Emirates NBD and Dynamics partner to introduce UAE's first battery-powered interactive payment card
Dynamics Inc. and Emirates NBD announced plans to introduce the first battery-powered, interactive payment cards to the United Arab Emirates in 2018.
The key Wallet Card offers a number of benefits including rapid data breach response and card replacement; multiple cards in one, allowing consumers to access their debit, credit, pre-paid, multicurrency, one-time use, or loyalty cards on a single card; anywhere distribution such as in bank retail branches, during events or even in-flight, and consumers can activate it immediately. Card information can then be downloaded through a secure, over-the-air cellular connection; tighter connections between consumers, issuers and retailers where a message may be sent to notify the consumer of the purchase and their remaining balance if they used a debit or loyalty card or be notified of a suspicious purchase and click on “not me” to have a fraud alert set and new card number issued.
“Emirates NBD is a visionary bank that has enabled a visionary product with the award-winning Wallet Card. With Wallet Card, Emirates NBD will revolutionise the UAE payment experience to provide the fastest and most secure card services and features in the UAE,” said Jeffrey Mullen, CEO of Dynamics Inc.
The Wallet Card is a full telecommunications platform in the same size and shape as a normal credit or debit card. With almost 200 internal components, the device incorporates several technologies including a cell phone chip and cell phone antenna so data can be transferred between Wallet Card and the bank anywhere in the world and at any time of the day; a battery and organic recharging chip so that the card charges itself through normal operation. Wallet Card can last indefinitely without the need for the consumer to perform any physical action; a card-programmable magnetic stripe, card-programmable EMV chip, and a card-programmable contactless chip. At any time a new card profile can be downloaded to the card so that when that card is selected, the card’s magnetic stripe, EMV, and contactless data is written to the associated components; and a 65,000 pixel display and user interface so that a cardholder can change between different cards and informational screens.
“As part of our commitment to offer an enhanced banking experience through innovation, we are bringing the best card technology in the world to the UAE so our customers can have the best card experience. Our customers will soon be able to download new cards, and receive remote card notifications, directly onto their Emirates NBD Wallet Card. This will provide unprecedented levels of choice, flexibility, and security never offered in the UAE,” said Suvo Sarkar, Senior Executive Vice President & Group Head - Retail Banking & Wealth Management at Emirates NBD.
Emirates NBD Group has also announced plans to introduce Wallet Card in its Kingdom of Saudi Arabia and Egypt markets, with its subsidiary, Emirates Islamic.