Mashreq Bank launches Corporate Credit Card

Source: Mashreq Bank. Mashreq launches new corporate card for businesses.

Mashreq, a financial institution in the UAE, has launched a new premium credit card for corporates that can help to streamline business expense management, while offering more benefits to employees.

The new Mashreq Corporate Credit Card caters to the needs of large companies seeking to maximise control, drive savings and increase efficiency while providing attractive benefits to their employees. Companies may use the credit card for consolidating expenses such as municipality fees, hardware or software purchases, utility payments, stationery bills, insurance payments, import duties etc. The card also helps centralise business expenses of employees relating to travel, hotels and business entertainment, among others.

The benefits for employees include unlimited complimentary access to 500+ premium airport lounges worldwide through the LoungeKey Program and free Marhaba lounge access across the Middle East. Employees can also gain access to professional workspaces in 1,825 locations through the MasterCard business lounge programme, powered by Regus at preferred rates. Also, on offer is complimentary travel insurance covering the cost of medical emergencies, trip cancellations, lost baggage and much more, ensuring absolute peace of mind during business travels.

The Mashreq Corporate Credit Card solution also comes with a state-of-the-art web-based reporting tool for expense and information management through the MasterCard smartdata.gen2 platform, helping companies turn their data into business intelligence with access to customisable templates and reports.

The card can be customised with the company’s name, logo or preferred image on the card face. The card can be issued in the name of the employee, company or a department. Companies can also have online control with cardholder limits and will receive SMS alerts when a card reaches 80% of its credit limit. Corporates can also choose one of four statement billing cycles.

Pankaj Kundra, Head of Payments at Mashreq said, “Mashreq Cards are associated with being unique with the most relevant benefits for our cardholders. We have leveraged our strong experience in this domain and are pleased to offer the Mashreq Corporate Credit Card among our wide suite of card products. The card comes with unmatched security features and is also equipped with attractive reward earnings through the Mashreq Salaam Program. While corporates benefit through immense savings, employees will also benefit with access to the various discounts and offers on travel, dining and retail categories through the Mashreq Travel Easy, Flavours and Privileges platforms.”

Eyad Al Kourdi, Senior Vice President and General Manager – UAE, MasterCard commented, “Commercial payment solutions are a key area of focus for MasterCard, and we are excited to collaborate with Mashreq Bank so businesses in the UAE can streamline their purchasing processes to better manage expenses. Through this partnership, corporates can benefit from simple, safe and secure payments and the power of MasterCard smartdata.gen2, all while offering employees the rewards and benefits synonymous with premium credit cards.”

Interested?

Businesses can find out more about the Mashreq Corporate Credit Card by calling +971 4424 4450 or checking online

Mashreq releases v4 of Snapp banking app

Source: Mashreq. From left: iPhone and Apple Watch displaying Snapp screens.

Mashreq, the UAE financial institution, has upgraded the mobile banking app Mashreq Snapp. Snapp v4 can now be accessed using the secure fingerprint login option for iPhone, and can also now sync with the Apple Watch. A new layout is designed for ease of use.

Aref Al Ramli, Head of Electronic Business & Innovation, Mashreq, said: “We took a bold step in animating the application which will provide best in class user experience. Snapp has never been just a standard banking app; the fingerprint access and sync with the Apple Watch are proof of Mashreq’s ability to break boundaries and deliver the best of today’s mobile world to customers. We understand that time is precious and convenience is what everyone seeks, therefore, we have updated our app to offer our customers the most innovated service solutions that can be integrated and accessed with just one touch.”

The authentication process by fingerprint enhances security and makes the login process easier and faster, Mashreq notes, while the sync function for the Apple Watch allows customers to get the latest updates on their account at a glance. Information that can appear on the smartwatch includes Mashreq Card offers, Salaam rewards, locations of the nearest Mashreq branches or ATMs and the latest Mashreq news.

“The fourth and newest version of Snapp boosts a stylish new appearance as well. Brighter, more contrasted colours will help users monitor their finances easily and accurately across accounts, as information becomes more visible to the user,” Al Ramli added.

Interested?

Download the app

Mashreq Bank introduces reward-heavy SmartSaver Visa Platinum credit card

Source: Mashreq Bank website.

