First Contactless Debit Card Hits the Saudi Market


Riyad Bank has started issuing its contactless MasterCard debit card, which is the first-of-its-kind in the Saudi market. This new feature will add unprecedented dimensions of flexibility and protection in the use of Riyad Bank debit cards along with unlimited global acceptance.
Adel Bin Al-Sheikh, EVP of the bank’s retail banking, stated: “The initiative of introducing the new generation of debit cards comes in accordance with the latest electronic payment methods established globally. It emphasizes the leading role of Riyad Bank in developing and providing the latest banking products to enhance its customers’ experience, maintain their uniqueness and meet their banking needs with utmost comfort and protection.”
Khaled Hariri, SVP, head of products and services section, said: “Riyad Bank contactless debit card works with embedded antenna when paying for low value purchases through POS terminals around the world, while merchants across Saudi Arabia will launch this service soon. There is no need to insert the card into the machine or enter PIN, which means that it can replace cash and control fraud and interception risks.”

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