From left to right: Mazen Sater - assistant general manager and head of retail banking BMI Bank, Jamal Al-Hazeem - CEO BMI Bank, Somu Roy - Market Manager — Bahrain MasterCard, and Rana AlMuaili - general manager Sinnad
BMI BANK
A New Approach In collaboration with MasterCard, this Bahraini retail and commercial banking institution has launched two new prepaid cards for its customers on the island.
www.bahrainthismonth.com
Available to both existing and new customers across BMI Bank’s retail branch network within the country, a generic multipurpose prepaid card and an Internet prepaid card have been designed in partnership with MasterCard. The multipurpose prepaid card can be used for purchases both locally and internationally on point of sale machines, to pay utility bills online as well as to withdraw cash from ATMs which feature the MasterCard logo. The Internet prepaid card is designed specifically for online purchases, offering customers added safety and security. Intended to meet customers’ unique requirements, these can be topped up at the bank’s branches or by depositing cash at the bank’s special cash deposit ATMs. Customers will be able to utilise the bank’s award-winning e-banking and phone banking channels. “We are pleased to partner MasterCard, a global financial services brand, to launch this avant garde suite of cards, which is a considerable leap forward and a key milestone in our efforts to bring world-class products and services to our customers,” says Jamal Al-Hazeem, chief executive officer of BMI Bank. “The reloadable cards are an extremely versatile payment tool and provide our customers with the benefit of cashless transactions with an easy-to-use, transparent, safe, secure and widely accepted product.” BMI Bank is committed to develop products and services that help consumers take their first step towards a smarter and convenient way to spend and manage money. The prepaid card system promotes a cashless environment, offering a financial freedom that everyone aspires to. “Developing customised prepaid solutions is one of our key strengths and we are excited about our engagement with BMI Bank as consumers across Bahrain will now have yet another
opportunity to experience our innovative payment solutions,” says Somu Roy, market manage r— Bahrain, MasterCard. This collaboration is an example of the companies’ capabilities to work with industry leaders to develop unique payment solutions that offer consumers a convenient, flexible and secure option for conducting payment transactions. The cards will be powered by Sinnad’s PCMS Platform (Prepaid Card Management System). Besides the added benefits of safety, free SMS alerts, semi-annual statements and electronic or online payments, there are no credit checks or hidden charges with the prepaid card. Designed as a multipurpose card, the chip-enabled general prepaid card can be used to give as a gift or simply as a cash replacement tool when travelling abroad. The Internet card can be used exclusively to conduct online transactions. Likewise, existing credit card customers can benefit from the Internet card to make online transactions and avoid fraud risk on their high limits. Consumers can load both the cards with the value of their required transactions only. The Internet card however cannot be accessed for ATM cash withdrawal or POS transactions. The prepaid card also limits the user’s spending by only allowing the amount of money previously deposited on the card to be used, giving the cardholder full control over his or her expenses. Featuring one of the lowest foreign exchange rates in the market, free customer support and straightforward ‘single fee’ pricing as well as an elegant design, the prepaid cards are designed to deliver a great user experience and are being offered as a viable alternative to mainstream bank accounts. E Call 17 508-080 or visit www.bmibank.com.bh.
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