Emirates Money unveils MasterCard for SMEs

With a 75 per cent cash withdrawal facility of the credit card limit, the card empowers UAE entrepreneurs to streamline their finances and cash flows.



By (Staff Report)

Published: Wed 10 Jun 2015, 11:52 PM

Last updated: Wed 8 Jul 2015, 2:46 PM

Dubai — Emirates Money — a subsidiary of Emirates NBD — and MasterCard jointly launched a credit card on Tuesday targeting specific credit needs of UAE SME and micro SME business owners.

With a 75 per cent cash withdrawal facility of the credit card limit, the card empowers UAE entrepreneurs to streamline their finances and cash flows.

“The introduction of the Emirates Money MasterCard Business Credit Card will add tremendous value to our existing and new customers, as well as aid Emirates Money in offering a competitive range of financial products to its customers,” said Suvo Sarkar, chairman of Emirates Money.

“This offering will position Emirates Money as an end-to-end finance solutions provider for SME entrepreneurs in the UAE, leveraging the existing range of tailor-made solutions to meet all their financing and payment needs. We expect 25 to 30 per cent of our customer base in the UAE to take advantage of this unique offering.”

The venture in the credit card space is in line with Emirates Money’s strategy for market dominance in the SME and Micro SME segments. Since its inception in 2008, Emirates Money has given more than 25,000 loans worth Dh7 billion.

Business owners can enjoy savings though attractive five per cent cash back on local and international purchases, in addition to earning cash back on all spends on government related fee payments, hotels, utility bills and international travel.

The card comes with a unique business protector insurance covering the primary card holder, offering insurance of up to Dh250,000 (in the event of death or permanent total disability of card holder).

This feature also covers the card holder for office utility bills, office rentals and staff salaries. In addition, business owners can also enjoy lifestyle benefits and dining discounts.

business@khaleejtimes.com


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