National Bank of Abu Dhabi and Card Tech Limited issue Visa's complete Smart Debit/Credit programme

Today's announcement heralds the first Visa Smart card programme combining full issuer and acquirer functionalities, to be launched in the Arabian Peninsula. The programme illustrates NBAD's commitment to the advancement of payment technologies within the UAE's banking sector. By incorporating 'chip' technology into its overall banking strategy, NBAD is immediately providing its cardholders and retail merchant base with the highest level of payment card security available today.

The launch reinforces the bank's position as one of the regional leaders in the payment industry as well as CTL's role as one of the leading providers of comprehensive and integrated systems in support of its clients.

Iain Jamieson, Visa's Head of New technologies for the Middle East Region said, "The National Bank of Abu Dhabi has confirmed its position as one of the leading banks in the Middle East in terms of technical innovation for consumers' benefit. Not only will the Visa Smart card give NBAD customers the ability to use the latest in payment card technology and take advantage of the extra security features contained on the chip, it will also allow cardholders to become familiar with the 'vehicle' that will undoubtedly carry all banking applications of the future."

The relationship between NBAD and CTL started in June 1992, when the bank first started to issue and acquire Visa magnetic stripe cards. As the bank expanded its personnel and corporate banking services, CTL provided the technology and technical know-how to facilitate this growth. Part of this strategy is e-commerce acquiring, for which CTL provided the transaction processing solution.

Khamis Buharoon, Head of Domestic Banking at NBAD said, "Keeping in line with its mission to place the customer at the heart of the business, NBAD has continued to introduce new services including Internet Banking, WAP services and various other products, which offer a one-stop banking solution to its wide customer-base of individuals as well as corporates. It is in this spirit that the bank has launched the prestigious Smart Card programme, well ahead of mandatory implementation rules that will apply across the world.

CTL has been working on chip card functionality with Visa since 1996. The first rollout of this relationship is Visa's Horizon product, which is being successfully launched in a number of African countries. Visa Horizon has, in the meantime, been fully upgraded to globally interoperable EMV standards. CTL developed the VSDC-compliant systems last year and became a member of the Visa SMART partner programme. Many of CTL's other clients have already licensed Smart card modules, but NBAD is the first to integrate all of CTL's offerings in this area.

Edith Kessler-Charalambous, CTL's Customer Services Manager, said of this project: "We are delighted to be working with NBAD to help ensure the success of this important decision by the bank. Chip is a strategic technology for CTL and our modular offerings can support each bank's individual business case. CTL is also working with other parties in the smart card sector and we plan to introduce further innovations in this area. Smart cards will be one of the main topics covered at CTL's forthcoming User Group."

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