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Dubai: Visitors to the UAE will now have the option of choosing to carry out dynamic currency conversion of their cash withdrawals when using their Visa card at any Emirates NBD ATM across the country.
The initiative follows a successful pilot by Emirates NBD in partnership with Network International, the leading enabler of digital commerce across the Middle East and Africa (MEA) region, Visa, the world leader in digital payments and international payments services, and technology provider, Planet.
Non-UAE Visa cardholders will now be able to view the exact conversion amount and fees in their home currency before making a cash withdrawal. This will be powered by Planet’s dynamic currency conversion solution, covering over 130 foreign currencies and integrated by Network International across Emirates NBD’s ATM network country-wide.
Suvo Sarkar, Senior EVP & Group Head – Retail Banking & Wealth Management at Emirates NBD, said: “Emirates NBD is committed to making banking easy, accessible and more convenient for UAE residents and visitors alike. We are pleased to launch this service in partnership with Network International, Visa and Planet with the aim to better facilitate cash withdrawals for visitors to the UAE through our extensive ATM network.”
Samer Soliman, Managing Director – Middle East, Network International, said, “As the region’s leading enabler of digital commerce, we are pleased to offer seamless and transparent currency conversion to our clients with coverage of over 130 currencies. This initiative will add value to our clients and we look forward to future collaborations that support our commitment to enhance the UAE’s banking and payment ecosystems.”
Simon Marsden, Managing Director, EMEA, Planet said: “We are pleased to partner with Network International to be the first in the UAE to provide a best-in-class Currency Conversion at ATM solution. We are looking forward to rolling out to over a thousand ATMs alongside Network International’s vast experience and knowledge in the MEA region.”
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About Emirates NBD
Emirates NBD is a leading banking Group in the region. As at 30th June 2019, total assets were AED 537.8 Billion, (equivalent to approx. USD 146 Billion). The Group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 per cent of all financial transactions and requests conducted outside of its branches. The bank was declared the Most Innovative Financial Services Organization of the Year at the 2017 BAI Global Innovation Awards.
The bank currently has 233 branches and 1081 ATMs and SDMs in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand. It is a major player in the UAE corporate and retail banking arena and has strong Islamic Banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.
The Group has operations in the UAE, the Kingdom of Saudi Arabia, Egypt, India, Singapore, the United Kingdom and representative offices in China, Indonesia and Turkey.
The Group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai. For more information, please visit: www.emiratesnbd.com
On 31st July 2019, Emirates NBD acquired Denizbank, a leading bank in Turkey with total assets of AED 134 Billion as at 30th June 2019 (equivalent to approx. USD ~36 Billion). The bank operates through a network of 749 branches, with presence in Turkey, Austria, Germany, Bahrain and Moscow.
For further information on Emirates NBD, please contact:
Ibrahim Sowaidan
Senior Vice President
Head - Group Corporate Affairs
Emirates NBD
Telephone: +971 4 609 4113 / +971 50 6538937
e-mail: ibrahims@emiratesnbd.com
Tricia Kaul
asda’a bcw; Dubai, UAE
Tel: 971-4-4507600; Fax: 971-4-4358040
Email: Tricia.Kaul@bcw-global.com
About Network International:
Network International comprises a group of companies and is the leading enabler of digital commerce across the Middle East and Africa (MEA) region, providing a full suite of technology-enabled payments solutions to merchants and financial institutions of all types and sizes, including acquiring and processing services and a comprehensive ever-evolving range of value-added services.
Network International Holdings Plc is the holding company for Network International and the group companies.
For further information on Network International, please contact:
Tricia Kaul
ASDA’A BCW
Dubai, UAE
Tel: 971-4-4507600 Fax: 971-4-4358040
Email: tricia.kaul@bcw-global.com
About Planet
Planet is an international payments service and technology provider that helps businesses exceed the needs of their international customers. With over 1,500 experts across 58 countries, Planet creates better international payment and service experiences for 300,000 merchants and over 100 partner banks in five continents. Planet is also part of the Eurazeo portfolio of growth companies.
Find out more here: www.planetpayment.com
Contact
Venetia Stanley: venetia.stanley@mullenlowesalt.com / +44 (0) 20 7894 5258
Tara Bell: tara.bell@mullenlowesalt.com / +44 (0) 20 7894 5645
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