RAKBANK has selected Dutch digital security company Gemalto to support its migration to contactless EMV payments in the UAE.
Gemalto will offer dual interface cards that will be personalised by RAKBANK leveraging the Gemalto Dexxis issuance system that has been previously deployed by the bank.
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Gemalto president of Middle East & Africa Eric Claudel said: "Gemalto already enjoys a close relationship with RAKBANK via our Dexxis issuance system, and this successful partnership is now further strengthened by this decision to migrate to our most advanced dual interface payment cards. This deployment enables RAKBANK to stay ahead of the curve as we move towards the era of cashless societies."
Initially, the bank will deploy the cards for rolling out its new RED MasterCard that will facilitate tap and go transactions, as well as will offer a package of loyalty and saving programs.
Later on, the lender will upgrade its entire payment card portfolio to the dual interface technology.
RAKBANK managing director of retail banking Ian Hodges said: "RAKBANK is committed to empowering customers with technology-based solutions that save them time. The launch of our RED MasterCard reflects this drive to offer simple and convenient banking solutions, and benefits from Gemalto’s experience of successful contactless deployments in markets worldwide."
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By GlobalData
