QNB is offering a total of 2 Million Qmiles to 10 lucky customers who pay their Kahramaa bills through any QNB ATM, whether they bank with QNB or not. The promotion is open to anyone in Qatar using a debit or credit card issued by any bank to complete Kaharmaa bill payments during the months of July and August. QNB positions itself uniquely for Kaharamma bill payments via its eazylife channels such as eazyinternet, eazymobile and its ATMs where anyone can pay their Kahramma bills. This offer is part of the Bank’s ongoing ‘Use and Win’ campaign which started by encouraging Qtel customers to conduct their Bill Payments and Hala Top Ups at any QNB ATM. The campaign was launched in May and runs until end of September. During July and August, the winners will receive 200,000 Qmiles each for their Kahramaa bill payments at a QNB ATM. The grand draw for the overall campaign will award a Grand Jeep Cherokee to one lucky customer in October.
Travelers from the UAE, Kuwait, Saudi Arabia and Egypt prefer to access local currency through ATMs rather than bringing large amounts of cash from home, withdrawing an average of US$1,531 per overseas trip. This is 42% more than the overall average (US$1,080) from all respondents. These findings, according to the Visa International “Cash Access Study 2010” of eight markets, also shows the main reasons for accessing cash on arrival include convenience (75 percent) was the main consideration, followed by the availability of ATMs and cash access touch-points at destination (50 percent) and safety (48 percent). The most popular payment cards used by travelers from the Middle East for overseas cash access at ATMs are ATM/bank card (64 percent), debit/ salary card (21 percent) and credit card (12 percent).
Kuwait Finance House (KFH) launched a promotion campaign to encourage clients to use KFH’s Master Card in Kuwait and overseas from June 8th to September 3rd. The prizes are 4 trips to various countries, where users will enter a draw in September for every KD 10 purchase they make using Master Card. The winners will be offered a fully paid trip for two people. AGM for Banking Sector at KFH Mohammed Al-Fozan stated that the new campaign coincides with the holidays’ season, and that it aims to encourage clients to use KFH’s ATM and credit Master Cards in making purchases in Kuwait and overseas.
ViVOtech NFC software and systems has won the 2011 Contactless Monkey Award in the category of On High Street, for its NFC project with the National Bank of Kuwait and Kuwait’s Mobile Telecommunications Co., known as Zain, using VISA EMV compliant payment cards, coupons and promotions. ViVOtech’s award winning project for the National Bank of Kuwait introduced a unique prepaid card distribution application that allows consumers to tap their NFC enabled phone on an NFC enabled smart poster in a mall to download a prepaid VISA card in just a minute or two. The Contactless Monkey Awards are presented to companies, organizations and retailers that have done the most to embrace and implement contactless technology into their day-to-day operating practices. The competition was open to all implemented contactless applications within the relevant sectors, regardless of geographic region or size of corporation.
Workers’ Equity Holding (WEH) payroll processor currently handling around 100,000 cards in the region, inked a partnership with Al-Bader Exchange, the leading exchange house in the country, to launch a unique payroll service targeting the UAE’s sizable migrant worker population. The solution enables migrant workers to receive their salaries on special ATM cards, issued by Al-Bader Exchange, and access their cash through a ‘private network’ of ATM machines installed by Workers’ Equity at Al-Bader Exchange Houses across the country. The initial phase allows for cash withdrawals and account balance statements and reports. Over the next few months, more services will be rolled out including automated remittance solutions and mobile top ups.
Kuwait Finance House (KFH) conducted its last monthly draw for its campaign concerning KFH’s banking cards (credit-prepaid-ATM), awarding different clients during February and March KD 20,000 when using their KFH cards. The campaign managed to accomplish its objectives, which are boosting commercial business in the local market, and increase sales through tools offered in the campaign, which was positively reflected in KFH’s banking cards’ market share. The campaign gave KFH card holders the opportunity to win KD 40,000 in awards during the past two months through using their banking cards, where each user who used his card through points of sales machines at stores and shops, had the opportunity to be a winner every month during the draw for every KD 50 purchases or its equivalent in other currencies, and then having 10 clients every month win KD 2000.
Oman Air Web now accepts debit cards, allowing those without credit cards to purchase Oman Air’s ticket on the internet. With this, www.omanair.com accepts debit/prepaid/ATM cards issued with “Visa” or “Master Card” logos, and is a great new convenient, efficient and time saving product. The website is fully secured and card transactions are encrypted for customer’s security. If the customer’s card issuing bank has activated the “Verified by Visa” or “Secured by Master Card” service to secure the online shopping, Oman Air Web supports this additional security feature as well.
