National Bank of Dubai launches EMV acquiring services
29 July 2005 | 2027 views | 0
Source: Card Tech Limited
National Bank of Dubai (NBD), announces the successful launch of its M/Chip and VSDC acquiring processing facility with the help of Card Tech Limited (CTL), a leading UK-based bankcard systems provider.
This successful implementation, not only secures NBD's leading status as the first M/Chip acquirer in the United Arab Emirates (UAE), but also marks CTL's first M/Chip implementation in the region.
NBD, one of the leading banks in the UAE, is the first among many to complete the EMV certification process for Visa and MasterCard. Having completed the process, the bank can move forward and process live M/Chip transactions using CTL's ONLINE - the world's first complete real-time authorization and message switching system.
Sue Evans, Head of Information Systems & Technology at NBD, said "We are pleased to be one of the first card acquirers in the Gulf to have successfully implemented MasterCard Chip acquiring services, and this is largely due to the substantial support we have received from Card Tech Limited."
CTL and NBD's relationship dates back to the early 1990s. The bank uses CTL solutions to support its cards business. Over the years, CTL's solutions have evolved to support all current and emerging industry standards, and NBD's migration to EMV compliance posed no obstacle.
Edith Kessler-Charalambous, General Manager-Business Account Management at CTL, said "We are delighted to support NBD's implementation of M/Chip acquiring services, helping it to achieve success as one of the first banks in the Gulf and the first bank in the UAE to be M/Chip compliant. CTL benefits from a history of delivering projects within deadlines and we were happy to assist NBD meet theirs."
Abdulfattah Sharaf, Head of Cards Business at NBD, said "NBD has once again proven its position as an innovative player in the UAE Market." He added, "This achievement demonstrates our commitment to our customers to provide a comprehensive product suite based on the latest technologies, and supports NBD's business objectives to provide added value and a world class service to all its clients."