British banking group HSBC is teaming with Visa to launch a contactless debit card in the Middle East.
HSBC Middle East will begin issuing the Visa payWave debit cards in the United Arab Emirates, Qatar, Bahrain, Oman, Egypt, Jordan, Lebanon and Pakistan early next year.
Customers will be able to make low value purchases at the point of sale by waving their cards against specially equipped terminals. The cards will also support loyalty programmes, says Visa.
The move is part of a five year agreement that will see HSBC issue over one million Visa-branded debit cards in the region.
Commenting on the debit card deal, Abdulfattah Sharaf, CEO, personal financial services, HSBC Middle East, says it "offers our customers convenience and flexibility, enabling them to use their cards at the point of sale and at the ATMs".
HSBC and Visa have also agreed an exclusive five year deal on new consumer debit products in Asia Pacific, which will see more than 10 million Visa debit cards issued in Australia, Brunei, India, Indonesia, Malaysia, Mauritius, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.