Mashreq launches Cashback 2.0 with its SmartSaver VISA Platinum Credit Card

In a world that expects everyday objects and experiences to become increasingly smarter, UAE’s leading financial institution, Mashreq, announced the launch of the SmartSaver Visa Platinum Credit Card, the next generation cash-back card.

Powered by never before ‘Everyday Savings’ benefits, SmartSaver represents the evolution of reward propositions by offering consumers smart savings of up to a whopping 10%, with no caps or limits, at over 450 partner outlets across 50 leading brands in 15 everyday spend categories including Supermarkets, Fashion, Apparel, Home Décor, Health & Wellness, Travel, Hospitality, Books & Stationery, Car Rentals, Auto Accessories, Electronics, Jewellery and many more.

Coupled with its promise of simplicity and transparency - no spend tiers, no thresholds to be met, no complicated calculations and no annual fees – the new Card is a dream come true for the value-conscious consumer who gets to save up to AED 30,000 per annum, from the very first Dirham of spend on the back of a guaranteed give-back of 1.25% on all domestic and 2.5% on all international spends. What’s more, cardholders additionally get a 5% give-back on categories like education, telecom and utility bill payments, allowing them to save big on expenses that typically strain the household budget.

Speaking on the occasion, Nimish Dwivedi, Head of Cards at Mashreq said, “SmartSaver is the next generation cashback card with a market-defining proposition that keeps the consumers interests front and centre. Our exclusive and ever-growing ‘smart savings’ partnerships with over 450 partner outlets including leading brands such as Al Adil, Al Maya, Homes r Us, Kalyan Jewellers, Prime Medical Centre, Kinokuniya, BHS, VLCC and Oman Insurance, give us a unique advantage over competitor offerings. Add the ‘no-strings attached’ give-back on every domestic and international spend, the bonus savings on high-expense categories like school-fees, telecom and utility payments, dining discounts of up to 40% at over 3000 restaurants in the UAE and abroad, free travel insurance, discounts on cinema tickets, complimentary purchase protection and extended warranty benefits and you have a Card for all seasons that fundamentally transforms the savings universe.”

Marcello Baricordi, Visa's General Manager for the UAE & Global Accounts Lead MENA, said: “Visa is pleased to partner with Mashreq to launch an all-encompassing product that gives cardholders incredible savings and rewards. A notable feature of the new Mashreq SmartSaver Visa Platinum Credit Card is the cash back on international spends. With the Visa Global Travel Intentions Study 2015 indicating that 95% of UAE residents plan to travel for leisure over the next year, this product guarantees a rewarding payment solution for travel-savvy consumers. Besides benefiting from savings on essential purchases, cardholders can also make smart purchases on the go using Visa Checkout – the new simple and speedy solution for online shopping. Overall, the SmartSaver card offers benefits every step of the way and at the same time enjoy the peace of mind of safe and secure transactions with Visa.”