One of the earliest providers of online banking services in Lebanon has become the first to introduce a unique electronic payment system integrating new technology with its existing mobile platform.
BLOM BANK, which offers Islamic banking services, has partnered with Visa to remove the need for physical debit and credit cards in making payments through its new mobile service, BLOM PAY.
“BLOM PAY is the first service of its kind in Lebanon and stands out by being available through [the] eBLOM app; consequently, the client does not need to install another application,” explained Saad Azhari, the chairman and general manager of BLOM BANK. The bank commands the lion’s share of Visa cards in the country.
The ability to make payments without a physical card is made possible through the Visa Token Service, newly introduced to the Lebanese market, which replaces the account’s personal information with a special digital code – known as token number service – to execute a host of financial transactions, online and offline. The Visa Token Service is new in the Lebanese market.