UNB, Abu Dhabi Co-op to Jointly Launch Visa Card |
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ABU DHABI -- Union National Bank, or UNBUnion National Bank, or UNB
, and Abu Dhabi Co-operative SocietyAbu Dhabi Co-operative Society have joined hands to launch a Visa credit card, which will offer several incentives to the customers.
The customers who are having the new 'UNBUNB Abu Dhabi CO-OP Society "Extra" Credit Card' will get a 3.5 per cent cash back on all purchases from Abu Dhabi Co-operative SocietyAbu Dhabi Co-operative Society and exclusive discounts up to 50 per cent in various sections of the society including the Costless ?Electronics Section.
Sales through the plastic cards account about nine per cent of the total annual business volume of nearly Dh1.5 billion of the Abu Dhabi Co-operative SocietyAbu Dhabi Co-operative Society, Georges M J Mojica, General Manager of the society, told a Press conference after the launch of the card. The society's business is growing at 20 per cent annually, he said.
According to him, about 10 per cent of the Abu Dhabi residents visit the retail outlets of the Abu Dhabi co-operative society every day, and the daily transactions are about 45,000.
The retail chain controls about 40 per cent of the market share in that segment of business in Abu Dhabi.
Customers can make a saving of at least Dh2100 annually by using the "Extra" credit card. This is much higher than the monthly grocery expenditure of the families in Abu Dhabi, which is estimated to be about Dh1500, according to Ashish Khosla, vice-president and manager marketing and product development of UNBUNB. ?
By T. Ramavarman
© Khaleej Times 2009
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