Amsterdam, April 5, 2016 – Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, has been chosen by National Commercial Bank (NCB) of Saudi Arabia to migrate its entire portfolio of credit cards to fast, convenient and secure contactless EMV cards. NCB, one of the country’s largest banks with more than four million customers, will offer consumers the chance to save time when shopping with speedy transactions, using Gemalto’s proven Clarista contactless EMV cards. The card was customized to meet the Saudi Arabian Monetary Agency (SAMA) specifications and Gemalto was first to achieve that certification for a dual interface card in the kingdom.
Gemalto has a long-standing relationship with NCB and this new contract will place the bank at the forefront of the country’s fast-developing contactless payment market. According to ABI Research, two million contactless cards will be deployed in Saudi Arabia by the end of 2016, with annual growth of 25% through to 2019. The number of contactless POS terminals is predicted to grow at 57% per annum over the same period1.