Finance & Capital Market

NCB, Mastercard launch corporate credit card in Saudi

Mastercard, the global technology leader, and the National Commercial Bank (NCB), a leading financial institution in the region, have launched a new corporate credit card for NCB corporate and MSMEs clients in Saudi Arabia.

The Mastercard Corporate World card allows companies to effectively manage their expenses and corporate payments needs. With a focus on convenience, speed and innovation, the card aims to maximize companies' financial control and provide them with full visibility in order to reduce costs and enhance cashflow.

“As a trusted technology leader and proud supporter of the business community, we are delighted to collaborate with NCB to expand inclusion for best-in-class financial control, B2B expenditures and corporate travel benefits. We remain committed to helping businesses by offering innovative tools and payment solutions that enable them to make the most of the digital economy and an ever-strengthening payment ecosystem,” said J K Khalil, Country Manager, KSA, Bahrain & Levant, Mastercard.

Majed Al Ghamdi, Chief Executive Officer, Retail CEO, NCB, said: “We are delighted to once again collaborate with Mastercard for another solution which we believe will provide strong value to businesses by offering the tools to enhance efficiency as well as meet their working capital requirements.

“Through the commercial credit card, our large corporate customers as well as SME clients will be able to make cashless transactions seamlessly and conveniently, while maintaining a stronger control over their cash flows. Furthermore, the initiative will add benefits to our corporate customers such as control of spending and compliance with corporate policies.”

The new corporate credit card delivers a wide range of innovative benefits and product offerings designed for the diverse needs of large corporations. Additionally, the dedicated self-service portal on AlAhli ecorp enables best-in-class relationship management, through which requests are managed. The card also offers consolidated e-statements and spending trends, so that cardholders and management can benefit from simplified reconciliation and enhanced, integrated reporting.

The new credit card features an exclusive host of Priceless offers and rewards, including complimentary airport lounge access in more than 1,000 lounges across 300 cities with LoungeKey. It further includes complimentary travel and accident insurance, cover for medical emergencies, trip cancellations and lost baggage, in addition to other value-added benefits.

Additionally, companies that request an NCB corporate credit card will be able to benefit having their annual fee waived for the first year. The offer is valid until June 30, 2021. – TradeArabia News Service