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September 29, 2015

Riyad Bank unveils contactless EMV card in Saudi Arabia with Gemalto

Saudi Arabia-based lender Riyad Bank is migrating its entire portfolio to Gemalto's Clarista Contactless EMV card.

By Verdict Staff

Saudi Arabia-based lender Riyad Bank is migrating its entire portfolio to Gemalto’s Clarista Contactless EMV card.

The new card, powered with MULTOS operating system, represents the country’s first contactless payment method.

Riyad Bank senior vice president and head of retail products and services section Khalid Hariry said: "Riyad Bank achieved SAMA certification recently and Gemalto was first to offer a dual interface card that meets this requirement, a key determining factor in our decision.

"Based on Riyad Bank’s long-standing and successful business partnership with Gemalto and their position as world leader in contactless EMV cards, they were the natural choice for our innovative project."

Gemalto president of Middle East and Africa Eric Claudel added: "Riyad Bank will reap the benefits of being first to market in Saudi Arabia, with a solution that offers broad appeal, especially for young, fashion-conscious consumers. Gemalto is committed to supporting Riyad Bank in their contactless strategy, which could evolve towards mobile NFC solutions."

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