Oman-based BankDhofar has started issuing new EMV chip-based debit cards that allow customers to perform banking transactions smoothly and with enhanced security measures to reduce card fraud risk and scams.
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The bank has implemented the CBO-OmanNET EMV programme to manage chip card transactions, both as an acquirer and issuer, at ATMs and points of sale (POS).
The new feature offers benefits such as high security features, ensures global interoperability of debit cards and also enables account-to-account transfer facility between BankDhofar and other local bank accounts.
The transfer facility will allow BankDhofar customers to transfer funds with limit of OMR5,000 ($12,988) to other local bank accounts by entering the beneficiary card number in the ATM.
BankDhofar head of card centre Ali Taqi said: "The new EMV chip-based debit cards project has been launched at all BankDhofar branches across the Sultanate and they all have the facility to issue new EMV cards.
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By GlobalData"The new technology is a global standard for credit card and debit card payments. It features payment instruments with embedded microprocessor chips that store and protect cardholder data. Introducing chip-based cards will further enhance the security of ATM cards and ensure global interoperability of BankDhofar cards."
