Dubai Islamic Bank (DIB) has rolled out the Visa payWave cards to help customers conduct transactions quickly and easily.

The cards, equipped with the Visa payWave contactless chip technology, use a secure application to approve low value transactions and phasing out the need for PIN numbers and signatures for purchases less than AED300 ($81.7).

The cards incorporate a tiny microchip that sends payment information to a contactless card reader through short-range radio frequency waves.

The process ensures security as the payment information sent does not include the cardholder’s name and instead comprises an encrypted security code unique to each transaction.

Moreover, the Visa payWave-enabled cards only work when the card is within 4cm of the card reader and the payWave terminal can only process one transaction at a time.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

For high-value purchases above AED300 ($81.7), customers need to wave the card and enter the PIN number at the POS terminal.

Visa payWave can be enabled on credit as well as debit cards, and also on a mobile phone.

DIB chief of consumer banking Sanjay Malhotra said: "This new facility showcases how merchants, cardholders and financial institutions are increasingly migrating towards a ‘cashless’ society’.

"We have partnered with Visa to ensure that enrolling in the service is simple, in addition to allowing customers with existing cards to still benefit from this service upon requesting replacements.

"At DIB, we continuously strive to cater to customers’ growing needs and preferences for digital-enabled solutions. Our ongoing partnership with Visa also highlights our sincere dedication to ensuring excellence in customer service and putting cutting-edge technology at our customers’ fingertips."