UAE’s Mashreq Bank has announced the SmartSaver Visa Platinum credit card, a cashback card that offers savings of up to 10%, with no caps or limits, at over 450 partner outlets across 50 leading brands. There are no spend tiers, no thresholds to be met, no complicated calculations and no annual fees.

According to Mashreq, there is a guaranteed return of 1.25% on all domestic and 2.5% on all international spends.

Nimish Dwivedi, Head of Cards at Mashreq said, "SmartSaver is the next generation cashback card with a market-defining proposition that keeps the consumers interests front and centre. Our exclusive and ever-growing ‘smart savings’ partnerships with over 450 partner outlets including leading brands such as Al Adil, Al Maya, Homes r Us, Kalyan Jewellers, Prime Medical Centre, Kinokuniya, BHS, VLCC and Oman Insurance, give us a unique advantage over competitor offerings.

Source: Mashreq Bank. Dwivedi.

"Add the ‘no-strings attached’ give-back on every domestic and international spend, the bonus savings on high-expense categories like school-fees, telecom and utility payments, dining discounts of up to 40% at over 3,000 restaurants in the UAE and abroad, free travel insurance, discounts on cinema tickets, complimentary purchase protection and extended warranty benefits and you have a card for all seasons that fundamentally transforms the savings universe."

Marcello Baricordi, Visa's General Manager for the UAE & Global Accounts Lead MENA, said: "Visa is pleased to partner with Mashreq to launch an all-encompassing product that gives cardholders incredible savings and rewards. A notable feature of the new Mashreq SmartSaver Visa Platinum Credit Card is the cashback on international spends.

"Besides benefiting from savings on essential purchases, cardholders can also make smart purchases on the go using Visa Checkout – the new simple and speedy solution for online shopping. Overall, the SmartSaver card offers benefits every step of the way and at the same time enjoy the peace of mind of safe and secure transactions with Visa."

Interested?

Apply for the card

Mashreq offers existing customers foreign currency support

Source: Mashreq Bank.

Mashreq in the UAE is offering an instant Foreign Currency Account (FCY) to existing customers, who can open the new account online, at no additional cost and with full transactional capability.

Once open, customers can transfer funds from any existing account to buy foreign currencies like US$, the Euro, British pound and A$ for the FCY-denominated account. It can also be used for inward or outward remittances.

Tooran Asif, Head of Personal Banking, Mashreq said, "We understand our customers’ needs for convenient banking services, and we know the hassle people go through with currency exchange and services. Mashreq is currently the first bank in the UAE to offer the new instant FCY facility to customers. This is yet another showcase that Mashreq is advancing rapidly and we are committed to creating innovative products and services that provide quick and reliable solutions."

Aref Al Ramli, Head of Electronic Business Innovation commented, "We want to provide our customers with the most advanced and secure platforms to carry out their everyday banking transactions. The FCY is aimed to provide customers with instant, efficient and a smooth service and with this service we reflect on Mashreq’s commitment to continue extending its customers with the best banking services and products."

For additional accessibility, select Mashreq branches will allow US$, Euro and British pound balances to be withdrawn.

Mashreq Bank launches Insure+ Saver savings and investment bundle

Source: Mashreq website.

If you are looking for unbeatable interest rates and a new opportunity to invest wisely, Mashreq Bank has introduced Insure+ Saver, a unit linked savings plan and fixed deposit bundle product for Mashreq Gold members. 

Designed for savers, Mashreq Insure+ Saver offers a wide range of underlying funds. Customers can switch funds freely to match their investment goals in accordance to the market movements. The product offers low withdrawal charges, thus making it easy for customers to access their money. The minimum investment requirement is US$25,000 in a fixed deposit along with an equal amount in an insurance savings plan.
The new product bundle underscores Mashreq’s commitment to offer the best products and service to its customers. Tooran Asif, Head of Personal Banking at Mashreq said:  “Mashreq’s new savings and insurance product is the right opportunity for our customers to make a prudent investment decision and to ensure that 2015 will be a financially rewarding year for them. Mashreq Insure+ Saver is the only way to earn the highest interest rate of 4% per annum on savings in the country. No other bank in the whole of the UAE can offer such a return.”

Mashreq Etisalat Visa Signature Credit Card is the UAE’s first “Me-Life” credit card

Source: Mashreq Bank.

