Press Releases

<p>In qualitative new achievement, Riyad Bank issues its Contactless MasterCard Debit Card which is the first-of-its-kind in the Saudi market. This new feature will add unprecedented dimensions of flexibility and protection in the use of Riyad Bank debit cards along with unlimited global acceptance.</p><p>Adel Bin Al-Sheikh, The Executive Vice President of Retail Banking stated that the initiative of introducing the new generation of debit cards comes in accordance with the latest electronic payment methods established globally. It emphasizes the leading role of Riyad Bank in developing and providing the latest banking products to enhance its customers experience, maintain their uniqueness and meet their banking needs with utmost comfort and protection.</p><p>Khaled Hariri, Senior Vice President Head of Products and Services Section, said: “Riyad Bank Contactless Debit Card works with embedded antenna when paying for low value purchases through POS terminals around the world, while merchants across Saudi Arabia will launch this service soon. There is no need to insert the card into the machine or enter PIN, which means that it can replace cash and control fraud and interception risks.”</p><p>He also added: “The new version of Riyad Bank debit cards, in partnership with MasterCard , are globally accepted at more than 35 million merchants around the world. Contactless Cards will upgrade the quality and efficiency of the service provided and increase the benefits of the cards such as: access to VIP lounges at most airports around the world as well as many other exclusive and exceptional offers.”</p>