Emirates NBD and Visa commit to a 5-year partnership agreement

UAE’s Emirates NBD and digital payments facilitator Visa renewed their partnership with a five-year agreement to commit to the culture of growing digital payments in the UAE.

The renewed collaboration will see both entities cohesively working to foster growth of digital payments through data-led solutions; deliver differentiated product using innovative platforms; deepen customer engagement with offerings through Visa’s sponsorship assets, and drive operational efficiencies and cost reduction.

Visa has secured exclusivity over Emirates NBD’s debit card for personal, priority, private and business banking customers, and the debit card programme for Liv., Emirates NBD’s lifestyle digital-only bank.

The two companies have also renewed their agreement on existing credit offerings that include products such as Visa Infinite Privilege, Visa Infinite and Visa Signature. As of September 30 2019, total assets of the bank stood at Dhs675.6bn.

Suvo Sarkar, senior executive vice president and group head – Retail Banking and Wealth Management, Emirates NBD, said: “As the market leader in payment cards, we are delighted to renew our strategic partnership with Visa, enabling Emirates NBD to continue to deliver unique and innovative payment products. Supported by our long-term collaboration with Visa, Emirates NBD has created payment offerings that are unmatched in value and scale, enhancing our customers’ lives. We are also delighted to continue to receive industry recognition for the Emirates NBD “U by Emaar” Visa credit card, one of our most popular products, that has received widespread customer acceptance and positive feedback since its launch.”

Shahebaz Khan, UAE general manager, Visa, commented: “We are delighted to renew our long-standing partnership with Emirates NBD. Over the years, we have closely worked together to develop several exclusive, attractive products and loyalty programmes that deliver seamless, secure and rewarding experiences to cardholders on their daily, retail, leisure and travel spend. And what’s more, we make sure that our co-branded offerings continuously evolve to resonate with the bank’s different customer segments and their changing preferences. As we renew our partnership for another five-year term, we remain committed to growing digital payments, bringing more innovative products to market and delivering customer-centric solutions to benefit cardholders.”