UnionPay signs agreement with DIBP for NFC, EMV card

106

Business Reporter

Karachi

UnionPay International, the Global Leading Payment Network and Dubai Islamic Bank Pakistan (DIBP), Pakistan’s premier banking institution have entered into a historic agreement to issue UnionPay QuickPass (NFC) and EMV Chip Cards in Pakistan. With this initiative, DIBP will become the first Islamic bank in Pakistan to issue UnionPay QuickPass (NFC) enabled cards to its customers that allow the convenience of contactless payments “TAP & GO” while keeping the payments safe and secure.
The partnership was recently signed by Junaid Ahmed, CEO, Dubai Islamic Bank Pakistan Limited and Han Wang, General Manager, UnionPay International Middle East in Shanghai, China, in presence of Shuan Ghaidan, Director of Products, UnionPay International, Syed Zaka Ur Rehman, Head of ADC and Payments, Dubai Islamic Bank Pakistan Limited and Nadeem Haroon, Country Manager Pakistan, UnionPay International.
Speaking on the occasion Shuan Ghaidan, Director of Products, UnionPay International, said, “We are devoted to providing safe, convenient and preferential payment experiences for its global cardholders. So far, 3.4 million UnionPay cards have been issued in the market. 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”.
Expressing his views Mr. Junaid Ahmed, CEO of Dubai Islamic Bank Pakistan, 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”.
“DIBP is constantly striving to enrich and revolutionize its services to cover the maximum targeted remittance concentration areas in Pakistan. UnionPay is a strong partner for us to work with and it is my hope that this partnership will also help to strengthen the payment structures in Pakistan.” Said Zaka ur Rehman, Head of Marketing & Product Development.