Riyad Bank launches King­dom’s first con­tact­less pay­ment bracelets

Arab News - - CORPORATE PR -

Riyad Bank, one of the largest fi­nan­cial in­sti­tu­tions in Saudi Ara­bia and a lead­ing bank in the Mid­dle East, has part­nered with Ge­malto, an in­ter­na­tional dig­i­tal se­cu­rity com­pany, for the coun­try’s first-ever range of con­tact­less pay­ment wrist­bands.

Fit­ted with Ge­malto’s proven “Con­tact­less MiniTag,” the bracelets are linked to the user’s ex­ist­ing debit or credit ac­count and of­fer the free­dom to make swift “tap and go” pay­ments with their wear­ables. Along with the bracelets, Riyad Bank has also launched Ge­malto’s con­tact­less sticker that can be fixed to the back of any cell­phone to turn it into a se­cure con­tact­less pay­ment de­vice.

Riyad Bank will be also serv­ing mil­len­ni­als with bracelets that will be linked to pre­paid ac­counts to en­able se­cure cash­less pay­ments at restau­rants and other out­lets across the coun­try.

“The launch of Saudi Ara­bia’s first-ever con­tact­less pay­ment wrist­band is the lat­est ex­am­ple of our com­mit­ment to an en­hanced and dis­tinc­tive cus­tomer ex­pe­ri­ence,” said Riyadh Al-Zahrani, ex­ec­u­tive vice president and head of the re­tail bank­ing di­vi­sion, Riyad Bank. “It also rep­re­sents an­other mile­stone in our col­lab­o­ra­tion with Ge­malto that sup­ports our vi­sion for in­no­va­tion in or­der to bet­ter serve our cus­tomers.”

“Right across the Mid­dle East, a new gen­er­a­tion of con­sumers is look­ing for bank­ing so­lu­tions that can help fa­cil­i­tate their busy, on-the-go lifestyles,” said Nas­sir Ghrous, se­nior vice president bank­ing and pay­ments for CISMEA at Ge­malto. “Riyad Bank has led the way in in­tro­duc­ing Saudi Ara­bia to the ben­e­fits of con­tact­less in­no­va­tions, and the new Ge­malto pay­ment bracelets once again put it at the fore­front of this bank­ing in­no­va­tion.”

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