Dubai Mashreq and noon.com launch VIP savings account
Mashreq and noon.com have teamed up to launch the Mashreq noon VIP savings account. The initiative follows the launch of the Visa Mashreq midi VIP credit card last year.
The Mashreq noon VIP Visa Debit Card will offer customers a competitive 2% cashback rate on all purchases made with the card at Noon, Noon Grocery, NowNow and SIVVI, 0.10% cashback on all other retail spend , up to 0.50% interest on the savings account balance, as well as Salaam rewards points, Mashreq’s loyalty program, which allows instant redemption of rewards at more than 850 points of sale in through the United Arab Emirates.
Account holders will also receive a free VIP membership at noon, providing them with discounts, priority customer service and same-day deliveries when shopping at noon.com. Account holders will have access to the Mashreq’s mobile banking platform, foreign currency accounts, fixed deposits and remittance services.
Sridhar Iyer, Head of Mashreq Neo at Mashreq, said: “Through the account, customers who shop at noon will be able to access a range of benefits including 2% cash back on their purchases, attractive interest on the balance in their savings account and a free VIP membership at noon.
Kartik Taneja, Head of Consumer Payments and Lending at Mashreq, said: “This product marks the latest initiative in our long-term partnership with midi – and reiterates our goal of continuously providing customers with helpful solutions. and convenient to meet their needs. Interested customers will be able to open the new Mashreq midi VIP Savings Account in minutes via the Mashreq app or the Mashreq website – no paperwork required. As e-commerce continues to gain momentum. importance in our daily lives, we believe this partnership will continue to deliver exceptional value.
Mosam Gadia, SVP Fintech, noon, “Our team has worked hard to provide shoppers with a greater incentive to save through competitive interest rates on the savings account balance while continuing to improve the shopping experience. Mashreq midi VIP purchase they know and love.”
Shahebaz Khan, Visa’s Managing Director for the United Arab Emirates, Bahrain and Oman, said, “At Visa, we have seen a significant shift to digital payments during the pandemic, which shows no signs of slowing down. The Mashreq midi VIP savings account, with its digital integration and compelling benefits, is sure to continue this momentum.
