Visa, ATM's official payment card, ties up with hospitality industry majors

The announcement comes against a backdrop of solid increases in international Visa card spend from Middle East cardholders during the peak travel season last year, when for the summer months of June, July and August of 2003, spending at Point of Sale terminals rose 25 per cent over the previous year to reach US$165 million.

Kamran Siddiqi, General Manager Middle East, Visa International, said: "As the best way to pay and 'Official Payment Card' of Arabian Travel Market 2004, Visa has taken this opportunity to partner with some of the world's leading tourism players, Budget Rent a Car, Hilton International, Le Meridien and Ritz Carlton, to offer exclusive benefits for Visa cardholders."

Siddiqi added that Visa's worldwide recognition as the most popular choice of travel currency was further reinforced when Visa was recently voted as "World's Leading Credit Card" for the sixth consecutive year by the prestigious World Travel Awards.

This summer Budget Rent a Car is offering either 25 percent discount on car rental together with a complementary upgrade, or a 35 per cent discount on payment card rental rates. This offer is valid till 15 September.

For hotel stays, Visa cardholders will receive a 10 per cent discount on room rates during the "Hilton for Free" promotion until 30 September, while Le Meridien customers that pay with Visa for two stays of any duration in any worldwide property from 1 July until September, will receive one free night stay in any property of their choice. Additionally, Visa Premium cardholders can enjoy four nights stay at the Ritz Carlton for the price of three nights. This offer commences on 17 June and runs until 31 August in Dubai, Doha, Bahrain, Istanbul and Sharm El Sheikh.

Highlighting the shift in payment methods within the travel industry, Siddiqi explained that traditionally cash and travellers cheques were the most popular travel currencies, however owing to rapid developments in electronic payments, cardholders are increasingly relying on Visa as the most secure and convenient way of paying. These benefits, coupled with the widest acceptance worldwide and preferential exchange rates when making purchases compared to cash withdrawals, have contributed to the growth in international expenditure.

"Whether paying for flights, hotel stay, car rentals, food, souvenirs or even for a small purchase such as a museum ticket, Visa cards are accepted in a wide variety of outlets. Visa cards are also fast becoming an indispensable part of travel. To provide added value to our cardholders, we work with various travel partners to offer special rewards for paying with Visa," Siddiqi added.

Commenting on partner benefits, Siddiqi said that retailers and service providers find accepting Visa electronic payments more efficient than cash as it boosts revenues and profits. This can be attributed to time and cost savings together with a propensity for cardholders to make larger purchases than cash customers due to the wide variety of cardholder loyalty schemes and promotional offers.

Additional travel services provided by Visa include, Visa Global Customer Assistance Service that provides emergency card replacement and cash advances, usually by the end of the next working day, if a card is reported lost or stolen immediately. The service is open 24hours a day, 365 days a year and can be accessed by simply dialling 00-1-410-581-9994 and reversing the charges.

Visa also hosts an innovative, interactive, online travel portal "Visa Destinations," which provides cardholders with exclusive offers and values from a select group of global travel, retail and entertainment merchants. Website can be accessed at www.visadestinations.com.