Bank Dhofar and AFS sign up for advanced credit card security

Bank Dhofar have successfully launched the first full option Visa and MasterCard chip-enabled credit cards in the Sultanate of Oman.

Manama-Bahrain-February 19, 2007

AFS (Arab Financial Services Company B.S.C (c)), the region’s leading provider of electronic-payments and consumer finance-outsourcing services, had announced an agreement last year with Bank Dhofar, to provide the bank with chip-enabled Visa and MasterCard cards. This made Bank Dhofar the first bank in Oman to issue full option chip-enabled Visa and MasterCard credit cards to its customers.
According to the signed agreement, AFS provided Bank Dhofar with complete technical support as well as consultancy services that facilitated the migration to its current system. AFS has provided Bank Dhofar with Visa and MasterCard certification support, Applications System setup, online testing and certification, launching a live program and chip card vendor selection.

According to Ahmed Al Shanfari, CEO - Bank Dhofar, “Our endeavour has always been to offer our customers the most up-to-date banking services and products, while maintaining the highest standards of security. We are proud to be driving Oman’s credit card payment industry to a higher security platform. This milestone reflects the huge investment we have made towards ensuring that our customers get the very best products and services that the banking and financial industry in Oman has to offer”.

Mr. Rasool Hujair, AFS CEO, commented, “AFS and Bank Dhofar have helped to assure their customers with the highest level of security. EMV Visa and MasterCard will enable customers to build the sense of trust and dependence within the banking system. The agreement between AFS and Bank Dhofar has established an everlasting relationship that will surely be a positive evolution in the banking industry,” he added.

The move to chip card technology is the latest innovation in the rapidly-changing debit and credit card environment, and demonstrates the industry's efforts to further secure electronic payments. Already tested, proven and in wide use around the world, chip cards provide unparalleled security for the payment card industry. Chip cards are plastic cards with an embedded computer chip and provide the ultimate protection against counterfeit and lost and stolen card fraud. In addition to providing increased security, the innovative technology behind the chip card also affords both merchants and cardholders greater convenience at points-of-sale.