Pakistan-based Habib Bank (HBL) has begun issuing EMV Visa Debit Card and selected TPS as its technology partner, a global provider of cards and payment solutions.
In order to support acquiring of Visa EMV cards on its multi-vendor ATM network, Habib Bank has upgraded its IRIS Switch, Finextra has reported.
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IRIS is a multi-channel enterprise switch which is fully compliant with EMV standards of card issuing and acquiring.
The implementations have been concluded for a wide range of card schemes including VISA and MasterCard.
HBL payment services group head, Faiq Sadiq, said: "Migrating to chip cards is a major milestone for HBL as it protects our client’s data much more securely. This technology will boost confidence on usage of cards and increase market acceptability of chip-based payments."
TPS chief marketing officer, Shahzad Shahid, added: "The shift towards EMV by HBL shall not only give a more secure payment instrument to its customers but also set the direction for the banking industry in Pakistan."
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