Samsung and Mashreqbank launch co-branded credit card

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

"This is the first time a global leader in digital technology and a leading UAE bank have joined forces to offer a unique loyalty program of this magnitude," said Mr. D. K. Byeon, President, Samsung Gulf Electronics. "Today's consumers want more from their loyalty programmes, and as such, the Samsung Mashreqbank Credit Card offers the type of premium rewards that they rightly expect. Just by making regular purchases, consumers can now earn additional Samsung Mashreqbank reward points including Samsung's cutting-edge digital products. In addition to this, with every purchase of a Samsung product across GCC, consumers will have an opportunity to double the points earned," Mr. Byeon added.

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 can purchase Samsung's digital products through interest-free payment options, in addition to obtaining an extended six-month warranty on all Samsung products. Also, as an introductory offer, Samsung and Mashreqbank are offering early subscribers 25,000 bonus points that can be redeemed to obtain Samsung's cutting-edge VCD player or microwave oven worth up to AED 300/-. Alternatively cardholders can opt to retain these bonus points to accelerate the accumulation of rewards 'points' and redeem it against premium Samsung products.

Samsung and Mashreqbank intend to continuously upgrade the programme with exclusive value-added promotions and rewards.

"Today's launch provides one more component to our mission to add value to our customers, and introduce our innovative services to more cardholders," said Mr. Steven Pinto, Senior Vice President and Head of Retail Banking Group, Mashreqbank.

"Samsung's proven experience in designing valuable marketing programs and its strong commitment to customers made it the desired choice for us. We're confident that the Samsung Mashreqbank Credit Card will provide our loyal customers with a quick and easy way to earn unique rewards, coupled with the same high level of efficiency that customers equate with the two companies," Mr. Pinto added.

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