Headquartered in Dubai, MASHREQBANK is the best bank of the UAE according to EUROMONEY.
Verisoft is contracted to provide the software for EMV card migration for this innovative bank in Dubai, UAE. Verisoft PowerEMV will be driving CIM COMBI 1000 and MF 6000 card personalisation machines to produce VISA VSDC and MASTERCARD MCHIP cards with Welcome Realtime XLS Loyalty software.
eXtended Loyalty System : XLS from WRT is also used by AKBANK for the AXESS product in Turkey is an advanced loyalty solution and in this implementation Verisoft will be merging state of the art EMV payment functions VISA VSDC and MASTERCARD MCHIP into the same card to handle both secure payment transactions while earning bonus points.
Verisoft have taken the challenge of this project to be completed in a short time frame with certification from VISA for EMV and from WRT for XLS.
Verisoft matched this challenge by completing the certification with the prescribed tight deadlines and the bank has been licensed by Visa to become the first issuer in UAE to produce in house its own EMV chip cards.
In the second phase of this project MASTERCARD MCHIP will be certified the same way and this project have also started.
Project includes partners in UK, BELGIUM, DENMARK, GERMANY and FRANCE; and local Verisoft partner in UAE provides in house customer support during implementation and certification phase. A truly multinational standards based software development and qualification project.
It is also one of the first multiapplication chip card project in the world including best of breed components from Visa and Welcome Realtime.