It was announced in a press conference that UBL is the first bank in Pakistan and South Asia to launch the 'Visa Chip Credit Card'.
Privileged UBL chip credit cardholders will now benefit from many exciting rewards and payment options and services besides enhanced security, protection and convenience.
"After privatisation the Bank has emerged to become one of Pakistan's most dynamic and aggressive financial institutions, which has launched a number of leading consumer financing products. UBL's massive customer base of existing branch customers of 3.5 million and a vast reach of more than 1000 branches all over Pakistan is an advantage," said UBL's President and CEO, Atif Bokhari.
He said: "As the first bank in Pakistan and South Asia to launch an EMV Chip Credit Card, UBL is now set to lead the way in this key area of consumer banking.
"This move is very significant for us as it provides unending opportunities and an enhanced lifestyle to our customers as well.
"This futuristic chip-enabled credit card will offer special exciting features to customers combined with greater security and protection. UBL can now provide its customers with a product based on real value and options to enhance their lifestyle. With the introduction of this product we are truly set to change the Cards industry forever."
Further elaborating on the product, M.A. Mannan, Group Executive Consumer and Commercial Banking, UBL said: "With Pakistan's first Chip Credit Card the consumer can now enjoy complete freedom without the worry and hassle of cash based transactions. It guarantees global acceptability in more than 22 million locations world-wide in 130 countries and in more than 12,000 outlets within Pakistan.
In line with our 'You First Vision', for the first time in Pakistan UBL introduces Chip rewards on its credit card. This way as a privileged UBL Credit Card customer, the user will have the option of exciting instant chip rewards versus traditional point based rewards.
"We are also launching 'RoadMiles' for the first time in Pakistan whereby the more you spend on your card you get free petrol every month. Another first is 'Talk-Time' whereby the more you spend on your card you get free TalkTime/Minutes in addition to a free connection.
"We also have the Low Balance Transfer Rate facility which gives the user the opportunity of paying off balances at only 1.5 percent per month on the same balance.
"The user can withdraw cash through UBL Credit Card's instant cash advance facility from any designated UBL 'Cards Payments' Branch nation-wide, and at more than 700,000 ATMs and financial institutions world-wide, displaying the VISA/PLUS logo."