MasterCard becomes muslim

It became known that Eoncap Islamic Bank of EON Bank dealing with business banking and finance services is going to issue 70,000 Islamic debit MasterCard cards not later than 2009. The new cards are to be issued in Malaysia.

This card is intended for Muslim and non-Muslim people who want to be in the course of their financial operations and keep track of all the transactions. All the payments are made from the cardholder’s account and processed only with positive balance in the account present. The Islamic debit MasterCard was introduced with PayPass contactless payment capabilities.

All new cards are made with EMV (i.e. Europay, MasterCard, Visa) chip and can be used in more than 26 million locations. It was also announced that the Islamic debit MasterCard card can be used at ATMs for electronic banking purposes.