Saudi's NCB and Mastercard launch credit card for corporates

The Mastercard Corporate World card allows companies to effectively manage their expenses and corporate payment needs. The card aims to maximize companies’ financial control and provide them with full visibility in order to reduce costs and enhance cash flow.

J.K. Khalil, country manager, Saudi Arabia, Bahrain and Levant, Mastercard, said: “As a trusted technology leader and proud supporter of the business community, we are delighted to collaborate with NCB to expand inclusion for best-in-class financial control, B2B expenditures and corporate travel benefits. We remain committed to helping businesses by offering innovative tools and payment solutions that enable them to make the most of the digital economy and an ever-strengthening payment ecosystem.”

Majed Al-Ghamdi, chief executive of retail, NCB, said: “We are delighted to once again collaborate with Mastercard for another solution which we believe will provide strong value to businesses by offering the tools to enhance efficiency as well as meet their working capital requirements. Through the commercial credit card, our large corporate customers as well as SME clients will be able to make cashless transactions seamlessly and conveniently, while maintaining a stronger control over their cash flows. Furthermore, the initiative will add benefits to our corporate customers, such as control of spending and compliance with corporate policies.”

The new corporate credit card delivers a range of innovative benefits and product offerings designed for the diverse needs of large corporations. Additionally, the dedicated self-service portal on AlAhlieCorp responds to requests and enables best-in-class relationship management. The card also offers consolidated e-statements and spending trends, so that cardholders and the management can benefit from simplified reconciliation and enhanced, integrated reporting.

The new credit card features a host of offers and rewards, including complimentary airport lounge access in more than 1,000 lounges across 300 cities with LoungeKey. It further includes complimentary travel and accident insurance, cover for medical emergencies, trip cancellations and lost baggage, in addition to other value-added benefits.

Additionally, companies that request an NCB corporate credit card before June 30 will have their annual fee waived for the first year.