Etihad launches loyalty card with walletplus by Visa

Source: Etihad Guest website.

Etihad Airways’ loyalty programme, Etihad Guest, has added the walletplus, powered by Visa payment feature onto its Etihad Guest card. Etihad Guest members will be able to load travel money onto their cards and convert it into 11 different foreign currencies to spend abroad.

The membership card can be loaded in advance, enabling card holders to better manage their travel budgets by locking in competitive exchange rates in real time before they travel. Pre-loading the card also means that members are immediately able to spend in the local currency upon arrival in another country, without having to first exchange or transfer funds at a bank or foreign exchange.

A maximum of 11 currencies can be held on the card at any one time, one of which must be UAE dirhams. The 10 other currencies are: US dollar, pound Sterling, Euro, Indian rupee, Australian dollar, Canadian dollar, Singapore dollar, Hong Kong dollar, Japanese yen and Thai baht.

Yasser Al Yousuf, Managing Director, Etihad Guest said: “The Etihad Guest loyalty programme focusses on providing features and benefits that enhance value to its members. The new Etihad Guest Card with walletplus is innovative in that it combines the functionality of a reloadable payment card with the benefits of Etihad Guest membership in a single piece of plastic, a first in loyalty and travel payments in the Middle East.”

Additionally, Etihad Guest members can download the walletplus mobile application, available for iOS and Android users, to access a range of functions that include checking their account balance and transaction history, transfer money to other Etihad Guest members with an activated walletplus account (AED only), and report a card lost/stolen.

Philip King, UAE Head of Retail, Abu Dhabi Islamic Bank (ADIB), said: “This is a highly innovative product and the first of its kind in the region. ADIB is proud to assist Etihad Airways in developing a multi-functional card which vividly demonstrates ADIB’s ground-breaking product development capabilities.

Etihad Guest also partnered with Rêv Worldwide, a global leader in multi-currency prepaid processing, to develop the product, utilising Rêv’s proprietary prepaid multi-currency processing platform and global experience in pioneering similar successful products.

“Well before starting work on this new product, we knew we were dealing with a partner that focuses on delivering excellent value and first class service to its members,” said John Mitchell, Chief Executive Officer, Rêv Worldwide, adding “we have great alignment on the value that innovation provides to further customer engagement.”

Etihad Guest members can earn one Etihad Guest Mile per US$2 spent in the UAE, and one Etihad Guest Mile per US$1 spent abroad when paying with walletplus.

Introduced in partnership with Visa, the Etihad Guest card with walletplus can be used to pay at tens of millions of global merchants, and card holders can withdraw cash at more than 2.1 million ATMs across the world.

Marcello Baricordi, General Manager UAE and Global Accounts Lead at Visa MENA, said: “Visa is delighted to partner with one of the world’s leading premium airline brands – Etihad Airways – to launch here in the Middle East a first of its kind travel card that promises Etihad Guest members the most extensive global reach.

Etihad Guest Tier members in the UAE will begin receiving their new Etihad Guest card with walletplus in early March, with rollout of cards to Etihad Guest members in other countries taking place in the future.

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.

Card not present fraud is growing, two-thirds of APAC credit card issuers vulnerable

As e-commerce grows across Asia Pacific, so does the risk of online fraud. In a survey conducted at a fraud forum hosted by FICO, a predictive analytics and decision management software company, senior heads of fraud from across the region said that card not present* (CNP) fraud is the fastest-rising area. Near all (94%) of attendees reported a rise in CNP fraud.

Research firm eMarketer estimates that B2C e-commerce sales in APAC this year will reach US$525.2 billion, versus US$482.6 billion in North America.

“Regional consumers have become more accepting of non-traditional banking platforms, substituting cash for mobile and online transactions,” said Dan McConaghy, President for FICO in Asia Pacific, who hosted the APAC Fraud Forum in Singapore. “As this shift occurs, we see criminals using social engineering, application fraud, data breaches and more to obtain card details." 

Source: FICO.

FICO provides predictive analytics which uses statistical models to analyse payment data as it happens, so it can detect fraud quickly. Fifteen thousand calculations are completed in milliseconds once a credit or debit card is swiped to detect if fraud has occurred. This solution is being used by some of the largest banks in the region.

“For FICO’s technology, it doesn’t matter whether a transaction occurs online or in a store,” McConaghy said. “That’s the beauty of predictive analytics — it can spot oddities in payment patterns across channels, across cardholders and across networks.”

More than a third of the organisations represented at the Fraud Forum have already started using predictive analytics to combat fraud. That number is on the rise as banks seek to avoid losing money to fraudulent schemes and avoid the potentially greater loss of departing customers.

