Kuwait-based Boubyan Bank said Tuesday that it will soon provide contactless payment cards to its customers through a deal with Oberthur Technologies (OT), a provider of embedded security software products, services and solutions for connection, authentication and payment purposes.
"Contactless payment technology is globally booming and we are glad that a bank as innovative as Boubyan Bank has chosen OT as a partner to introduce it," Muzaffar Khokhar, OT's head of business payment for Russia, the Middle East and Africa at OT, said. "We are confident that it will revolutionize the banking landscape in Kuwait and that Boubyan Bank is paving the way with this technology."
The contactless payment cards will give bank customers a secure, quicker and more convenient shopping experience as all they have to do is wave the card in front of a contactless terminal to complete a transaction.
"As we strive constantly for innovation and technology to drive our strategy and growth, we partnered with OT who are market leaders, to enable us to offer the new contactless technology to our customers and help deliver innovative and customer centric solutions" Boubyan Bank Deputy CEO Abdullah Al Najran Al Tuwaijri said.
The first contactless terminals are expected to be available this year.