Visa agreement

OMAN ARAB BANK SIGNS STRATEGIC PARTNERSHIP WITH VISA

Muscat, 3rd January 2017: Oman Arab Bank (OAB) has joined hands with Visa, the global payments technology company, in a strategic partnership agreement that will convert the Bank’s current electron cards to secure chip-and-PIN debit cards. Under the agreement, OAB customers will be able to utilize their cards equipped with the EMV chip-and-pin technology to ensure all payments are made conveniently and securely at millions of merchants around the world.

Speaking on the occasion Mr. Fahd Amjad, GM Retail Banking said, “As a leading bank in Oman, our focus has consistently been to enhance customer experience by providing a wide range of innovative solutions and services. Our long-standing relationship with Visa goes back a decade. Our collaboration this time will result in the first contactless Visa debit card in Oman, secured by EMV chip and PIN technology of global standards. We are proud that once again through innovation we will create value for our customers. The new EMV enabled cards will be perfectly compatible with our newly introduced ATM software, making our digital offering stronger than ever before.”

Commenting on the partnership, Ahmed Gaber, Visa General Manager for Oman, Kingdom of Saudi Arabia, Kuwait, and Bahrain said, “With the use of electronic payments accelerating in Oman, it is essential that consumers have the tools to shop safely and securely with their cards. EMV Chip and PIN cards help to protect both the consumer and the merchant by adding an extra layer of security to a transaction while keeping the payment process quick and simple. Visa is delighted to work with OAB to roll-out the technology and to help bring additional peace of mind to its customers.”

Building on a successful legacy established since 1984, OAB today operates more than 65 branches and offices and over 135 ATMs in high footfall locations across the Sultanate. With its growing portfolio of services and banking solutions, OAB has strongly engaged with the local, regional and international community to promote the Sultanate as an economic trade and investment powerhouse.