Jordan’s International Cards Company (ICC) has inked a deal to issue UnionPay cards next year. This is the first UnionPay card in Jordan.
Qatar’s Doha Bank and China UnionPay inked a deal for the issuance of the first UnionPay card. Doha Bank, holding one-fourth market share, is one of the top merchant acquirers in Qatar.
compareit4me Group, which operates finance comparison websites across the Middle East, has raised $3 million in VC funding.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Abdul Rahman Turki, General Manager of Retail Banking of Bahrain Islamic Bank.
CardTrak.com reports Citi ThankYou Premier and Citi Prestige cardholders can now transfer an unlimited amount of their ThankYou Points to Virgin Atlantic’s Flying Club.
E-Commerce in the Middle East region has grown significantly in recent years, and is prepared for a boom, as internet connections spread and the population becomes more familiar with online shopping. Growth rates of around 20% per year are expected for the next few years.
Spire Payments has acquired the EFT (Electronic Funds Transfer) division of STS. The EFT division of STS was more recently a Master Distributor for Hypercom.
Visa cardholders in the MENA region pick up a new perk: free access to a Bollywood service.
Citi Prestigeand Citi ThankYou Premier cardmembers can now transfer an unlimited amount of ThankYou Points to 11 airline and hotel travel loyalty programs. Citi ThankYou Points Transfer (www.thankyou.com/transfer) lets cardmembers fly to thousands of destinations, and enjoy stays at thousands of hotels and resorts worldwide. Citi ThankYou Rewards members already can redeem their points for travel on any airline with no blackout dates. Citi Prestige cardmembers get the most value for their points when they use them to book flights through the ThankYou Travel Center, particularly when redeeming on American Airlines and US Airways. For example, a $415 ticket on American Airlines and US Airways is just 25,000 ThankYou Points, and would be approximately 31,000 points on other airlines. Citi Prestige and ThankYou Premier cardmembers also enjoy global acceptance with chip technology, no foreign transaction fees and complimentary concierge.
Visa announced a partnership with Borderfree international cross-border ecommerce solutions. Borderfree operates a technology and services platform that allows US retailers to transact with customers in more than 100 countries and territories and more than 60 currencies worldwide. Borderfree’s customer portfolio includes some of the world’s most iconic brands, including Bloomingdale’s, Sears, Macy’s, Gilt, Elie Tahari and Neiman Marcus, among others. Visa’s partnership with Borderfree will commence with an exciting Neiman Marcus promotion which will be rolled out in select markets in the Middle East, including the UAE, Saudi Arabia, Kuwait, Qatar and Bahrain. Visa has partnered with almost 40 banks in the region to exclusively offer cardholders of participating banks duty-free and free international express shipping of goods purchased in excess of US $100 through August 20, 2014.
Visa Inc.and FIFA’s exclusive Financial Services partner for the 2014 FIFA World Cup Brazil, today shared its global FIFA World Cup activation program, which will enhance the sporting experience for millions of fans, clients and partners in 104 countries worldwide. Engaging film and print spots featuring Nobel Peace Laureates, alongside dynamic and interactive social engagement programs, and a seamless in-stadium payment technology experience, enables fans at the tournament, or anywhere in the world, to be part of the FIFA World Cup celebration.
The fastest growing region for MasterCard is getting a new payments processing center and new general multi-country manager. The APMEA region’s Gross Dollar Volume (GDV) for the first quarter 2014 (Q1/14) grew nearly 19% year-on-year (Y/Y).