In the highly competitive landscape of the Middle East’s credit card sector, considerable research and thought has gone into the provision of the Najm Visa card by Majid Al Futtaim Finance, and the company’s customers are already reaping the benefits of its foresight.
“The decision to offer customers a Visa card came down to several key issues – primarily users who wanted a universally accepted credit card option that would give them peace of mind in terms of travel insurance and loss protection, as well as a wealth of benefits such as cash back and significant discounts at our partner brands such as Carrefour,” said Rasool Hujair, CEO of Majid Al Futtaim Finance.
Since the Najm Visa card was launched, Majid Al Futtaim Finance has had the opportunity to quantify the growth in card usage, with analysis showing that retail categories such as electronic and home furnishings have grown by 20 percent. Customers are increasingly using their Najm Visa to pay for travel expenses such as flights, and card use while traveling has also witnessed about a 20 percent growth. Growth in the hospitality and food and beverage sector is also remarkable, with Najm Visa cardholders increasing their card usage in hotels and restaurants.
Customers are also relying on their Najm Visa cards for the benefits that they confer while shopping at outlets such as Carrefour, where users get upto 50% discounts on select products as well as 2% cash back and can access the dedicated ‘Najm’ check-out lanes.
Najm Visa cardholders are also taking advantage of discounts and special offers at partner brands such as Juicy Couture, Magic Planet, and the Kempinski Hotel in Mall of the Emirates, underscoring both the popularity of the new card as well as the confidence that consumers are showing in the credit card sector at present.
Regional and global acceptability are among the reasons that customers have had such a rapid and positive response to the Najm Visa, according to Majid Al Futtaim Finance. “We know that travelers in the Gulf are increasingly exploring new markets, and the Najm Visa is accepted at more than 24 million retailers in over 150 countries worldwide. Our card also provides fraud protection and cover in the case of lost or stolen cards, giving Najm Visa cardholders choice, convenience and control over their finances,” stated Hujair.
In addition to peace of mind with the comprehensive travel insurance and fraud insurance, credit card users are increasingly recognizing the simplicity of working with Najm Visa to manage their card purchases. “We’ve seen considerable uptake of our online payment and finance management tool – eNajm – and customers also appreciate that they can settle their outstanding balance through the Emirates NBD cash deposit machines, UAE Exchange, Al Ansari Exchange, Al Ghurair Exchange and Al Fardan Exchange for ease of payment and in addition, Emirates NBD account holders can make payments from their accounts through internet banking and ATM machines. Supplementary cards for family members are also free – we have tried to make Najm Visa’s terms and conditions incredibly straightforward and beneficial for our users,” Hujair continued.
Given the extremely positive response to the Najm Visa by cardholders in the UAE, Majid Al Futtaim Finance continues to innovate and look for opportunities to reward its users and maintain confidence in the region’s credit card sector going forward.