Dubai First MasterCard credit card launches with 4% cash back

The cards also have the MasterCard PayPass contactless payment feature. By combining the highest cash back incentive and the ease of the "Tap & Go" MasterCard PayPass feature, Dubai First will provide its customers with convenience and unbeatable value on a single piece of plastic.

The new Dubai First MasterCard credit card, which is offered in both Classic and Gold, offers cash back to each cardholder's credit card account. Cardholders can earn up to 4% for every purchase at all merchant locations in the UAE and abroad. The cash back offering is one of the highest in the region and will be a permanent feature of the credit card program, with no time bound and merchant restrictions*.

In addition to the financial benefits offered by the cash back feature, the MasterCard PayPass™ contactless payment feature will empower cardholders to simply "Tap & Go™" when making purchases under AED100 at selected acceptance locations in the UAE. The program offers a fast and convenient payment method for quick and small purchases.

Ibrahim Al Ansari, Country Corporate Officer, Dubai First said, "The introduction of the Dubai First MasterCard credit card with the cash back feature and MasterCard PayPass contactless feature is another remarkable achievement that will position Dubai First as a leader in the mass market segment. Like all of our products, the card program is designed with cardholders' needs in mind, offering the greatest value for money in the market and instant gratification."

Ravi Bhardwaj, Chief Operating Officer, Dubai First added, "The credit card market today demands tangible and quantifiable value from issuing financial institutions. The challenge is to develop propositions that ensure a strong reason to use the Dubai First MasterCard credit card, by delivering exceptional value. This initiative fits with our overall strategy to deliver tailor-made offerings to our customers, across all segments. This new MasterCard differentiates Dubai First as a customer focused, service oriented consumer finance player."

"MasterCard Worldwide has been a pioneer and strong advocate of contactless payment solutions and we have done this through the introduction of our PayPass™ contactless payment feature. To date, there are more than 20 million PayPass cards and devices with over 80,000 merchants accepting PayPass globally," said Eyad Al-Kourdi, country manager, UAE, MasterCard Worldwide. "We are pleased to be working with Dubai First and merchants in the UAE to provide cardholders with the flexibility, convenience and security they have come to expect when making everyday purchases with their MasterCard cards."

Dubai First is on track to achieve its vision to become one of the top five consumer finance players in the UAE within the next three years. The Dubai First Classic and Gold MasterCard credit cards are the third and fourth products that have been launched by the company. Dubai First recently launched the Dubai First 'Royale' MasterCard credit card, the first diamond-embedded MasterCard credit card in the region.

PayPass is a new "contactless" payment feature that provides consumers with a fast and convenient alternative to cash for their small everyday purchases. Consumers simply tap their PayPass™-enabled card or device on a specially equipped merchant terminal, eliminating the need to fumble for cash and coins, hand their card over to a clerk or swipe the card. PayPass also provides better record keeping than cash. The new solution is ideal for quick payment environments where speed is essential.