In an effort to boost the use of credit cards, the Jordan National Bank has started a new initiative; issuing a mastercard for each subscriber in “ecompany,” an accredited MobileCom distributor. Under the agreement, concluded on Monday, subscribers will get a one-year free of charge mastercard issued by the bank with a ceiling of 200 Jordanian dinars (JD), to be paid in monthly payments of 5 percent of the total dues owed.
“The importance of this package is that it will allow for a larger sector of the society to use a mastercard credit card,” said Jack Kattan, deputy-marketing manager. “Offering this service stems from the company's belief in the financial facilities of mastercard,” said Walid Hadidi, the company's chief of directors. “Thus, we aim to put this service in the hands of MobileCom subscribers in order to enable them to cover their subscription costs as well as other daily-life expenses,” he added at a press conference.
“The agreement is an example of cooperation between the banking and commercial service sectors. It is also in the interest of the public which will benefit from civil services; the use of mobiles and credit cards without pressures on their personal budgets,” said one bank official.
The official, preferring anonymity, noted that despite the large number of credit cards issued in the Kingdom, the actual number of users is small. “We still lack a culture which uses the hidden form of money, rather than the cash. “Now with the offer, even a housewife will be able to get familiar with credit cards, and perhaps use it as a means for payment in the future,” he said. — ( Jordan Times )
By Rana Awwad
© 2000 Mena Report (www.menareport.com)