First “World Mastercard for Business” Corporate Card Launched in Bahrain

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Mastercard, a leading technology company in the global payments industry, has announced the launch of the ‘World Mastercard for Business’ corporate card in Bahrain. The card caters to the commercial needs of CrediMax’s small and medium-sized enterprises (SME) as well as large corporate clients.

As the first of its kind premium commercial card solution to be introduced in the Kingdom, the card will help businesses to streamline expense management to better monitor costs and maximize efficiency while offering the benefits that come with Mastercard’s World platform including increased purchasing power and enhanced employee controls.

“The premium corporate card will allow our clients to make quick and guaranteed payments, and track expenses to help them in decision-making while leveraging intelligent insights derived from data that is captured automatically as and when transactions take place. Similarly, this provides our SME customers with an excellent expense management solution that will contribute towards business growth. Through our collaboration with Mastercard, we are enabling corporate organizations and SMEs, which constitute a large majority of the Kingdom’s private sector and are a key driver of economic growth, to flourish in a technology-driven world and benefit from innovations in the payments sector. Further, we are contributing to the government’s efforts to improve ease of doing business and drive digitization in the country,” said Mr. Yousif Ali Mirza, CrediMax Chief Executive.

“Mastercard has always been at the forefront of championing technology to introduce business solutions that meet the diverse needs of organizations and accelerate their long-term business growth. With the launch of our advanced commercial solution, companies of all sizes in Bahrain can now automate spending-related business processes to streamline expense management and reporting by eliminating the need for reliance on suppliers and vendors for expense reports. Additionally, it will help them to significantly cut down the risk of accidental errors and fraud for increased efficiency in their business,” said J.K. Khalil, Cluster Head, Saudi Arabia and Bahrain, Mastercard.

“With the premium corporate card, we are now able to offer a new value proposition to our customers, giving them an edge over others to capture larger share of the commercial market in Bahrain, and increasingly benefit from cross-border transactions. Further, by promoting the adoption of digital payments, we are contributing to the country’s endeavors to build an advanced digital ecosystem as well as its transition to a cashless economy,” Khalil concluded.

Supported by ‘Mastercard Smart Data’, a smart, web-based expense management application, the corporate card will enable CrediMax’s customers to make faster and more secure digital payments with extended payment periods and reduced cost of processing as compared to cash payments. The solution will also help companies achieve greater control over expenses while offering increased convenience and flexibility to their employees. In addition, the solution, which automatically captures spending data and generate comprehensive reports, will allow companies to use data for efficient internal and external reporting for increased cost control and policy compliance.

For more on CrediMax World Mastercard for Business Corporate Card or other products and services, please call 17117117 or visit www.credimax.com.bh