HSBC has launched a Corporate Card for customers in the United Arab Emirates (UAE), to help customers in managing their travel and entertainment expenses. The Card offers the reach of MasterCard International coupled with Air Miles loyalty program, according to a company press release.
MasterCard International will provide Smart Data Online, the region's first secure internet-based reporting and expense management solution, designed to give customers more information and greater control over their expenditure.
Other features of Corporate Cards from HSBC include up to 53 days interest free credit, a choice of central or individual billing, toll free customer service line, emergency medical and legal assistance, as well as free travel and accident insurance.
HSBC will also offer the first Purchasing Card in the UAE market. The Card, designed to support the needs of companies when buying goods and services in both the traditional and online markets, will help to simplify the purchasing process, improve control of expenditure and reduce costs, according to a company press release.
Alan Jarman, Regional Manager Cards for HSBC Bank Middle East, said “Leading companies are becoming increasingly aware of the benefits of using a card as a payment mechanism. The new Corporate Card from HSBC is a very significant new addition to our Cards business. It contains many prominent features of HSBC corporate cards worldwide, including some extra services reflecting local market needs. We are particularly proud of being the first bank in the region to offer Smart Data Online, an interactive service which we feel will be of huge benefit to our corporate customers.”
HSBC Bank Middle East is the largest international bank in the Middle East, with 31 branches throughout the UAE, Oman, Bahrain, Qatar, Jordan, Lebanon, and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain. This regional coverage is supported by another member of the HSBC Group, HSBC Bank Egypt SAE, and by its associated companies, The Saudi British Bank and British Arab Commercial Bank Limited. In addition to its Middle Eastern network, the Bank has a branch in London, UK and a representative office in Tehran, Iran.
HSBC Bank Middle East is a principal member of the HSBC Group which, with more than 6,500 offices in 78 countries and territories and assets of $692 billion at 30 June 2001, is one of the world's largest banking and financial services organizations.
MasterCard International a widely accepted payment brands including MasterCard, Cirrus and Maestro. More than 1.7 billion MasterCard, Cirrus and Maestro logos are present on credit, charge and debit cards in circulation today. With more than 22 million acceptance locations, the MasterCard association is comprised of more than 20,000 member financial institutions, serving consumers and businesses in 210 countries and territories. At June 30, 2001, gross dollar volume exceeded $458 billion. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
