In an exclusive statement to entArabi during the Seamless Conference in Cairo, Sami Nassar, CEO of Golden Chip, discussed the company’s journey and plans to support the financial card industry. Based in the Eastern Province of Saudi Arabia, Golden Chip’s factory was established in 2010 with a production capacity of 30 million cards annually. The factory is accredited by Visa and Mastercard, as well as PCI, and holds ISO certifications and SAS GSMA accreditation.
Technology and Innovations in Card Manufacturing
Nassar confirmed that the PCI certification allows the company to manufacture cards bearing the Visa or Mastercard logos, in addition to programming the cards. He mentioned that cardholders with electronic wallets can use these cards for digital transactions.
The company customizes cards according to banks’ requirements, both in terms of design and programming. Banks send unrecognized data files, which are converted into recognizable data through specialized software. The cards are then packaged and delivered to customers via shipping companies, allowing users to activate and use their cards smoothly.
The Saudi Market Overview
Nassar explained that Saudi Arabia consumes approximately 37 million cards annually, including 28 million debit cards and about 7 million credit cards. Golden Chip covers around 50% of the cards used in the kingdom, with major clients including Al Rajhi Bank and the National Commercial Bank.
Expansion and Innovation
Nassar also shared that the company is working on developing new payment applications using digital rings and watches. However, these innovations are still awaiting approval from the Saudi Central Bank before they can be launched in the market.
He concluded the interview with entArabi by expressing the company’s goal to introduce itself to the Egyptian market through the Seamless conference, hoping to secure a strong presence and market share in Egypt shortly.
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