Visa has introduced its “Borderlinx” in 12 countries around the world and “SkyBOX” online shopping services in more than 40 countries in Latin America for Visa cardholders. Cardholders in Australia, Bahrain, Canada, China, Kuwait, New Zealand, Oman, Qatar, Russia, Saudi Arabia and UAE can now register with “Borderlinx” for free and enjoy shopping at thousands of online merchants from the U.S. and the U.K. Through “SkyBOX,” Visa cardholders in any Latin American or Caribbean country can also register for free and shop at online U.S. merchants. This gives them fast delivery and “Borderlinx” users get 10% savings in select countries during promotion periods. In Latin America, “SkyBOX” users get a $10 discount on their first shipment on top of free registration.
Mint prepaid card products with Carta have completed the non-brokered private placement of 1,600,000 units to Carta Solutions S.A. for proceeds of $200,000. Each unit consisted of one common share and three-quarters of a common share purchase warrant. This private placement was announced on October 5, 2010. Carta had previously invested $550,000 on July 6, 2010 comprising 4,400,000 units consisting of one common share and a half of a common share purchase warrant. In both placements each whole common share purchase warrant is exercisable for $0.15 until April 30, 2012. In addition, Mint also announced today that it has borrowed $500,000 from Carta Worldwide Inc. for working capital purposes. The loan is repayable in 12 equal monthly installments of principal and interest at 10% per annum. Carta Worldwide Inc. is a subsidiary of Carta Solutions S.A.
MoneyGram International posted 3Q/10 money transfer transaction volume up 9% thanks in part to a 16% growth in non-U.S. sends in the current quarter versus prior year and global agent locations up 11% compared to the year ago period to 207,000. With this, total revenue was down 4% from the year ago period to $292.9 million, but up on the $283.6 million posted in 2Q/10. This was thanks in part to total fee and other revenue having declined 2% to $288.5 million from $294.9 in the year ago period. Money transfer transactions originating outside of the United States increased 16% over the prior year while bill payment transaction volume increased 1%, while fee and other revenue decreased 6 percent to $31.2 million from $33.1 million in 3Q/09. Meanwhile, Net income was $10.0 million and EBITDA was $57.3 million. Influencing this quarterly performance was a long-term sponsorship agreement with the International Cricket Council (ICC), providing MoneyGram a presence at all the major ICC cricket tournaments around the world during 2011-2015; having teamed with Univision to become a reload partner; having renewed a multi-year contract extension with the United Kingdom Post Office (UKPO) to continue providing MoneyGram money transfer services; and a global alliance with Ceridian Stored Value Solutions.
1Q/08: $102.4 million
2Q/08: $143.7 million
3Q/08: $148.8 million
4Q/08: $193.6 million
1Q/09: $160.9 million
2Q/09: $291.2 million
3Q/09: $304.5 million
4Q/09: $296.4 million
1Q/10: $288.9 million
2Q/10: $283.6 million
3Q/10: $292.9 million
Source: CardData (www.carddata.com)
HSBC Amanah opened its first branch dedicated to Shariah compliant products and services in Qatar. Dedicated Islamic banking branch in the MENA region outside of Saudi Arabia, the branch will serve retail and corporate customers. The range of services includes HSBC Amanah Premier, an international Islamic banking service, which is an expansion of HSBC’s market-leading premium banking service HSBC Premier; HSBC Advance, an international current account and banking service proposition, as well as international trade finance and corporate banking services. HSBC Amanah has continued to grow and now has a presence in the Middle East, South East Asia and Europe. It has a significant physical distribution network and a team of dedicated Islamic banking professionals in its global financial centers namely, New York, London, Riyadh, Dubai, Hong Kong, Malaysia and Singapore.
MasterCard Worldwide will work with customer financial institutions and the government to bring more innovation to commercial transactions and payment solutions to Nigerian consumers. Having addressed an audience made up of top officials from Nigeria’s financial sector, MasterCard announced its intention to work closely with governments across Africa to help build the payments infrastructure and facilitate the growth of e-commerce. MasterCard also announced its commitment to the continuous promotion and advancement of electronic payments and the displacement of cash and cheques across the globe. The Asia/Pacific, Middle East & Africa region has been witness to the development and launch of a number of innovative payment solutions from MasterCard, aimed at catering to the diverse needs of consumers.