Oman Arab Bank signs partnership agreement with Visa
Oman Arab Bank (OAB) has joined hands with global payments technology company, Visa, in a strategic partnership agreement, according to a statement. The partnership aims to convert the bank’s current electron cards to secure chip-and-PIN debit cards.
Under the arrangement, OAB customers will be able to utilise their cards equipped with the EMV chip-and-pin technology to ensure all payments are made conveniently and securely at millions of merchants around the world.
Commenting on the joint venture, Fahd Amjad, GM Retail Banking said, “As a leading bank in Oman, our focus has consistently been to enhance customer experience by providing a wide range of innovative solutions and services. Our long-standing relationship with Visa goes back a decade. Our collaboration this time will result in the first contactless Visa debit card in Oman, secured by EMV chip and PIN technology of global standards. We are proud that once again through innovation we will create value for our customers. The new EMV enabled cards will be perfectly compatible with our newly introduced ATM software, making our digital offering stronger than ever before."
Sharing similar sentiments, Ahmed Gaber, Visa General Manager for Oman, Kingdom of Saudi Arabia, Kuwait, and Bahrain said, “With the use of electronic payments accelerating in Oman, it is essential that consumers have the tools to shop safely and securely with their cards. EMV Chip and PIN cards help to protect both the consumer and the merchant by adding an extra layer of security to a transaction while keeping the payment process quick and simple. Visa is delighted to work with OAB to roll-out the technology and to help bring additional peace of mind to its customers.”
OAB was established in 1984 and now operates more than 65 branches and offices and over 135 ATMs across the Sultanate.