This step is mainly taken because of digitization of banking industry and Dubai Islamic Bank Pakistan wants to give priority to their customers. They want to invest more in the top payment technologies.
Prepaid Cards Management Solution and TPS’ Enterprise Payment Solution are vital features of the DIB’s policy for digitalization of retail banking. The IRIS middle-ware will result in flexible payments.
Prepaid Cards are launched to reach mass audience. The population who is not receiving banking services will receive them now, thanks to Prepaid Cards. It will also give impetus to Business to Person (B2P) and Government to Person (G2P) payments. Transactions will become easier through ATMs’, POS Machines and e-commerce websites worldwide.
Dubai Islamic Bank Pakistan also plans to launch EMV debit card, this is also part of the inked agreement with TPS. EMV fulfils the criteria of global Payment Card industry and also meets the legal necessities.
Junaid Ahmed, CEO, Dubai Islamic Bank Pakistan stated that we want to give services to customers that are relevant in the current era of technology. This is why we are looking for digital revitalization and have a clear framework for the customers of this digitized world. He also applauded the support of TPS in helping with keeping up with the ever advancing technology.
Shahzad Shahid, CEO, TPS, also expressed his delight over the collaboration with Dubai Islamic Bank Pakistan. He also reiterated on the point that it is essential to keep up with the tech-savvy banking industry. He further said that we are honored that our cutting edge payment solutions will become the main point of difference.