The BI-ME eNewsletter
LOGIN:
HSBC launches first Visa payWave contactless payment card in Middle East
Source: BI-ME , Author: Justin Smith
Posted: Fri November 7, 2008 12:00 am
www alibaba.com
Meet worldwide manufacturers, wholesalers
& importers
in Alibaba now!

INTERNATIONAL. HSBC and Visa recently announced that the companies have expanded their global relationship to include the launch of the first debit Visa payWave contactless payment programmes in the Middle East.

The regional agreement represents an expansion of HSBC’s current credit card issuing relationship with Visa, and is a another milestone in Visa’s efforts to combine the company’s global brand and payments expertise with strong local marketplace knowledge and execution to help clients grow their business.

The new cards will be available to all HSBC customers in eight countries including UAE, Qatar, Bahrain, Oman, Egypt, Jordan, Lebanon and Pakistan.

The card will feature an EMV contact chip as well contactless payment technology for fast transactions at merchant locations where speed and security are critical, such as quick service restaurants, and convenience stores. The Visa payWave debit cards will also be able to support services such as loyalty programs for cardholders, bringing more convenience and added value to debit transactions.

“The introduction of a region-wide HSBC Visa debit chip card is further evidence of HSBC’s commitment to delivering innovative products to market and enhancing customers’ banking experience. We are delighted to launch a product in association with Visa that offers our customers convenience and flexibility, enabling them to use their cards at the point of sale and ATM,” said Abdulfattah Sharaf, CEO Personal Financial Services, HSBC Middle East.

“This deal expands the relationship between two global leaders – HSBC and Visa – in some of the fastest growing areas in the world,” said Hans Morris, President, Visa.

“We are delighted by HSBC’s decision to enhance our partnership and extend Visa’s debit products to new and existing customers across multiple geographies. Importantly, this agreement delivers on our strategy to expand Visa’s global debit leadership, as we seek to further the migration from cash and check to Visa payments.”

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: February 9, 2010
UAE. Location and quality are driving apartment prices; while average prices decreased, select communities, including Palm Jumeirah and Downtown Burj Dubai, experienced slight increases according to Landmark Advisory's latest quarterly report.
date:Posted: February 8, 2010
INTERNATIONAL. Trying to achieve financial goals by pouring all of one's assets into emerging markets today, telecommunications tomorrow, and Japanese small-cap stocks next week is not a guarantee for achieving a sound financial plan.
date:Posted: February 8, 2010
INTERNATIONAL. The latest survey shows 46% of respondents expect their business travel to increase, marking a rise by 22 points compared with figures of the same period in 2009.
UAE. Location and quality are driving apartment prices; while average prices decreased, select communities, including Palm Jumeirah and Downtown Burj Dubai, experienced slight increases according to Landmark Advisory's latest quarterly report.