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INTELLIGENT BRANDS // Enterprise Security
National Bank of Kuwait
becomes first bank in MENA
to adopt 3D Secure 2.0
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National Bank of Kuwait
adopts Visa’s 3D Secure 2.0 to
allow seamless authentication
for eCommerce transactions.
N
ational Bank of Kuwait (NBK)
became the first bank in the Middle
East and North Africa (MENA)
region to adopt Visa’s 3D Secure 2.0, which
provides merchants and issuers with a
seamless way to authenticate cardholders
for eCommerce transactions before
authorising them.
An enhancement of the 3D Secure standard
introduced 17 years ago, 3D Secure 2.0
delivers a real-time, secure information
sharing channel that merchants can use
to send an unprecedented number of
transaction details to the issuer. As a result,
the issuer can then authenticate customers
with more accuracy without slowing down
commerce or requesting a fixed password.
The new and improved 3D Secure 2.0
standard adds to the long list of benefits
financial institutions and merchants enjoy as
participants in Visa’s global payment network.
Ali Al-Mulla, Executive Manager, Consumer
Banking Group, National Bank of Kuwait,
said: “At NBK, we prioritise investing in the
customer experience to maintain a high
level of confidence among our consumers
and merchants, whether transacting in
Kuwait or abroad.
“Our aim is to provide customers with fast,
friendly and dedicated services, and Visa is
a key partner in ensuring that our goals are
met without any compromise on security.”
Ankush Devadason, Visa’s Country Manager,
Kuwait, said: “Digital commerce is the fastest
growing area of payments, with connected
devices now functioning as payment
devices. This is one of the many reasons
that it is critical we maintain trust – among
consumers, businesses and governments
– and at the same time deliver quick and
convenient user experience to ensure the
ongoing digitalisation of commerce.
“Collaboration with our partners is key to this
process, and we are excited to be bringing
this new technology to Kuwait – and, in fact,
the wider MENA region – for the first time in
partnership with our partners at NBK.”
A recent Visa survey, launched in partnership
with the Kuwait Banking Association as
part of its Stay Secure campaign, found
that 84% of respondents in Kuwait said
they have started making more online card
payments in the past two years, emphasising
the importance of enhancing the online
payments experience and ensuring its
security in the country.
NBK is committed to providing an
integrated and advanced banking
experience, ensuring it offers products and
services that meet its customers’ day to day
needs and are complemented by safe and
secure payment solutions.
The bank maintains its leading position
in the sector through its digital solutions
that make banking easier and faster while
complying with the highest safety standards.
NBK provides its products and services to
individuals and corporate organisations
through its large network expanding
across the world, including Saudi Arabia,
UAE, Bahrain, Lebanon, Egypt, Jordan,
Iraq, Turkey, as well as major cities such as
London, Paris, Geneva, New York, Singapore
and Shanghai. n
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