According to the recently signed agreement, AFS will provide BNP Paribas Bank with technical support as well as consulting services to facilitate the migration to its current system to become EMV compliant. The services AFS is set to provide BNP Paribas Bank will include; EMV certification support, Applications System setup, online testing and certification, Launching live program, Chip Card Vendor Selection.
Mr. Mohamed Bakkal - Regional Secretaire General, BNP Paribas Bank: 'EMV Compliance is a high priority for BNP Paribas. The Bank is committed to successfully completing the EMV migration requirements as soon as possible. We believe in bringing our card services to a world-class standard and EMV compliance is a must to achieve that objective. AFS was naturally the preferred partner because of its extensive experience in payment cards management and its state-of-the-art- technical capabilities.'
EMV is arguably the most radical change to the card payment industry since the original introduction of payment cards. The implementation of an EMV smart card based payment infrastructure will not only put an end to card related fraud, it will also support a whole new generation of card-based applications that will reduce operating costs, create new business opportunities and revenue channels for banks.
Mr. Rasool Hujair AFS CEO commented, 'Moving ahead with this agreement means that BNP Paribas will be one of the very first banks in Bahrain with card products meeting the EMV requirements of MasterCard. We are pleased with the assignment to enable the banks achieve their business objectives.'
'We offer our client banks a smooth migration to EMV at a lowest cost possible; our Card Personalization Center is both Visa /MasterCard certified, equipped with the state-of-the-art technology and supported by experienced staff to produce EMV compliant cards that can be delivered to banks' customers around the clock'. Mr. Hujair concluded.
Browse
related articles
BNP Paribas Bank signs up AFS to provide EMV migration services
- Bahrain: Wednesday, February 15 - 2006 at 14:37
- PRESS RELEASE
Related content
Arab Financial Services Company B.S.C (c) (AFS), the region's leading provider of electronic-payments and consumer finance-outsourcing services, has announced an agreement with BNP Paribas Bank to provide the bank with EMV migration services which will ultimately enable BNP Paribas bank branches in UAE, Qatar and Bahrain to issue EMV compliant credit cards for its customers.
Article Options
Log in to request more information from Arab Financial Services (AFS)
Posted by Lara Lynn Golden, News EditorWednesday, February 15 - 2006 at 14:37 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
Notes and Media Contacts »
About Arab Financial Services (AFS):
AFS is the leading Arab company for electronic banking, personal payment instruments and related services. Established in 1984, AFS is in a strong financial position with backing from leading international financial institutions in the Arab World. AFS is the largest payment card processor in the Middle East and North African regions. AFS is Principal Member of Visa and MasterCard Payment Associations and an authorized third party processor centre. Over 50 Banks in the region are connected to AFS's online card management integrated solutions. AFS offers diverse services ranging from 'get-started' to fully-fledged on-going card processing & related services, assisting banks to issue Visa and MasterCard to their customers through sponsorship card programs. AFS offers flexible and customized solutions to suit the specific requirements of financial institutions in the region, including full Arabic language functionality.
About BNP Paribas:
BNP Paribas is a European leader in banking and financial services. BNP Paribas is the first bank in the Euro zone in terms of net income (2004). The group has one of the largest international banking networks, present in over than 85 countries with over100 000 employees, including 67,000 in Europe. BNP Paribas enjoys key positions in its three core businesses: Corporate and Investment Banking, Asset management & Services and Retail Banking.
BNP Paribas has been operating in the Gulf for over 33 years offering the expertise of all core businesses on the ground. The bank have an ambitious Development strategy in the G.C.C. to expand its regional network in the region (Bahrain, Abu Dhabi, Dubai, Doha, Kuwait, and Riyadh) and better serve its Clients in the Middle East. With its regional management based in Bahrain since 2001, BNP Paribas in the Gulf region accounts for approximately 370 employees,working for three core business lines of the Group:
- International Retail and Financial Services
- Corporate and Investment Banking
- Asset Management and Services
Media Contacts
Radwa Allabban
PR Senior Account Manager
Memac Ogilvy Public Relations
Tel: +973 17578726
AFS is the leading Arab company for electronic banking, personal payment instruments and related services. Established in 1984, AFS is in a strong financial position with backing from leading international financial institutions in the Arab World. AFS is the largest payment card processor in the Middle East and North African regions. AFS is Principal Member of Visa and MasterCard Payment Associations and an authorized third party processor centre. Over 50 Banks in the region are connected to AFS's online card management integrated solutions. AFS offers diverse services ranging from 'get-started' to fully-fledged on-going card processing & related services, assisting banks to issue Visa and MasterCard to their customers through sponsorship card programs. AFS offers flexible and customized solutions to suit the specific requirements of financial institutions in the region, including full Arabic language functionality.
About BNP Paribas:
BNP Paribas is a European leader in banking and financial services. BNP Paribas is the first bank in the Euro zone in terms of net income (2004). The group has one of the largest international banking networks, present in over than 85 countries with over100 000 employees, including 67,000 in Europe. BNP Paribas enjoys key positions in its three core businesses: Corporate and Investment Banking, Asset management & Services and Retail Banking.
BNP Paribas has been operating in the Gulf for over 33 years offering the expertise of all core businesses on the ground. The bank have an ambitious Development strategy in the G.C.C. to expand its regional network in the region (Bahrain, Abu Dhabi, Dubai, Doha, Kuwait, and Riyadh) and better serve its Clients in the Middle East. With its regional management based in Bahrain since 2001, BNP Paribas in the Gulf region accounts for approximately 370 employees,working for three core business lines of the Group:
- International Retail and Financial Services
- Corporate and Investment Banking
- Asset Management and Services
Media Contacts
Radwa Allabban
PR Senior Account Manager
Memac Ogilvy Public Relations
Tel: +973 17578726
Disclaimer »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / 4C. AME Info FZ LLC / 4C is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
