Pakistani financial organization United Bank Limited has chosen XLS software from Welcome Real-time to power its newly launched credit card, the first Visa chip credit card in Pakistan and South Asia.
The new UBL chip credit card will be a payment card embedded with a microchip. The embedded chip will store encrypted customer information and will combine multiple functions and applications for a more diverse payment service, while also improving card transaction safety.
The move to chip cards is a major event in consumer finance, and banks naturally want to get maximum benefit from their investment, said Aneace Haddad, Welcome’s chairman and founder. Leading banks like UBL are taking advantage of this one-time opportunity to create competitive advantage by offering customers and merchants many rewards and payment options and services besides enhanced security.
United Bank Limited (UBL) is one of Pakistan’s largest banks with 3.5 million customers and more than 1,000 branches. UBL launched the new card, which is accepted in more than 22 million locations world-wide in 130 countries and in more than 12,000 outlets within Pakistan, at the beginning of February.