CAB

Cairo Amman Bank is again unique in launching CAB PAY Application for Mobile Payment

Date: 
Sat, 2020-03-14

 

Amman – Cairo Amman Bank launched CAB PAY Application through mobile (Android) where NFC (Near Field Communication) technology is available, and Cairo Amman Bank is again unique in launching this application as being the first bank in Jordan. This new application has the highest security standards and encryption of private information for all customers of the Bank of cards holders issued of all kinds, it enables registering all their banking cards on the application and making all payment and purchase transactions easily and safely at shops and ATMs provided with Contactless Cards Technology.

The new application is faster than using the ATM Card or Credit Card. On the other side, the application enables card holder to complete payment of purchases up to 50 dinar for one purchase process once the mobile is unlocked and scanned on point of sale device provided with Contactless service. It is indicated that any purchase process exceeding an amount of 50 dinar, it requires from the customer to insert a pass word at the mobile level via the fingerprint reader or the personal identification number or the pass word related to CAB PAY service. Among the advantages of the application which is the latest innovation from Cairo Amman Bank in the banking technology, it enables keeping same card on more than one device, in addition to the possibility of inserting more than one card on the same application. CAB PAY application is also accepted in Jordan and abroad through MasterCard in all stores where points of sale devices using Contactless Technology are made available. CAB PAY Application is characterized as provided with Token Service and Security Technology from MasterCard which makes the card's data including its number which consists of 16 digits replaced with random digital ID known as Token for the protection of the information related to card holders' account and to increase security during the payment process, Token will be used and not the original number of the card so as to have the purchase process completed.

It is worth mentioning that MasterCard always plays a leading role in providing the latest of payment solutions technologies in Jordan and all countries where it operates; it also cooperates with banks to launch innovative banking products and solutions that enable all nationals to make all their financial transactions in an easy, fast and safe way. In Jordan, the cellular penetration rate exceeds 80%, this represents a huge opportunity to use these mobiles to facilitate financial transactions by using the new technologies such as Contactless and Tokenization. MasterCard expects that CAB PAY will contribute to further spread of the electronic payments, achieve the financial inclusion and the digital transformation for the benefit of cards holders and all participants in the banking system. 

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