Following a major deal which will facilitate electronic payments for 790 merchants in the Kingdom, National Bank of Bahrain (NBB) will provide card acceptance services to all outlets of Dragon City Bahrain, an upcoming shopping and wholesale distribution centre at Diyar Al Muharraq, managed and operated by Chinamex.
The agreement will see the installation of NBB point of sale terminals at all tenants’ premises, significantly boosting the bank’s already substantial share of the Bahrain market. Signed by NBB General Manager, Domestic Banking Group, Mr. Abdul Aziz Abdulla Al Ahmed and Chinamex Bahrain Management Company General Manager, Mr. Patrick Zheng Shuo, this deal is significant at a national level due to the scale of Dragon City, a 115,000-square-metre shopping and leisure destination that is expected to have a major positive impact on Bahrain’s economy.
“Alhough NBB is already one of the largest players in this segment, the arrangement with Dragon City is a major association for us due to the sheer number of new businesses expected to be housed at this complex, which is sure to become an important addition to Bahrain’s leisure and tourism infrastructure,” Mr. Al Ahmed said.
“NBB, as Bahrain’s very first local bank which introduced card payment solutions to the Kingdom in 1986, is always ready to support initiatives like Dragon City that help increase international trade, boost the local economy and create jobs,” he added.
NBB has the largest portfolio of credit and debit cards in the country. It offers a range of acquiring technologies, including dial-up and GPRS-based terminals, multi-merchant solutions and around-the-clock service back-up.
“Our agreement with NBB will make payment processing easier for the Chinese companies as well as other tenants which will be setting up shop at Dragon City, many of which will be new to the Kingdom,” said Mr. Shuo.
“Dragon City will literally attract millions of visitors a year, both from within Bahrain and from neighbouring countries. It is important for a project of this scale that all necessary payment facilities are readily available to merchants and customers. We believe we have found the right partner for this in NBB, one of Bahrain’s oldest and most trusted financial institutions,” said Mr. Shuo.
The Dragon City development is a major component of the Diyar Al Muharraq master plan. It is a unique shopping concept and large-scale commodities distribution centre, housing both wholesale and retail businesses. Dragon City will be a permanent showcase for high quality Chinese products and with an expected annual footfall of 3 million visitors, will serve as a key retail, leisure and entertainment centre in the Kingdom.