Lebanon-based Bank Audi sal has become the first bank in the country to implement the Visa payWave technology and issue Visa payWave debit cards to its customers.

 

Visa’s payWave technology is a globally accepted contactless payment technology that ensures a faster, easier and more secure way to pay for everyday purchases, said a statement.

 

The launch of Visa payWave debit cards in Lebanon will contribute to boost the usage rate of debit cards on POS terminals that were used for cash withdrawals on ATMs and will provide customers with a new payment solution turning daily low value transactions into quick payments by a simple tap of the card on a contactless reader. 

 

It is faster than paying with cash and secure because the chip embedded on the card provides high levels of security against fraudulent transactions.

 

Randa Bdeir, group head of e-Payment Solutions and Card Services at Bank Audi, said: “Bank Audi recognises the importance of contactless technology and is pleased to partner with Visa to bring this innovative technology to the Lebanese market. We have built a solid infrastructure in Lebanon by distributing contactless readers to more than 3,000 merchants, especially as regards to payments and small ticket transactions. 

 

“Contactless technology is known for its reliability and security, and customers can expect a seamless experience when they transact at all check-out points. We are confident that the payWave cards will be well received by our growing base of tech-savvy customers.”

 

Ramzi Al Saboury, country manager – Lebanon at Visa, said: “Visa’s payWave technology has been successfully adopted by merchants worldwide and we are delighted to be able to bring this smart and efficient technology to the Lebanese market for the first time through our long-standing partnership with Bank Audi, the largest bank in terms of assets and the one with the most extended network in Lebanon.” - TradeArabia News Service