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The first bank in Jordan, INVESTBANK launches the world’s fastest, most secured, contactless card

Mon, 11/07/2016

INVESTBANK, the leading bank in providing innovative banking solutions, is now the first financial institution in Jordan to introduce contactless cards. The bank proudly announced the launch of Visa contactless signature card last week, the fastest most innovative payment method in the world.

No more waiting for change, entering PIN numbers or waiting for receipts. The dual-chip Visa contactless allows its holders to wave the card in front of a reader installed at specific merchants across the country, and payment is complete. It’s as easy as that.

“Using contactless means that the transaction is secure since the card stays in the client’s hand, nor is there a need to enter a PIN thereby reducing any possibility of theft or fraud, making it the future of payments in the Kingdom,” INVESTBANK CEO Muntaser Dawwas said.

“INVESTBANK aims to always be at the forefront of technology and innovation. Introducing new and easy ways of going about your day to day life in order to make it more convenient and efficient.” Dawwas added.

Commenting on Emerging Markets Payments (EMP) role, Mr. Hassan Mayassi, CEO of EMP said: ‘Nowadays, the E-payments industry is evolving rapidly where new technologies are enabling new products and services. We, at EMP, are proud to lead these exciting developments and support the new contactless signature cards as one of these new innovations,”

“Using the company’s latest technologies, EMP produced the card of the technology Dual interface “contact and contactless”, in addition to enabling the acceptance on EMP terminals across the kingdom.” Added Mr. Mayassi.

Clients will never have to worry about getting billed twice, even if the card is tapped twice by mistake, or forgetting their credit card at the cashpoint because contactless should never leave the client’s hand.

Initially, contactless will have a maximum transaction limit of $25 ( the value of JOD 17), with up to three transactions allowed per day. When the client exceeds the limit or the number of times they used the card they can simply go back to swiping the card just like a normal card at participating merchants, like gas stations, retail stores, or grocery stores.

With merchants around the globe shedding their terminal card readers in favor of contactless, INVSETBANK is thrilled to bring the Jordanian market up to this new international standard. The bank also promises to customize its cards to suit each client’s needs, purchases as quickly and safely as possible starting with the Visa contactless enabled Signature credit card as an initial phase followed by all card levels in the near future.

INVESTBANK is the Kingdom’s leading financial institution when it comes to the cutting-edge technology, especially new methods to help clients transition to cashless transactions.