Oman Arab Bank launches Instant Rewards System for NFC Cards

Using this system customers using OAB's credit cards can now redeem their accumulated OAB reward points at Points of Sale (POS) machines

  
Oman Arab Bank launches Instant Rewards System for NFC Cards

Muscat: Following the launch of its NFC services last month, Oman Arab Bank (OAB) has now announced the launch of its Instant Rewards Point Redemption feature for all credit cards at partner retailers across the country. Using this system customers using OAB’s credit cards can now redeem their accumulated OAB reward points at Points of Sale (POS) machines across OAB’s network of selected merchant partners.

Commenting on the launch of the new feature, Rashad Al Shaikh, the DGM of Retail Banking at OAB said, “In 2019 we are taking a more focused approach towards enhancing customer service through technological innovation. The launch of this new feature is in line with that focus, offering our customers a convenient and immediate way to redeem their accumulated OAB Reward Points right at the time of sale as opposed to doing so by contacting the bank or via our internet baking service.”

OAB has partnered up with several merchants and outlets across the country, including Home Centre, Emax, Kargeen Café, Gloria Jeans and several others, in order to launch its new Instant Rewards Point Redemption feature on OAB Point of Sales machines.

OAB Rewards is a comprehensive loyalty program that offers customers the opportunity to receive rewards points for purchases made on their OAB credit cards. In addition to Instant Redemptions at merchant partners, the accumulated points can also be redeemed for airlines, hotels, car rental services and more in countries around the world via www.OABrewards.com. Alternatively, customers can instead opt to use the points as a cash-back option.

Using this newly introduced Instant Rewards Point Redemption feature, any OAB customer making purchases from participating merchants can now choose to pay, completely or partially, using their accumulated OAB Reward Points. The entire process is simple and fast and will be carried out seamlessly at the time of payment.

“We are delighted to have such prominent partners on board to provide this service to our customers and we are looking to partner up with several more in the near future,” added Rashad Al Shaikh, “This is just one of several new features we have in store for our card products which we will also launch in the near future. Each of these new features further reinforces our position as one of the most innovative banks in the country.”

This announcement follows the launch of OAB’s new NFC (Near Field Communications) payment capability across its entire ATM network last month. This innovative technology, more commonly known as ‘Tap & Go’ or ‘Contactless Payment’, allows customers to carry out ATM transactions by simply tapping their NFC enabled cards on the ATM. At ATMs this means customers can carry out cash withdrawals much faster than before without ever needing to insert their cards into the machines.

OAB has several more features planned for its card products to be launched later this year, including ‘Tap & Go’ payments at POS machines and the automated redemption of OAB Card Promotions at participating retailers.

OAB offers a range of VISA Credit Cards comprising of VISA Internet, Classic, Gold, Platinum, and Infinite; each of which come with a range of benefits including high credit limits, flexible repayment options, complementary airport lounge access, insurance options, and much more depending on the type of card issued. However, all cards benefit from OAB’s reward points – a comprehensive loyalty program from for the Bank’s Credit Card members offering an array of privileges. It has been designed to keep each customer’s unique lifestyle needs in mind and is amongst the most rewarding value additions to any OAB card holder. Whether it is travelling, staying in a resort, dining out, or shopping for business or pleasure, the OAB Rewards gives each customer more of what they enjoy.

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices, and 152 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.

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© Press Release 2019

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