First Bank in the region to launch Card Control 

Dubai, UAE, August 21, 2016:  Purchasing an item using your card or cash is something of the past. All that you need in today’s world is a mobile phone or tablet. However, many card customers remain wary of new technology because they lack the ability to proactively manage their card spends. 

This is no longer an issue. Mashreq, the market leader in innovation, is once again revolutionizing the mobile space by introducing a new card control capability which is integrated with its award-winning mobile banking Snapp and the Tap n Go wallet. This ground breaking launch is in response to customer’s demand to fully control their cards, including their supplementary cards. Mashreq’s Card Control is gives customers the power to lock, block, limit, manage daily purchases and set maximum transaction amount and count on all their cards, thus giving customers instant security and empowerment on-the-go. The new functionality will make it easier and more convenient for customers to have full control on both credit and debit cards anywhere and at any time. In addition, customers can also apply instantly for Tap N Go  at no additional cost to enjoy the benefits and convenience of contactless payments.  

Subroto Som, Head of Retail Banking Group at Mashreq said, “The UAE recently ranked Number 1 in the Arab World in terms of the overall performance on the 2016 Global Innovation Index. At Mashreq, innovation is in our DNA and we continue to raise the bar to offer simplified banking to our customers. Today we are proud to be the first in the region to consolidate many desired functionalities into our Snapp application and adding new ones, thus putting the customer in complete control. The new Snapp functionalities are part of a continuous journey of innovation at Mashreq and our customers can look forward to many more path-breaking innovations in the coming months.”

Som added, “In the past, customers didn’t have control over their cards, specifically the spending limits on the supplementary cards they give to their family. Also, customers sometimes misplace their cards, and then end up going through a poor service experience of having to call their bank, block or cancel each card. They are then forced to wait for a replacement card even if they found their misplaced card, as the bank will not allow them to use the card again. The new Card Control feature will address these concerns – customers can simply open Snapp, and instantly lock their misplaced card, and unlock it once it is found.”

The UAE’s highly successful first NFC mobile wallet “Tap n Go” that works on all type of phones and operating systems was first launched by Mashreq in 2014. Mashreq now enables customers to apply for Tap n Go sticker which can be placed at the back of any phone, enabling contactless card payments at thousands of merchants locally and globally. Customers can lock and unlock it via Snapp or Mashreq Online making it much more convenient and easier to use.

Aref Al Ramli, Head of Digital Banking, Mashreq commented, “We are witnessing an accelerated growth of smartphones, with UAE’s 78% smartphone penetration ranking among the highest in the world. Snapp is our most engaging channel with over 81% of digital enquiries and more than 3 million interactions each month. By Combining the popular Tap N Go Contactless payments capability into Snap’s Card Control feature, we are the first Bank in the region to deliver end-to-end contactless payment solution, with complete control in the customer’s hand.”

Extended features of Snapp include push notification, geo-location, proximity notification and personalized messaging, including location based discounts and offers. The app also makes banking an even more convenient experience for Mashreq customers with instant e-account opening, Mashreq offers, Non Mashreq Credit Card payment, Instant Fixed Deposits and Easy Saver Account opening, without requiring a visit to the branch.