United Bank launches first Visa chip card in Pakistan

Source: Welcome

United Bank Limited (UBL) has chosen XLS software from Welcome Real-time to power its newly launched credit card, the first Visa chip credit card in Pakistan and South Asia.

UBL is one of Pakistan's largest banks with 3.5 million customers and more than 1000 branches. UBL's acquiring partner, RFM Loyalty, uses XLS Server to manage a network of payment terminals, which are equipped with a payment application developed using XLS POS software libraries.

"The move to chip cards is a major event in consumer finance, and banks naturally want to get maximum benefit from their investment," said Aneace Haddad, Welcome's chairman and founder. "Leading banks like UBL are taking advantage of this one-time opportunity to create competitive advantage by offering customers and merchants many rewards and payment options and services besides enhanced security."

"RFM Loyalty is proud to be associated with UBL in this first Visa chip deployment in Pakistan", said Iqbal Mahmood, CEO and founder of RFM Loyalty Limited. "Our goal is to make payment cards far more attractive and exciting, so that recruiting new cardholders and merchants can be done much faster and cheaper than with traditional payment cards."

"The new futuristic chip enabled UBL credit card will offer special exciting features to customers combined with greater security and protection", said M.A. Mannan, Group Executive Consumer and Commercial Banking at UBL. "UBL can now provide its customers with a product based on real value and options to enhance their lifestyle. With the introduction of this product we are truly set to change the cards industry forever."

The new UBL chip credit card will be a payment card embedded with a microchip. The embedded chip will store encrypted customer information and will combine multiple functions and applications for a richer payment experience that surprises and delights customers when they use their UBL card to pay.

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