Mashreq &SouqPlanet bring‘Everyday Smart Savings' to the Supermarket Counter

United Arab Emirates, Dubai,18thOctober 2014: Mashreq, UAE’s leading financial institution,today announced that it has forged an exciting new partnership with National Catering Company (NCC), one of the largest organizations in the UAE specializing in catering, facility management and Retail F&B sectors; it also owns and operates the Abela and SouqPlanet chain of supermarket stores in Abu Dhabi. Mashreq & NCC will together offer Souq Planet shoppers, cashback rewards for all purchases made using Mashreq’s SmartSaver Credit Card.

The award-winning SmartSaver Credit Card is the best-selling cash-back credit card in the UAE and offers customers ‘smart savings’ opportunities across a plethora of everyday spend categories such as groceries, supermarkets, home-furnishings, essential services e.g. dry-cleaning, book stores and medical centres. In addition it offers a guaranteed give-back of 1.25% and 3.25% on all local and international spends respectively. Further, cardholders also get 5% cash-back on Education, Telecom and Utility spends.

Announcing the partnership with NCC which is also a Mashreq Corporate Banking relationship, Julio Armando De Quesada, Head of Mashreq’s Corporate Investment Banking Group said, “This partnership reflects on the strategy of Mashreq to provide universal banking solutions to its corporate customers”
At SouqPlanet, SmartSaver cardholders will get a whopping 5.25% cash-back on all their purchases, from the very first Dirham they spend, with no tiers, complicated calculations or spend thresholds to be met.

Nimish Dwivedi, Head of Payments said: “With SmartSaver, we have taken customer rewards to a whole new level - from mere cash-back to “smart savings” across the widest set of everyday spend categories. We are constantly on the lookout for alliance opportunities that allow us to build our franchise while offering value-accretive solutions to our cardholders and our partnership with NCC & SouqPlanet, a strong and well-established name in the supermarket space in Abu Dhabi, does precisely that.”

Speaking on the occasion, Amit Tayal, Chief Finance Office, National Catering Company LLC said, “We’re proud to partner with Mashreq and offer SouqPlanet shoppers even better value through a Double Dip of benefits – Cash-back on the SmartSaver Card and SouqPlanet Loyalty Points – on every transaction.”