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Secure Transactions News

Qatar first to achieve EMV migration in the region

Thursday 26 April 2007

Qatar Central Bank (QCB) has directed local banks to issue chip-embedded credit cards to customers by September. All points of sale (POS) terminals and nearly all automated teller machines (ATMs) in Qatar are already 100% EMV compliant. With this decision, Qatar will be the first country in the Gulf Cooperation Council (GCC: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates) to complete the EMV migration. Five banks have already started distributing EMV card to their customers, and 20% of the cards issued in Q1/2007 are EMV compliant. In Qatar, an average 40,000 transactions are being done daily using banking cards.