Bermuda’s Clarien Bank has teamed up with MasterCard to unveil a new technologically advanced debit card.

The new card incorporates EMV/chip technology supported by signature for point-of-sale transactions, and MasterCard’s contactless ‘tap & pay’ service PayPass, Bernews reported.

The EMV/chip technology will offer added security to customers by helping securely store card information.

The card will offer more speed and convenience to customers at the point-of-sale, with its improved security features enabling the lender to monitor, detect and combat fraud more effectively at every step of the purchasing process.

In addition, it will help the bank’s customers gain access to wider benefits of MasterCard, such as the MasterCard SecureCode to ensure a secure online shopping.

Clarien Bank CEO Ian Truran was quoted as saying by Bernews: "Providing clients with the greatest security possible has always been of upmost importance to us.

"With the pace of life rapidly changing, contactless payments is becoming the new norm and we are pleased to offer our clients the very latest in technology and security, providing continued peace of mind."