Commercial Bank launches Visa Signature Credit Card for SMEs

Doha, Qatar: Commercial Bank, Qatar’s first private bank, has launched the Visa Signature Credit Card in Qatar, the Bank’s first Credit Card which is tailored specifically for small and medium sized enterprises (SMEs).

At a public ceremony attended by Commercial Bank’s CEO and senior management, together with regional officials from Visa International, Commercial Bank launched the new Credit Card to SME owners and the media. Commercial Bank’s Visa Signature Credit Card for SMEs is a new product brought by the Bank to address the needs of Qatar’s growing SMEs.

The Visa Signature Credit Card for SMEs helps Enterprise Banking customers to differentiate between business expenses and personal expenses, which has been identified as one of the main challenges that business owners face when using a card for payment. The new Credit Card is a must for all government and business related transactions and its key features include cash back up to 2% on purchase transactions; complementary unlimited access to over 650 airport lounges worldwide; free corporate liability waiver insurance; free multi-trip travel insurance, purchase protection. Cardholders also enjoy exclusive discounts at merchant outlets in Qatar to help pay for business expenses such as office furniture, computers, stationary, and courier services.

Joseph Abraham, Commercial Bank CEO said: “The Qatar National Vision 2030 identifies SMEs as key constituents for sustainable economic development and Commercial Bank supports economic diversity and sustainability in Qatar by providing dedicated services to SMEs. As the Qatari bank of choice for SMEs, we recognised a need from our Enterprise Banking customers to provide the Commercial Bank Visa Signature Credit Card, which is tailored specifically for this growing and vital segment of the economy.”

Roya Khajeh, AGM and Head of Cards & Payments at Commercial Bank said: “The roll out of this new product is a reflection of the Bank’s continuous commitment to provide our valued customers with the best and latest products available in the card industry to serve their business needs. The Commercial Bank Visa Signature Credit Card for SMEs acts as your partner to help support and grow your business to take it to the next level, delivering cost effective solutions across borders with a flexibility that is unmatched by our competitors.”

Selim Ergoz, General Manager, Qatar, UAE & Pakistan, Visa, said: “Partnering with banks to help SMEs grow and achieve success is a strategic priority for Visa. The Visa Signature Credit Card for SMEs is an important new addition to the payments landscape in Qatar that we believe will accelerate the use of electronic payments among SMEs and support the government’s diversification agenda. We are delighted that Commercial Bank has become the first bank in Qatar to introduce the Visa Signature Credit Card to SME customers here.”