Amãna Bank introduces Visa PayWave contactless cards

Wednesday, 17 April 2019 00:00 - - {{hitsCtrl.values.hits}}

Amãna Bank now encourages all its customers to embrace the change of PayWave enabled Visa Debit Cards in order to experience a more secure, fast and convenient payment solution. Customers can now make payments by simply tapping or waving their Debit Cards at the PayWave enabled POS machine instead of the traditional swipe technology.

Commenting on the launch of PayWave to its customers, Amãna Bank’s Vice President – Retail Banking and Marketing Siddeeque Akbar said: “PayWave technology brings in so much convenience and safety to our customers with the ability of having to pay as you go while eliminating the risk of fraudulent transactions as the technology permits the customer to always possess the card when making payments.”

Visa PayWave uses the same EMV chip technology as other Visa chip cards, which comes with multiple layers of security to keep the card safe. Each transaction is accompanied by a one-time code that protects your card information from any unauthorised usage. Visa PayWave uses short-range wireless (Near Field Communication) technology to make secure payments between a contactless card and a contactless-enabled POS terminal.

Amãna Bank is the country’s first and only Licensed Commercial Bank to operate in complete harmony with the globally growing non-interest based participatory banking model. With the mission of Enabling Growth and Enriching Lives, the bank reaches out to its customers through a growing network of branches, Self-Banking Centres and 4,000+ ATM access points and has introduced an array of customer conveniences such as internet and mobile banking, debit card with sms alerts, online account opening, 365 day banking, Saturday banking, extended banking hours, 24x7 cash deposit machines and banking units exclusively for ladies.

Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah based IDB Group being the principal shareholder having a 29.97% stake of the Bank.

The IDB Group is an ‘AAA’ rated multilateral development financial institution with an authorised capital base of over $ 150 billion which has a membership of 57 countries. Fitch Ratings, in June 2018, affirmed Amãna Bank’s National Long Term Rating of BB(lka) while upgrading its outlook to Positive from Stable. Amãna Bank does not have any subsidiaries, associates or affiliated institutions representing the bank.