Thales is providing Bank of Kuwait and the Middle East (BKME) with an instant EMV card issuance system that allows banks’ branches to provide customers with a new Chip and PIN card within 10 minutes. The system, which has demonstrated with its partners in the region over the past four years, allows customers to apply for a card and to choose their own PIN number in the branch. Thales says that BKME is now able to provide its customers with a fully personalised EMV card in the branch, reducing the cost of mailing cards and PINs to customers and eliminating the risk of cards being stolen or lost in transit. It is estimated that between 20-30% of mailed credit and debit cards are never activated or rejected, incurring unnecessary costs in terms of materials, production and delivery. The complete system brings together the technology and expertise of Thales, Verisoft, and the local Thales partner Al Nawasi. The system has been rolled out at all 22 BKME branches in Kuwait and works with Thales P3 crypto modules and existing Thales HSMs purchased by the bank.
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