AMMAN, August 2016: Bank of Jordan (BoJ) became the first Jordan-based bank to implement the Visa Risk Manger (VRM) system, with many features to satisfy customers. VRM reduces risk exposure and enables the bank to dynamically track and respond to suspected fraud transactions on Visa cards.
BoJ Executive Manager for Retail Banking, Khaled Abu Jwaid, said: “The implementation of the VRM system is in line with the Bank’s strategy of keeping up with latest technologies to develop the e-payment system and enhance banking security. This helps the Bank to provide customers with risk-free financial services, encouraging them to increase their credit card transactions through various e-commerce payment channels.”
For his part, Visa International Levant General Manager, Nabil Tabbara, said: “We are very delightful that BoJ launched this system, which will enhance customer trust and confidence, providing them with more secured transactions. The system was designed in line with state of-the art technologies to monitor all fraud transactions related to the e-payment system, provide data, track, and fight e-crimes.”
He added: “We are constantly seeking to develop more system in this kind, ensuring risk-free e-payment system. We hope that the VVA VRM application would encourage the financial services sector to continue to upgrade and develop its risk management to guarantee a more secure future for e- payments.”