MasterCard creates Islamic debit card
MasterCard Worldwide has partnered with EonCap Islamic Bank to roll out an Islamic debit card that also includes ATM functionality. The card also works on PayPass systems, MasterCard’s contactless payment system.
“It is designed to appeal to both Muslim and non-Muslim individuals who prefer better financial control as the card ensures that purchases are automatically deducted from the cardholder’s account and approved only if enough funds exist within the account. It helps track spending, comes with worldwide acceptance at more than 26 million locations and can be used at an ATM for e-banking,” says an EonCap Bank spokesperson.
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