New prepaid Visa cards a hassle-free and secure option for online, abroad and everyday purchases
• LoadnShop and MyNetCard are the latest prepaid Visa cards from Majid Al Futtaim Finance
• Convenient , secure and easy-to-use; over-the-counter cards can be electronically topped up with funds and used where Visa is accepted internationally
• Everybody qualifies – no bank account needed and no lengthy application process
• Ideal way to manage finances – avoid debt, transfer funds to family and control spending habits of young shoppers
Dubai, United Arab Emirates, 4 March 2012 – Two new cards on the market are offering UAE residents a simplified way to make purchases & manage finances. The LoadnShop and MyNetCard are the latest prepaid Visa cards from Majid Al Futtaim Finance that can be conveniently bought over the counter, loaded with funds and used immediately without the need for a bank account and lengthy application process. Available to everyone in the UAE regardless of salary or status, these new prepaid Visa cards come with unique security features making it a reliable and flexible choice of payment for online, travel and everyday purchases.
The LoadnShop and MyNetCards are prepaid Visa cards available, across more than 100 convenient, over-the-counter outlets such as petrol stations and foreign exchange houses. The LoadnShop prepaid Visa cards can be ‘loaded’ with funds at the point of purchase and can immediately be used where Visa cards are accepted – over a million locations worldwide and online. It works like a credit card but without interest rates, making it universally appealing to a large number of residents in the UAE who want flexibility and security of payment. Moreover, the LoadnShop is not only reloadable, but it’s an effective way to transfer funds from card holder to card holder, making it a viable, long-term payment and finance management solution.
The MyNetCard prepaid Visa card, is the easiest and safest way to pay online and can be used for popular internet purchases such as gaming, music downloads, booking flights or other travels. Similarly activated on-the-spot by loading money onto the card, the MyNetCard allows everyone to enjoy online shopping opportunities that were previously limited to credit card holders. The MyNetCard and LoadnShop are expected to be widely used as a report published by Visa and Interactive Media in Retail Group International (IMRG) indicates that UAE leads the way in the GCC for online spending with sales close to USD $2 billion (approximately AED 7.34 billion), which equated to 55-60 percent of total GCC e-commerce sales in 2011
“We’re pleased to introduce these prepaid cards to our portfolio of products to empower people who do not see the credit card as a product of choice or unable to get one, while at the same time making internet purchases – which is increasing in popularity, more safe and secure,” said Rasool Hujair, CEO, Majid Al Futtaim Finance. “The LoadnShop and MyNetCard prepaid Visa cards are global cards, designed for the UAE resident.”
The LoadnShop and MyNetCard prepaid Visa cards are equipped with state-of-the-art security features giving users full confidence when making online purchases. Both cards feature a dynamic 3-digit SAFE Code, or Card Verification Value (CVV), making it possible for the cardholder to easily generate a unique and one-time-use SAFE Code for individual purchases. Additionally, for people who like to travel, the user can authorise the use of the card in specific countries, adding in another layer of security for international purchases.
The LoadnShop and MyNetCard’s are available across the UAE at participating locations, including: ENOC, EPPCO, Zoom, Al Fardan Exchange, Al Ghurair Exchange, Micro. MyNetCard is also exclusively available at Carrefour hypermarkets across the UAE.
Additional information can be found at http://www.mafprepaid.com
About Majid Al Futtaim Finance LLC
Majid Al Futtaim Finance LLC is a 100% owned subsidiary of Majid Al Futtaim Ventures. The objective of this venture is to fulfil our vision of becoming the consumer’s credit card and prepaid card of choice. Majid Al Futtaim Finance LLC currently issues VISA and JCB credit cards as well as prepaid Visa cards in the UAE and has plans to expand across the Middle East & North Africa.
For more information, please contact: [email protected] or call: 04 369 3575.