Doha Bank, a Qatari private commercial bank, has introduced the first EMV-compliant dream credit card with a built-in loyalty program.
EMV cards incorporate the facilities of Europay, MasterCard and Visa to offer an improved card payment system. The first-of-its-kind Dream card be equipped with the latest smart chip technology for enhanced security and for storage of loyalty and reward points.
The enhanced security feature using the PIN will greatly reduce, if not eradicate, fraudulent card transactions in cases where the cards get lost or stolen, said R Seetharaman, Doha Bank’s deputy CEO. This means that our customers can complete their card transactions or purchases once they key in or enter their PIN code into of the point of sale machine. In addition, the reward points earned by the customers are instantly updated in the embedded chip.
Loyalty points will be accumulated every time a transaction is made with the Dream card, including ATM transactions, and rewards can be claimed instantly.
The new card product can be issued in both Visa and MastCard variants. In addition, the new Dream card is the only free for life card offered in Qatar. The replacement of new cards to the existing credit card holders has already been implemented and any new customer applying for a credit card from the Pakistani-based bank will automatically be issued with a chip and PIN-enabled new Dream credit card.