UAE-based Mashreq bank has launched the Mashreq Etisalat Visa Signature Credit Card – the UAE’s first “Me-Life” credit card - in partnership with telecommunication operator Etisalat. 

The new card promises that monthly expenditure on Etisalat services such as talk time, data, broadband and direct-to-home subscriptions can be offset through a 5% rewards rebate on all card purchases. Every time customers spend on their card, they effectively knock 5% off their next Etisalat services bill.

The accumulated rewards can be instantly and seamlessly redeemed across the full suite of Etisalat products and services including fixed line and mobile post-paid bill payment, e-life subscriptions, data packages and Wasel prepaid mobile recharges.

Nimish Dwivedi, Head of Payments at Mashreq said, “We live in an age of convergence. To align with the evolving expectations of our customers, the new Mashreq Etisalat Visa Credit Card offers not just the highest talk time per dirham of spend, but a one-stop solution that gives the customer more surf-time, stream-time, game-time, movie-time, leisure time… more 'me-time'. So, whether you are a Etisalat prepaid customer, postpaid subscriber or just someone who loves live-streaming on his smart device, the card has universal appeal, because you can spend as little as AED3,000 per month on everyday purchases and get value in terms of free talk-time and data worth AED150. By offering the fastest route to earning rewards with the most flexible and convenient redemption options, Mashreq and Etisalat have thus defined loyalty propositions forever.”

Khaled Elkhouly, Chief Marketing Officer at Etisalat, said, “The Etisalat Rewards programme is an innovative, generous and an effective way for us to reward our customers and say thank you for their patronage. As the country’s first telecom loyalty program, Etisalat Rewards has come a long way in becoming one of the largest and most rewarding propositions in the region. It is our partnerships with leading brands such as Mashreq Bank that have helped us up the level of our offerings for the Etisalat Rewards member.”

Marcello Baricordi, Visa's General Manager for the UAE & Global Accounts Lead MENA, said: “Visa’s premium cards are designed to offer affluent cardholders great rewards and travel benefits, including complimentary access to around 500 airport lounges worldwide, and the peace of mind of our dedicated Visa Signature Concierge service. We are delighted that Mashreq Bank’s affluent clients will now be able to enjoy a safe, secure and seamless purchasing experience that all Visa products, including Visa Signature, offer.”

Mashreq relaunches SmartSaver credit cards

Mashreq, a major financial institution in the UAE, has re-launched its SmartSaver credit card. SmartSaver, a top cash-back credit card in the UAE, now offers savings of up to 10%, with no caps, with 50 leading brands.

Source: Mashreq.

The card offers returns of 1.25% on every domestic purchase, 3.25% on all international spends, 5% savings on all education, telecom and utility bill payments and no joining or annual fee, Mashreq said.  

Nimish Dwivedi, Head of Cards at Mashreq said, “The typical cash-back card in the UAE is focused largely on specific categories of spends such as supermarkets or education with the actual give-back to customers being subject to multiple ‘ifs’ and ‘buts’ – tiers, thresholds, exclusions etc. With SmartSaver, we’ve done away with the ambiguity and transformed the savings universe. 

"Cardholders, or should I say ‘SmartSavers’, get a ‘no-strings attached’ give-back on every spend, benefit from additional savings in high-expense categories like school fees, telecom and utility spends that tend to strain the household budget and most uniquely, get bonus savings of up to 10% on typical everyday spends at leading brands such as Al Maya, Al Adil, BHS, Mom & Me, Raymond, Park Avenue, Leather Palace, Homes r Us, Fitness First, Prime Medical Centre, VLCC, Kinokuniya, Borders, Al Futtaim Travels, Emax, Oman Insurance and many more.”

Eyad Al Kourdi, UAE Country Head, MasterCard said: “MasterCard is constantly looking for new ways to provide innovative and enhanced payment solutions in the UAE. The Mashreq SmartSaver credit card is what every consumer requires – simple, secure, and hassle free way to save money. We are delighted to once again be offering our customers payment solution options, along with our long-term partner Mashreq Bank.”

SmartSaver cards are accepted at over 450 partner outlets across 15 categories including supermarkets, fashion, apparel, home dcor, health & wellness, travel, hospitality, books & stationery, car rentals, auto accessories, electronics, and jewellery.