- Emirates NBD and Visa commit to another term in their partnership to further digital payments and deliver innovation and customer-centric solutions to cardholders
- The partnership agreement includes renewal of Emirates NBD’s credit offering and Visa’s exclusive renewal of Emirates NBD’s debit offering
- Emirates NBD honored with Visa’s Global Quality Service Award for operational excellence and “U by Emaar” card program
Dubai, United Arab Emirates, 07 June 2020: Emirates NBD, a leading bank in the region, and Visa (NYSE: V), the world’s leader in digital payments, today announced the renewal of their partnership with a five-year agreement. Partners since the inception of Emirates NBD, this renewal demonstrates both entities’ ongoing commitment to growing digital payments in the UAE and offering innovative experiences and products that deliver value to the bank’s different customer segments.
As part of the five-year partnership agreement, Visa has secured exclusivity over Emirates NBD’s debit card offering to personal, priority, private and business banking customers, and the debit card programme for Liv. Emirates NBD’s lifestyle digital-only bank. In addition, the two companies have renewed their agreement on existing credit offerings which include premium products such as Visa Infinite Privilege, Visa Infinite and Visa Signature.
Suvo Sarkar, Senior Executive Vice President and Group Head – Retail Banking & Wealth Management, Emirates NBD, said: “As the market leader in payment cards, we are delighted to renew our strategic partnership with Visa, enabling Emirates NBD to continue to deliver unique and innovative payment products. Supported by our long-term collaboration with Visa, Emirates NBD has created payment offerings that are unmatched in value and scale, enhancing our customers’ lives. We are also delighted to continue to receive industry recognition for the Emirates NBD “U by Emaar” Visa credit card, one of our most popular products, that has received widespread customer acceptance and positive feedback since its launch.”
The renewed partnership will see both entities continuing to work together to (i) drive growth of digital payments through data-led solutions, (ii) deliver differentiated products in the market using innovative platforms, (iii) deepen customer engagement with experiential offerings through Visa’s sponsorship assets, and (iv) drive operational efficiencies and cost reduction through Visa’s risk and data solutions.
Shahebaz Khan, UAE General Manager, Visa, commented: “We are delighted to renew our long-standing partnership with Emirates NBD. Over the years, we have closely worked together to develop several exclusive, attractive products and loyalty programs that deliver seamless, secure and rewarding experiences to cardholders on their daily, retail, leisure and travel spend. And what’s more, we make sure that our co-branded offerings continuously evolve to resonate with the bank’s different customer segments and their changing preferences. As we renew our partnership for another five-year term, we remain committed to growing digital payments, bringing more innovative products to market and delivering customer-centric solutions to benefit cardholders.”
Emirates NBD was also honored with Visa’s Global Quality Service Award (GSQA) for its operational excellence and fastest-growing co-brand card program – “U by Emaar”. for the enhanced value and seamless redemption it delivers to cardholders at the point of sales.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce
About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading Bank in the MENAT region. As at 30th September 2019, total assets were AED 675.6 Billion, (equivalent to approx. USD 184 Billion). The acquisition of DenizBank represents a significant milestone for Emirates NBD with the Group expanding its presence to 13 countries, servicing over 14 million customers. The Bank is ranked among the top 20 in the Forbes’ list of the World’s Best Regarded Companies, securing a leading spot among global brands.
The Group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry with 94% of all financial transactions and requests conducted outside of its branches. The Bank announced the creation of E20., a digital business bank for entrepreneurs and SMEs while Liv., the lifestyle digital bank for millennials continued to be the fastest growing retail proposition in the UAE. Emirates NBD was named ‘Best Digital Bank in the Middle East’ at the Euromoney Awards for Excellence in 2019, affirming the Bank’s status as a digital banking leader among its regional peers.
The Group has operations in the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 980 branches and 3964 ATMs / SDMs. The Bank has a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand for 2019. Emirates NBD is a major player in the UAE corporate segment and has strong Islamic banking, investment banking, private banking, asset management, global markets & treasury and brokerage operations.
The Group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. The Bank is recognised for the pioneering efforts in employee volunteering and corporate social responsibility by IMPACT2030, the corporate volunteering arm of the United Nations. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai.
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