Mastercard and Qik are now working as a team to revolutionize digital banking in Dominican Republic, En Segundos.do reports. The credit and debit card company and Qik Banco Digital Dominicano, the first neobank in the country, are reaching out to serve the “underbanked” in the country. The leading Dominican financial company, Grupo Popular opened Neobank in November 2022.
Qik customers can apply for the credit card online with no need to have another bank account. Arturo Grullón, general manager of Qik told journalist Jose Peguero of En Segundos.do that the Qik/Mastercard credit card offers immediate categorization of expenses to help users organize their finances. He also noted that Qik returns 1% of all purchases made to the customer, with no limits, and does not charge for issuing the card.
The physical credit card issued to Qik features the innovative Infoless mode, which eliminates numbering and any sensitive information on its surface to make it virtually impossible to clone. Mastercard also highlighted other technologies to ensure transaction security, such as the use of chip on cards and tokenization of online and mobile purchases to further add to users’ security and peace of mind by protecting their credentials.
Arturo Grullón said other features of the Qik/Mastercard protect information and prevent fraud, such as biometric authentication and the use of artificial intelligence in the bank’s security systems.
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Ensegundos.do
20 July 2023