Recent studies have shown that the poor handling of fraud is a key reason for losing a customer’s trust. A 2013 study by MasterCard found that 40-45% of APAC consumers will change card providers after experiencing fraud.

“Banks understand that consumers have so many choices these days that a badly handled fraud case can cause a customer to stop using its services entirely and move to another bank,” said McConaghy. “You don’t get a second chance these days. Reputations are built on the ability to provide trusted and convenient services while protecting a cardholder’s funds and data.”

*'Card not present' fraud is fraud that occurs when the physical card is not used for a commercial transaction. E-commerce payments typically do not require the physical card, just the numbers on the card.

SMRT JV Hailo Singapore will allow taxi e-receipts

SMRT Road Holdings (SMRT Roads) has announced a joint venture agreement with London-based taxi mobile application developer Hailo Network Holdings (Hailo) to form Hailo Singapore. Under the agreement, a taxi booking application will be introduced to passengers and taxi drivers in Singapore.

Benny Lim, Managing Director of SMRT Roads, said that the new joint venture would provide an enhanced travel experience for passengers. "The integration of Hailo Network's expertise in taxi booking systems and SMRT Road's experience in taxi operations and fleet management offers a seamless taxi booking experience for our passengers and taxi drivers in Singapore," he said.

Ron Zeghibe, Executive Chairman and Co-Founder of Hailo Network, said “Hailo's mission is to make taxis work better for both passengers and drivers all across the world. Founded in 2011, Hailo is a global service with extensive operations in Europe, North America and Asia. By partnering with SMRT Roads, we are combining the best-in-class Hailo app with the resources needed to provide a new level of choice, quality and service for Singapore. Hailo is here for the long term and is excited to be working with SMRT, the leading multi-modal public transport operator in Singapore.”

Targeted for launch in Singapore in October, the Hailo taxi booking application offers passengers an easy way to organise taxi claims. Passengers can register their credit cards with Hailo and receive e-mail receipts at the end of their trips. This shortens the time required for the processing of payment for both the passenger and taxi driver. The app will also allow users to book and track their taxi’s arrival through a real-time display.

Maybank launches Visa Signature credit card in Malaysia

Maybank has introduced the Maybank Visa Signature credit card to Malaysia, and hopes to issue 20,000 of the premium card in the first year. The Maybank Visa Signature card is Malaysia’s first credit card to offer both cash back on a daily basis as well as flexibility to convert bonus points, called Treats, into cash, Maybank said. 

Source: Maybank. From left: Ng Kong Boon; B Ravintharan, Head, Cards Group, Community Financial Services Maybank; Tolan Steele,  Group Country Manager, Visa; Hamirullah Boorhan and Victor Kaw, Head, Cards Malaysia, Maybank.

Maybank Head of Consumer Financial Services Malaysia, Hamirullah Boorhan said that the Bank has identified demand from the high-end mass-affluent customer segment for a card that falls between the platinum and super-premium card range.

“Customers in this segment would typically have an annual income of between RM100,000 – RM180,000,” he said. “They are highly discerning, and value most a cash back feature as well as the option to convert their loyalty points into cash, on top of the usual redemption alternatives of gifts, products and services, vouchers, or airline loyalty miles.

“We believe there is no other product in the market targeted towards such as premium mass affluent segment and offers such high value proposition as well as the flexibility to utilise loyalty points.”

Ng Kong Boon, Visa Country Manager, Malaysia said: “Malaysia’s affluent class continues to grow, creating a need and business opportunity for both Visa and its banking partners to introduce a product that caters to the special requirements and lifestyle of this new segment of affluent consumers.

"Visa is proud to be working with Maybank to drive innovations in payment technology in the country, in line with the Malaysian government’s e-payment vision as laid out in its Economic Transformation Programme."

Added Hamirullah, “The premium card market is one which is still showing strong growth of some 20% in billings annually,” he said. “Premium card holders typically spend an average of eight times more than that of classic cardholders.”

The Maybank Visa Signature comes with rewards such as :

• 5% cash back for their petrol and grocery transactions every day,  capped at RM88 per month 
• 5x Treats points for overseas transactions
• Customers can obtain cash back of RM1 for every 250 points
• Annual fee waiver in the first year. Automatic annual fee waiver is also applicable from the second year onward subject to a pre-set minimum annual spend
• Complimentary The Valet Club parking privileges for the first 12 months
• Unlimited Plaza Premium Lounge access for all lounges in Malaysia

As a launch offer, there wll be a 5% cashback on Visa paywave transactions for six months.