May 2, 2007

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  NEWS: Oman Gets First Chip Card

  Oman's biggest credit card issuer, BankDhofer, has unveiled the Sultanate's very first chip-enhanced credit card. This cutting-edge technology in plastic will allow customers to enjoy the very latest in bank security advances, as well as enjot many benefits beyond the peace of mind that identity theft prevention offers. The full-option chip card still has a magnetic strip along with the functions offered by the chip. Users can expect not only greater security, but a briefer fraud detection process at chip-enabled transaction terminals. All consumer transactions will now requite use of the customer's PIN number, much like Britain's popular and successful "chip and PIN" system. Merchants will be required to insert the card into the reader before the customer enters the PIN, thereby creating a two-party identity validation system.
  
  The move to institute the chip cards is the latest security feature in the ever-dynamic credit card industry, and represents a major opportunity for Oman to lead the pack in instituting more secure payment systems for its consumers. Sultanate banking officials are said to be very excited about the switch. BankDhofar has spoken out on its pride in being the first to bring the cards to the people of Oman, expanding their "reputation for commitment, foresight and remarkable, yet solid growth". BankDhofer prides itself on its progressive approach to customer service for both its retail and corporate clients. The bank runs a network of 48 branches and 85 ATMs across the Sultanate.
  
  
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