EXIM Bank Tanzania, a commercial bank in Tanzania, has launched a new EMV enabled debit card called Faida EMV Debit Card to replace the existing magnetic stripe card for enhancing its transactions.

The new card will provide enhanced security with an embedded chip and additional PIN verification that will make customer’s data virtually difficult to be copied or tampered with, reported Tanzania Daily News.

Faida EMV debit card will allow customers to access their accounts and transact from any MasterCard certified ATMs and POS machines across the globe.

George Shumbusho Exim Bank head of Treasury said at a news conference in Dar es Salaam: "With Exim Bank Faida EMV debit card a customer can rest assured that his/her card transactions are safe and completely secure.

"Exim Bank believes that "Innovation is Life", therefore we will keep innovating new technologies that goes in-line with the technological advancement into today’s world to address the issues and challenges related to cyber security."

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