To ensure that its customers benefit from one of the world’s most secure mechanism to prevent card transaction fraud, Burgan Bank has taken the initiative to upgrade the debit and credit cards of all customers to EMV-chip cards, free of charge.
All you have to do is await an SMS from Burgan Bank inviting you to collect your EMV-chip card from your nearest branch.
The sooner you activate the card, the sooner you stand to be eligible for a grand draw where you not only get to win lots of prizes but also the grand prize of a gleaming brand-new BMW 5 series.
What’s more, the more frequently you use your EMV-chip debit or credit card for purchases and other transactions, the higher your chances of winning.
Customers who do not own an account at Burgan can participate by applying for an account with an account with an ATM debit or a credit card during the limited time promotion which will run through the summer.
The greatest benefit that the EMV-chip enabled cards and customer terminals offer Burgan Bank’s customers is heightened security.
Cardholders will be able to authorize their credit card transactions using a PIN code rather than a signature.
Burgan Bank is proud to be the first Bank in Kuwait to offer this successful global technology through a comprehensive card upgrade program, says Simon L Clements, Senior General Manager, Operations Group, Burgan Bank.
“EMV-chip cards offer higher levels of security to our cardholders and merchants. This is especially important given the recent increases in payment card fraud and, in particular, the rapid growth of counterfeit fraud. We are pleased to offer this technology upgrade free of cost to our customers”.
The special prize jamboree will be applicable throughout summer, giving customers the opportunity to make the most from their holiday expenses, he adds.
After spending the first KD 50 on the card, every 5 of spend on any of Burgan Chip Cards will entitle the card holder to addition chances to win the monthly prizes and the grand prize of a BMW 5 series car.
What makes Burgan Bank’s EMV-chip card technology different?
Burgan Bank has successfully achieved EMV compliance for issuing and acquiring Debit and Credit cards for Visa (both debit and credit) and MasterCard (credit only) using internal systems.
Having emerged as the first and only bank in Kuwait to be fully EMV compliant, the Bank has upgraded its KNET, ATM and POS interfaces to support all aspects of chip card issuance and acquiring chip based transactions at its ATMs on behalf of other banks.
Burgan Bank chip cards have been rigorously tested by Visa International and MasterCard for use world wide and work equally well in magnetic stripe ATMs and POS as well as the much more modern chip enabled terminals.
The cards have also been tested by KNET and have been proven successful on GCCNET terminals.
A chip card incorporates an integrated circuit or microchip. When the chip card is inserted into a terminal, it carries out a series of pre-programmed commands, making the chip cards virtually impossible to counterfeit. And, if a card is lost or stolen, the bank can lock the chip.
This significantly reduces the risk of fraud, especially when cards are used in conjunction with PIN numbers.
All EMV-chip cards carry a magnetic stripe, so even those locations which are not capable of accepting chip-based transactions cardholders can continue to use their EMV-chip card.
Further, Burgan Banks chip cards can deliver a range of different payment and banking applications – each of which can be tailored to suit the needs of an individual customer.
Thursday, May 8- 2008 @ 14:39 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.