every shopping transaction in the same way as he or she withdraws money from the ATM machines.