First smart card debit transaction at National Bank Financial Group
National Bank Financial Group today performed the first debit transaction using smart card technology at an automated banking machine in one of its St‑Jérôme branches. This milestone moment for National Bank was carried out as part of the rollout of the new chip-enabled Client Card in St-Jérôme, Quebec and Kitchener-Waterloo, Ontario.
Beginning in August, National Bank’s new smart Client Card will be in circulation in targeted branches only. The new cards will gradually be issued to the clients of those branches. NBFG estimates that, by January 2009, close to 10,000 clients will be using the microchip technology that has been proven worldwide.
Clients who will be receiving a smart Client Card will be able to carry out debit transactions at points-of-sale and ABMs just as they did before. Like regular Client Cards, these new smart cards will also have a magnetic stripe so that clients will be able to make purchases at any retail outlet, even where smart card technology is not yet available.
When it comes to security and innovation, National Bank Financial Group has always been one of the first to offer its clients efficient, safe and modern payment solutions. In fact, security will be enhanced, as the information stored on the chip is virtually impossible to reproduce.
The smart card can also be used for credit transactions. A chip-enabled credit card will be deployed in the fall of 2008.
A photo is available and can be obtained by contacting the undersigned.
About National Bank of Canada
National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has more than $123 billion in assets and, together with its subsidiaries, employs 17,093 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank’s website at www.nbc.ca.
Information (The telephone number provided below is for the exclusive use of journalists and other media representatives.):
Director, Public Relations Department
National Bank Financial Group