Malaysian debit card follows Islamic law
EONCAP Islamic Bank, a subsidiary of EON Bank Bhd, has unveiled the first Islamic debit card offering a contactless payment option. The bank plans to issue 70,000 of the cards in Malaysia in the next year.
While the card will be marketed to both Muslim and non-Muslim clients, it is meant to have special appeal to strict followers of Islam. The card follows Syariah principles, and therefore cannot be used in purchases involving alcohol or gambling.
The debit MasterCard is PayPass-enabled and is embedded with an EMV chip. It can be used globally in more than 26 million locations and can also function as an ATM card. ![[end]](/resources/bullet/contactlessnews-4.gif)
