Saudi bank implements credit rewards programme
Saudi Arabia-based Riyad Bank has implemented the Hassad credit card rewards programme for its customers.
The scheme is an automated, points-based loyalty programme and uses the FirstVision issuing and consumer finance processing solution from US-based First Data.
Participating cardholders can earn one Hassad reward point for every 10 Saudi riyal spent on Riyad Bank credit cards and redeem them at selective outlets.
Riyad Al-Zahrani, senior VP of retail banking at Riyad Bank, commented: “It is well known that acquiring a new customer and keeping a current one are equally important and our loyalty programme plays a key role in achieving both objectives”.
Brian Quarrie. MD of First Data’s business in the Middle East, said that loyalty programmes have become a powerful force shaping competition among financial institutions.
Riyad Bank provides banking services to a base of retail and corporate customers and has 208 branches. The bank also offers a range of e-banking services through a network of 2,413 ATMs and an online banking platform.
Members of the Hassad programme can choose from reward types to suit their lifestyle: Travel and Hotels, Health and Leisure, Education and Training, Home and Garden.
Members get exclusive offers at a range of shops, health clubs, hotels, training courses, holidays, weekend breaks and restaurants.
Reward partners include: All holidays and flights available from a major Saudi Travel Agent, major 4-5 star Hotels, Training Institutes, Health Clubs and Spas, restaurants and casual dining, major fashion, home, hardware and electrical retailers.