Dubai Islamic Bank Rolls Out Innovative ’Visa Paywave’ Technology To Offer Its Cardholders Contactless Payments #Dubai - Dubai City Guide
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Dubai Islamic Bank Rolls Out Innovative ’Visa Paywave’ Technology To Offer Its Cardholders Contactless Payments
(19 October 2015)


Dubai Islamic Bank, DIB, the largest Islamic bank in the UAE, has announced the introduction of Visa payWave cards. Customers can apply for the replacement of their existing cards in order to benefit from this enhanced feature. Designed in line with the latest innovation in contactless payments, Visa payWave technology allows customers to conduct transactions quickly and effortlessly in the minimum time.

The DIB Visa payWave card uses a secure application to approve transactions of low value. This technology eliminates the need for PIN numbers and signatures for purchases below AED300. This innovative technology reduces significantly the average customer queuing time and allows merchants to effectively serve more clients.
Using Visa payWave-enabled cards, customers can simply wave the card against the POS terminal or tap-and-go. Visa payWave ensures enhanced customer experience and faster turnaround by removing the need for the customers to hand over the card.

Each card contains a tiny microchip that sends payment information to a contactless card reader via short-range radio frequency waves. The information does not contain the cardholder's name and includes an encrypted security code that is unique to each transaction.

Speaking about the new service, Sanjay Malhotra, Chief of Consumer Banking, DIB, said "This new facility showcases how merchants, cardholders and financial institutions are increasingly migrating towards a cashless society. We have partnered with Visa to ensure that enrolling in the service is simple, in addition to allowing
customers with existing cards to still benefit from this service upon requesting replacements. At DIB, we continuously strive to cater to customers growing needs and preferences for digital-enabled solutions. Our ongoing partnership with Visa also highlights our sincere dedication to ensuring excellence in customer service and
putting cutting-edge technology at our customers fingertips."

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