Dubai, 11 March 2018 - Riyad Bank is one of the largest financial institutions in Saudi Arabia and a leading bank in the Middle East. Now, with Gemalto, a world leader in digital security, Riyad Bank, is launching 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 which can be fixed to the back of any cell phone to turn it into a secure contactless payment device.
Reflecting the strong appeal of innovative contactless form factors among younger customers, 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 Head of Retail Banking Division, for 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 & Payments for CISMEA at Gemalto. "Riyad Bank has led the way in introducing Saudi Arabia to the benefits of contactless, and the new Gemalto payment bracelets once again put it at the forefront of this banking innovation."
Gemalto (Euronext NL0000400653 GTO) is the global leader in
digital security, with 2017 annual revenues of €3 billion and customers in over 180 countries. We bring trust to an increasingly connected world.
From secure software to biometrics and encryption, our technologies and services enable businesses and governments to authenticate identities and protect data so they stay safe and enable services in personal devices, connected objects, the cloud and in between.
Gemalto’s solutions are at the heart of modern life, from payment to enterprise security and the internet of things. We authenticate people, transactions and objects, encrypt data and create value for software – enabling our clients to deliver secure digital services for billions of individuals and things.
Our 15,000 employees operate out of 114 offices, 40 personalization and data centers, and 35 research and software development centers located in 47 countries.
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