Riyad Bank, one of Saudi Arabia’s top financial institutions, is migrating its entire portfolio to Gemalto’s Clarista Contactless EMV card, powered with the industry-standard MULTOS operating system. This is the country’s first contactless payment method.
The introduction of contactless cards puts Riyad Bank at the forefront of one of the most powerful trends currently shaping the consumer environment in Saudi Arabia, where the contactless infrastructure is being established. The latest report from ABI Research predicts there will be 100,000 contactless payment terminals across Saudi Arabia by the end of 2015, rising to 500,000 by 2019.
Riyad Bank achieved SAMA certification recently and Gemalto was first to offer a dual interface card that meets this requirement.
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