Samsung and Mashreqbank join forces to create unique credit card loyalty programme

The Samsung Mashreqbank Credit Card is primarily targeted at customers with an affinity towards the two companies' premium products and services, and aims to transform cardholder purchases into unique rewards and benefits, in addition to offering all the privileges of a standard Mashreqbank credit card.

Speaking at the launch press conference, Mr. D. K. Byeon, Managing Director, Samsung Gulf Electronics said: "The launch of the Samsung Mashreqbank Credit Card is a milestone in the history of Samsung, as it is the first time the company is partnering with a leading bank to offer a co-branded credit card anywhere in the world. Through this unique loyalty programme initiative, Samsung aims to help fulfil the digital aspirations of its customers, while at the same time setting a benchmark in effective Customer Relationship Management."

The co-branded card is being introduced as part of Samsung's Customer Relationship Management (CRM) initiative, which has been designed to ensure that the company gains a better understanding of its customers and subsequently offer enhanced levels of benefits and services to them.

"Mashreqbank's leadership status and innovative approach made it the perfect partner for Samsung's loyalty programme initiative," added Mr. Byeon.

Mashreqbank operates over 33 branches throughout the UAE and two in Qatar, in addition to being the leading acquirer of merchant point-of-sale (POS) transactions in the region.

"Samsung's reputation for customer service and innovation is unparalleled," said Mr. Steven Pinto, Senior Vice President and Head of Retail Banking Group, Mashreqbank. "We are delighted to be associated with Samsung to offer a flexible and unique co-branded card that provides such tremendous value to customers. This relationship promises to redefine the value of credit card co-branding and is perfectly aligned with our commitment to provide superior value to our customers. Consumers appreciate this, which is why a third of all new credit cards in the UAE are issued by Mashreqbank."

Supported by Mashreqbank's strong brand presence in the region, the card comes with a unique benefits and rewards programme and wide acceptance across the globe. One of the key features of the card is that cardholders will be able to accelerate the accumulation of rewards 'points' through the specific purchase of Samsung's electronic products. Furthermore, Samsung and Mashreqbank intend to continuously upgrade the programme with new value-added rewards, which will provide consumers with unparalleled redemption flexibility.

"There is no consumer electronics company in the region which is more committed to keeping pace with consumer preferences than Samsung and no loyalty programme better able to reward them than the Samsung Mashreqbank Credit Card," said Mr. Taeho Roh, General Manager, Samsung Gulf Electronics. "Today's consumers want more from their loyalty programmes, and as such, this card offers the type of premium rewards that they rightly expect. Just by making regular purchases, consumers can now earn high quality rewards from Samsung's extensive range of cutting-edge digital products."