MMBL has used the capabilities of TPS's IRIS Payments Platform to issue EMV-compatible Visa Debit Cards that meet changing market needs and changing legal requirements.
The EMV-compatible Debit Cards are issued to customers of core banking and JazzCash for mobile accounts, allowing them to benefit from the speed and security of EMV and reduce fraud. With Visa Debit Card, MMBL customers can easily make purchases anywhere in Pakistan without the need for cash.
With the central IRIS Payments platform, TPS has led EMV implementations from South Asia and the Middle East to Europe and Africa, aligning banks and financial institutions around the world with the global EMV (Europay, MasterCard and Visa) and payment card industry (PCI) standards.
Ghazanfar Azzam, President & CEO of Mobilink Microfinance Bank Limited, said:
Now that the digital payment sector is progressing rapidly, our customers are looking for safer and easier ways to make payments. As a customer-oriented bank, we have decided to roll out EMV-compatible debit cards, making it easier for our customers to execute their payments securely. We look forward to working with TPS to bring faster and safer payment technologies to the market.
Shahzad Shahid, CEO of TPS said,
"We are delighted to be MMBL's technology partner, a leader in financial inclusion that is possible through mobile portfolios." Secure (chip) cards linked to microfinance bank accounts and portfolios , will protect the customer against possible card fraud and will build trust and confidence in digital payment methods. "
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