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First bank in Kuwait to offer the ‘Visa Transaction Controls’ (VTC) service
Kuwait - 14 December 2020: Burgan Bank, in partnership with Visa, launched their new and exclusive ‘Visa Transaction Controls’ (VTC) service, providing Burgan Bank cardholders a powerful and convenient way for to track and manage all payment activity. Introduced for the first time in Kuwait, customers can now use this service to remotely manage their online transactions through the mobile App or internet banking service.
Accommodating customers with added security and convenience, the digital service empowers cardholders to place their own rules on the respective cards they hold, in order to decide what type of transactions they want to block or to control expenses and purchases with just one click.
All Burgan Bank cardholders are eligible to use this service and can block three types of transactions on the card he/she holds, except for B-Dinar cards. Customers can restrict or block their online transactions on the card including online shopping and phone transactions, as well as control their contact-less transactions, enabling a block on all contactless purchases including NFC and digital wallets (Samsung Pay, Fitbit Pay, Garmin Pay). Additionally, customers can control In-person transactions allowing a block of all in-store purchases at any merchant outlet including transaction done through POS, Digital Wallets ( Samsung Pay, Fitbit Pay, Garmin Pay) and ATM transactions as well.
Mr. Saket Jajoo - Head of Cards at Burgan Bank said: “We are pleased to collaborate with VISA to be the first bank in Kuwait to launch VTC service. We always aim to provide convenience to our customers, and through this innovative digital service, they create controls with effective fraud prevention. And with the digital developments that we witness on a daily basis, we always strive to provide easy and convenient services that enable our customers to manage and monitor their accounts with a high level of security.”
“We are delighted that Burgan Bank is the first bank in Kuwait to offer Visa Transaction Control capability to its cardholders. This will help provide them peace of mind through innovative spending controls and more effective fraud prevention options,” said Mr. Ankush Devadason, Visa Country Manager - Kuwait. “With new digital commerce experiences emerging, it’s important that we facilitate the growth securely by providing easy and convenient ways for consumers to control and monitor how their accounts are used.”
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