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March 20, 2017

UnionPay to issue NFC and EMV cards in Pakistan

UnionPay International, a wholly-owned subsidiary of China UnionPay, has signed an agreement with Dubai Islamic Bank Pakistan (DIBP) to issue UnionPay QuickPass (NFC) and EMV chip cards in Pakistan.

By Verdict Staff

UnionPay International, a wholly-owned subsidiary of China UnionPay, has signed an agreement with Dubai Islamic Bank Pakistan (DIBP) to issue UnionPay QuickPass (NFC) and EMV chip cards in Pakistan.

With this agreement, DIBP will become the first Islamic bank in the country to issue UnionPay QuickPass (NFC) enabled cards that will allow customers to make contactless payments.

UnionPay International director of products Shuan Ghaidan said: “The cooperation with DIBP this time will offer the local resident new and safer payment options, meeting customers’ needs for more flexible payment methods. In Pakistan, UnionPay cards are widely accepted at the local merchants on their POS Terminals and ATMs.”

Dubai Islamic Bank Pakistan CEO Junaid Ahmed said: “Dubai Islamic Bank Pakistan (DIBP) is expanding its presence in EFTPOS (Electronic Funds Transfer at Point of Sale) network. This agreement now provides a revolutionary opportunity for our customers to best use the “contactless” payment feature via the EMV powered chip found on the card.”

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