CBI signs with VISA
Wednesday, December 18, 2013
Commercial Bank International (CBI) has tied up with VISA, a leading payment solutions provider, to offer Visa products to the Bank customers.
Kris Babicci, CBI CEO
Marcello Baricordi, General Manager UAE and Global Accounts Lead at Visa Inc. MENA
The new CBI Visa Platinum Low Rate credit card provides purchasing convenience and benefits at incredible value with an interest rate of just 1.50% per month on retail purchases, cash advances and balance transfers. The simplicity of the interest rate means the card is perfect for customers looking to ease the burden of paying for expensive purchases or consolidating balances from other credit cards with higher rates of interest.
In addition to the value provided by the low interest rate the card comes with all of the attractive features and benefits provided by Visa Platinum which deliver additional value to customers in the areas of travel, shopping, dining and entertainment both here in the UAE and across the globe.
Kris Babicci, Chief Executive Officer at CBI said “We’re very excited to be launching our first credit card with Visa who are globally recognized as a leader in payment technology and security. We are certain that customers in the UAE who are looking to manage their finances more effectively will find real value in the card and be able to save money in comparison to other cards they may hold. This product launch is the start of what we are sure will be a very successful partnership and we look forward to working together with Visa to deliver even greater value to CBI customers in the future.”
Marcello Baricordi, General Manager UAE and Global Accounts Lead at Visa Inc. MENA, said: “We are delighted to partner with CBI to launch the CBI Low Rate Visa Platinum Credit Card, the first premium card in the bank’s portfolio. In addition to its purchasing convenience, the Visa Platinum Credit Card offers exclusive premium travel perks and shopping and lifestyle benefits, which, according to our research, are priorities for affluent cardholders. The Visa card is also equipped with EMV chip and pin technology that offers dynamic authentication values for each transaction, thus increasing security on card usage. We, too, look forward to working closely with our partners at CBI to develop tailored, convenient and secure products and services that satisfy the needs and aspirations of their customers.”
Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 47,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.