Mashreq’s SmartSaver gets smarter with cash back on utilities payments in addition to education fees

Press release
Published February 21st, 2013 - 05:32 GMT
Nimish Dwivedi, Head of Payments at Mashreq
Nimish Dwivedi, Head of Payments at Mashreq

Maintaining its leading position in the cards market, Mashreq’s SmartSaver MasterCard Titanium Credit Card is set to provide another first in the UAE benefit by offering genuine savings on yet another high burden expense, utility bill payments.

The enriched offering now includes an incredible 5% cash back on utility bill payments in addition to a whopping 5% cash back on education spends.  Over and above this, customers will continue earning 1.25% cash back on just about all everyday domestic retail purchases on the Card and 3.25% cash back on International retail spends.

Recent research including the MasterCard Purchasing Priorities Survey indicates that customers spend a significant portion of their monthly income on their children’s education and on utility linked expenses.

Nimish Dwivedi, Head of Payments at Mashreq commented, “Our endeavour is to create unique and relevant products which genuinely benefit our customers on an ongoing basis.  Based on this insight we have created for the first time in the UAE a card product that genuinely and simply provides significant savings to customers on all their everyday spending. This is a Smarter solution for customers to keep deriving never before savings out of their normal ordinary spends. “

Mr. Eyad Al-Kourdi, Vice President and Country Manager, UAE, MasterCard said, “Payment solutions that assist in better management of monthly finances while also offering attractive rewards are the perfect fit for a vast section of consumers who allocate specific funds towards monthly utility and education expenses. The Mashreq Bank Smart Saver MasterCard Credit Card is a wonderful product that will indeed prove to be of great benefit to consumers in the UAE, and is yet another example of MasterCard’s capability to develop tailored solutions for diverse consumer needs.”

The Mashreq SmartSaver MasterCard Titanium Credit Card aims to be the best card for everyday spends with never before saving. By simply using this card on daily spends a customer gets 1.25 % Cash Back on all domestic retail spends, 3.25 % on all international retail spends and  5 % Cash Back on all utility and education expenses if the domestic and international retails spends are over 3,000 AED per month. 

Background Information

Mashreq

Mashreq has provided banking and financial services to millions of customers and businesses since 1967.

We are one of UAE's leading financial institutions with a growing retail presence in the region including Egypt, Qatar, Kuwait and Bahrain. We focus on providing our customers access to a wide range of innovative products and services.

Contact Information

Mashreq Bank Building
Omar Bin Al Khatab Street,
Deira Area,
PO Box 1250
Dubai, United Arab Emirates

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Stanislava Burianek
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