The card makes cash back simple; 1.5% cash back, zero complications

Abu Dhabi, United Arab Emirates, 15 June 2014: Abu Dhabi Commercial Bank (ADCB) continues to advance its 'SimplyLife' brand by launching its first ever credit card. The new Titanium MasterCard Credit Card offers a powerful cash back proposition to consumers; 1.5% cash back on every purchase.

SimplyLife, a consumer finance brand specializing in simple, quick and accessible personal finance products, understands that sometimes important moments in life require a little help, that's why the new credit card gives consumers cash back without the hassle of complicated rules, difficult qualifying conditions or a tedious redemption process. SimplyLife from ADCB offers the platform for consumers to aspire for larger things in life and achieve important moments in their lives.

Sundar Parthasarathy, Head - New Business at ADCB, said: "In April, we launched SimplyLife to make personal and car loans more accessible. Today, we're enhancing that offering with the launch of our SimplyLife cash back credit card. Our customers can now benefit from a powerful cash back program, giving them greater financial freedom and convenience to achieve their goals in life. The credit card market has many cash back offers, but ours is the only cash back program that can be explained in two lines- spend AED 1,000 in a month and you avail the cash back. It is that simple."

As an introductory offer, customers who sign up for the SimplyLife Titanium MasterCard Credit Card will be able to earn two free movie tickets every month, after spending AED 1,500 in the same month. There are no tedious redemption processes; the customer can use their simplylife credit card to buy two cinema tickets at any theatres in UAE to receive a cash back up to AED 70 in the next month.

Commenting on this, Eyad Al-Kourdi, Country Manager - UAE, MasterCard, said: "The launch of SimplyLife Titanium MasterCard Credit Card builds on our longstanding collaboration with ADCB, and we are confident that this rewarding product will instantly appeal to the UAE consumers. Developing innovative payment solutions that offer exceptional value to cardholders is a key priority for MasterCard and we look forward to introducing similar solutions with ADCB that can become the preferred everyday payment tool for the bank's customers." 

SimplyLife is inspired by a commitment to helping people achieve their ambitions. Launched as a strategic business unit of ADCB, it offers personal loans of up to AED 500,000 for customers with salary transfer and car loans worth up to 80% of the value of the car, to a maximum of AED 1.5 million.

About ADCB
ADCB was formed in 1985 and as at 31 March 2014 employed over 4,500 people from 57 nationalities, serving over 542,000 retail customers and more than 41,000 corporate and SME clients in 50 branches, 3 pay offices and 2 branches in India, 1 branch in Jersey and a representative office in London.  As at 31 March 2014, ADCB's total assets were AED 186 bn.ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate and currency derivatives and Islamic products, project finance and property management services.ADCB is owned 58.08% by the Abu Dhabi Government through the Abu Dhabi Investment Council.  Its shares are traded on the Abu Dhabi Securities Exchange.  As at 31 March 2014, ADCB's market capitalisation was AED 38 bn.

About MasterCard
MasterCard (NSYE: MA), www.mastercard.com is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter: @MasterCardMEA and @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the MEA Engagement Bureau.

Contacts:
Sherif Zaki,
szaki@golinharris.ae
+971501551328

© Press Release 2014