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Discuss this article (6 Comments)HSBC delays debit cards for customers till year end
by This email address is being protected from spam bots, you need Javascript enabled to view it on Friday, 23 October 2009
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HSBC Bank Middle East has delayed issuing debit cards to its 400,000 customers until the end of the year, it has been reported.
The bank, the only large retail on in the UAE not to offer debit cards, originally told customers they would receive a debit card from September.
But officials told the National on Thursday that the cards would only be issued from the end of this year. The bank declined to comment as to the reasons for the delay, the paper said.
Bank employees are reported to have been using the debit cards since July.
A statement from the bank said it had been “working hard” to provide debit card facilities to its customers in the region.
Thimal Perera, the regional head of direct channels and cards, told the paper: “We started with Qatar and Bahrain and will be extending this to our client base in UAE in this last quarter.
“In the UAE, we are in the pilot stage and have issued cards to our staff, who are currently enjoying this facility and at the same time giving valuable feedback.”
READERS' COMMENTS
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Comparing Saudi to Dubai
Posted by Sama, Dubai, UAE on Wednesday 28 October 2009 at 21:14 UAE time
To the one who compared Saudi to Dubai....its not even worth the comparison. Saudi has been issuing debit cards since late nineties. Btw, Saudi banking system and overall electronic services are light years ahead of Saudi. Dubai is built on pirate rules...
Posted by Sama, Dubai, UAE on Wednesday 28 October 2009 at 21:14 UAE time
To the one who compared Saudi to Dubai....its not even worth the comparison. Saudi has been issuing debit cards since late nineties. Btw, Saudi banking system and overall electronic services are light years ahead of Saudi. Dubai is built on pirate rules...
Debit card delay
Posted by John, Kuwait on Wednesday 28 October 2009 at 07:32 UAE time
Having worked in the industry for many years, I can tell you that the delay is most likely caused by errors on the part of the banks acquiring the debit transactions, such as Mashreq and Emirates NBD. The POS environment in many smaller stores in the UAE in totally unsuited to the deployment of PIN based transactions, with terminals often inaccessible and hidden away on shelves or under counters. With the previous history of ATM fraud in the UAE, HSBC is right to be cautious about rolling out debit cards - I for one won't be rushing them........
Posted by John, Kuwait on Wednesday 28 October 2009 at 07:32 UAE time
Having worked in the industry for many years, I can tell you that the delay is most likely caused by errors on the part of the banks acquiring the debit transactions, such as Mashreq and Emirates NBD. The POS environment in many smaller stores in the UAE in totally unsuited to the deployment of PIN based transactions, with terminals often inaccessible and hidden away on shelves or under counters. With the previous history of ATM fraud in the UAE, HSBC is right to be cautious about rolling out debit cards - I for one won't be rushing them........
Worlds Worst Bank
Posted by Youssef Hassoun, Dubai, U.A.E. on Monday 26 October 2009 at 02:29 UAE time
Lies and lies is all you get from HSBC. They have proven that lately. Min salary to get a credit card from them is AED 20,000 !!! and the same applies for any loan. Its clear they are out of cash. Just pay a visit to one of their branches and you will see how empty they are. Customers have learnt their lesson and are moving out.
Posted by Youssef Hassoun, Dubai, U.A.E. on Monday 26 October 2009 at 02:29 UAE time
Lies and lies is all you get from HSBC. They have proven that lately. Min salary to get a credit card from them is AED 20,000 !!! and the same applies for any loan. Its clear they are out of cash. Just pay a visit to one of their branches and you will see how empty they are. Customers have learnt their lesson and are moving out.
HSBC will lose revenue from credit cards when they introduce debit cards
Posted by Ian, Dubai, UAE on Saturday 24 October 2009 at 09:56 UAE time
I am sure HSBC can give us a hundred and one reasons why this rollout is so late but without doubt, the real reason one of the world's most profitable banks has been very slow to introduce debit cards is that they will lose revenue from their credit card business.
I am a HSBC customer and have wanted to move to another bank for this reason but the unfortunate reality is - the competition in the UAE are probably worse than HSBC! Not really a great recommendation for HSBC in the UAE.
Posted by Ian, Dubai, UAE on Saturday 24 October 2009 at 09:56 UAE time
I am sure HSBC can give us a hundred and one reasons why this rollout is so late but without doubt, the real reason one of the world's most profitable banks has been very slow to introduce debit cards is that they will lose revenue from their credit card business.
I am a HSBC customer and have wanted to move to another bank for this reason but the unfortunate reality is - the competition in the UAE are probably worse than HSBC! Not really a great recommendation for HSBC in the UAE.
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