13 August, 2007
category: Contactless, Financial
Abu Dhabi Commercial Bank (ADCB) has launched its ADCB Flash MasterCard Credit Card with MasterCard® PayPass™. This credit card is reported as the first of its kind as the first contactless credit card in the United Arab Emirates. The card can double as a standard mag-stripe credit card as the bank and MasterCard ad merchants to their contactless infrastructure.
ADCB Supported By MasterCard Launch First Credit Card With MasterCard® PayPass™ Contactless Technology In The UAE
ADCB Flash MasterCard Credit Card With MasterCard® PayPass™ Offers Fast, Convenient, Secure Alternative To Cash
Abu Dhabi Commercial Bank (ADCB) today announced the launch of its ADCB Flash MasterCard Credit Card with MasterCard® PayPass™, launched in association with MasterCard Worldwide. Using the latest technology in contactless payments brought to the region by MasterCard; the ADCB Flash MasterCard Credit Card with PayPass is the first of its kind in the GCC and offers cardholders the latest innovation in payment solutions.
The ADCB Flash MasterCard Credit Card with MasterCard PayPass can be used at selected acceptance locations in the UAE, offering a fast and convenient payment method for small purchases. Consumers benefit from a secure, fast and convenient alternative to cash for their everyday small purchases. Customers will discover queues are shorter, making fast food even faster at Burger King, shopping at Choithram will be quicker, and coffee breaks can be maximized at Cinnabon. Several other shopping and entertainment locations across the UAE also accept the ADCB Flash MasterCard Credit Card with PayPass.
As well as having the usual credit card functionality, the MasterCard PayPass technology allows cardholders to simply “Tap & Go” for purchases under AED100. For transaction amounts over AED100, purchases are made in the standard way as for all credit cards and a signature may be required. Aimed at redefining the way to pay for low value purchases across the globe, cards can be tapped against the PayPass reader positioned at point of sale locations to complete transactions, eliminating the need to swipe or sign and thus making transactions with PayPass cards significantly faster than with other payment cards. The PayPass technology also provides the cardholder with extra comfort as the card remains with the cardholder at all times. The new card also has the extra security of being a MasterCard OneSmart card, complete with Chip technology that makes it difficult to counterfeit. Retailers benefit from the speed and efficiency of this contactless card as well as better record keeping when compared to accepting cash.
“At ADCB we acknowledge that our customers are partners and we strive to provide solutions to their needs. As such, ADCB has positioned itself as a flexible facilitator that allows the customer to dictate what they want at any point in time in terms of the products and the level of support,” said Arup Mukhopadhyay, Head of Retail Banking, ADCB. He continued, “ADCB Flash MasterCard Credit Card with PayPass is one such innovative product in line with ADCB’s mission to be the most innovative bank using technology for improving our business and providing our customers with nothing short of the best solutions. ADCB will begin issuing the cards in a phased manner to our customer base.”
“MasterCard has been the industry innovator in contactless payments for many years and leads the way with the MasterCard PayPass program. We are delighted to have worked with ADCB to bring PayPass to the UAE. We understand at MasterCard that results are best delivered locally through the development of customized business solutions that leverage the MasterCard network and we are confident that cardholders will enjoy the ease and convenience of PayPass. MasterCard continues to bring to the Middle East region its global technology and expertise, creating more advanced methods of payment that fuel economic connections and drive real business value,” said Eyad Al-Kourdi, Vice President & Country Manager UAE, Middle East & Levant, MasterCard Worldwide.
Retailers displaying the MasterCard PayPass logo accept PayPass transactions. As of second quarter 2007, there are over 16 million PayPass cards issued and devices in use at more than 55,000 merchant locations worldwide. PayPass related projects are presently underway in Australia, Canada, France, Indonesia, Italy, Japan, Korea, Lebanon, Malaysia, the Philippines, Switzerland, Taiwan, Thailand, Turkey, United Kingdom and the United States. PayPass is an ideal payment solution where speed is an essential element to transactions. Merchant locations such as drug stores, movie theatres, petrol stations, quick service restaurants, sports arenas and more transit environments are expected to embrace PayPass. The ADCB Flash MasterCard Credit Card with PayPass is also accepted normally at 25 million acceptance locations worldwide. Currently, the ADCB Flash MasterCard Credit Card with MasterCard PayPass can be used at selected retailers across the UAE that include: Burger King; Choithram; Cinnabon; Gopala’s; Joga Juice; La Piazza; Scoozi; Union Co-op and Zaatar W Zeit.
