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May 2, 2007
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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