Gulf Bank issues chip-enabled debit cards in conjunction with MasterCard
Gulf Bank recently started to issue MasterCard debit cards to the Bank’s customers in Kuwait in collaboration with MasterCard Worldwide.
Through the issuance of MasterCard debit cards Gulf Bank will offer its customers the flexibility, convenience, and security they have come to expect when using Gulf Bank payment cards. MasterCard debit cards can be used at 28.4 million locations around the world, including 1.9 million ATMs and other locations where cash may be obtained. The Gulf Bank Debit MasterCard will also feature EMV chip technology.
Chip-enabled cards are payment cards - credit, debit or prepaid - that in addition to the traditional magnetic stripe on the back of the card, also have a chip embedded in it. The card holds information in an encrypted form, significantly enhancing security by making it more tamper-resistant and difficult to access. Using advanced cryptography, the card can authenticate itself as genuine at point of sale terminals. Chip-enabled payment cards will mean improved levels of card and data security, point of sale loyalty rewards and the opportunity for additional point of sale enhancements.
