Business | Banking
ADCB and Emke launch co-branded MasterCard
Abu Dhabi Commercial Bank (ADCB) and Emke Group, the owner of the popular LuLu retail chain, yesterday launched a co-branded MasterCard providing rewards for the retailer's customers.
- By Ahmed A. Elewa, Senior Reporter
- Published: 00:03 June 12, 2008
Abu Dhabi: Abu Dhabi Commercial Bank (ADCB) and Emke Group, the owner of the popular LuLu retail chain, yesterday launched a co-branded MasterCard providing rewards for the retailer's customers.
With 300,000 daily cust-omers, LuLu is seeking to lure its present shoppers to make more purchases, and even attract new customers through the co-brand, which will be marketed across the country.
Rewards
"We have about 300,000 shoppers per day at our 69 branches across the GCC of which 39 are in the UAE," Yousuf Ali M.A., managing director of Emke Group.
"This co-brand is intended for rewarding our loyal customers, redeeming to them one per cent of their purchases," he added.
"The silver and gold categories of the card are issued and renewed for free, while only the platinum category requires fees," Eirvin Knox, ADCB's chief executive officer, said.
The rise of the co-branding in the credit card business has allowed many international brands to increase sales, as it is a win-win situation for all the parties, the brand, the bank, the credit company, and the customer, according to MasterCard.
"MasterCard was the pioneer in co-branding around the world, and three of the largest programmes Worldwide, namely General Motors, American Airlines, and AT&T are co-branded with us," said Denzel Lawson, general manager of MasterCard Worldwide.
Share this article
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
It costs a million to raise a child
Generation Z doesn't leave home at 18, but stay with the parents until mid-20s
-
Investing in funds doesn't come cheap
Many people are unaware of the effect of different expenses on their returns
-
Firm turns televised events into marketing dream
Drops anchor in Dubai to sell world's richest yachting races
