Kuwait Finance House has migrated its network of point-of-sale terminals and ATMs to EMV chip-and-PIN technology, an official from the Kuwait City-based bank tells PaymentsSource.
The institution completed the project at the end of May, less than six months after the Central Bank of Kuwait ordered member banks at the beginning of the year to begin adapting all their machines for chip card acceptance, the official says.
The bank supports 99 ATMs and an undisclosed number of payment terminals.
Kuwait Finance “is the first bank to announce that all of its cards and POS machines work according to the smart chip system,” he says. “All [Kuwait Finance] ATM and POS machines are now capable of reading data saved on the smart chip found on various cards.”
Kuwait Finance is the first bank to adapt its complete network to EMV cards, an official from the central bank confirms to PaymentsSource.
“We had issued in 2009 a deadline for all payment cards to be EMV chip-enabled by the beginning of June 2009,” he says. “In January this year, we asked all banks to also complete the migration of their ATM and POS networks to accept EMV technology by the end of this year.”