OAB Signs Agreement with Visa for the Launch of Visa Platinum card for ‘Advantage’ Customers

  • For the first time in Oman, guaranteed limited time 1% cashback on all digital and POS transactions with the ‘Advantage’ Visa debit card
  • Attractive rates of up to 3% p.a with Growth Plus account
  • Loans starting from 4.7% p.a
  • Exclusive travel benefits and more

Muscat, January 31, 2022: In line with its continuous endeavours to provide high-quality services to all its customers across various segments, Oman Arab Bank (OAB) recently signed up with the world’s leader in digital payments, Visa, to collaborate for its new ‘Advantage’ segment. This is aimed at offering Visa Platinum debit and credit cards to the upper mass segment, which are customers with salaries ranging from OMR 1,000 – OMR 3,499 or deposit OMR 10,000 -34,999. Setting itself apart from competitors, the debit card offers a limited time 1% cashback on all digital and POS transactions for the first time in the Sultanate, alongside hosting attractive rates, exclusive travel benefits and more.

Commenting on the signing and the launch of ‘Advantage’, Rashad Al Shaikh, Head of the Retail Banking Division at OAB, said, “At OAB, we believe that all the facilities we offer must be inclusive and customised to best meet the needs of our large customer base, especially with regard to their respective earning tiers.  Targeted towards customers within the mid-salary range (from OMR 1,000 – OMR 3,499 or deposit OMR 10,000 -34,999), ‘Advantage’ seeks to provide them with a myriad of opportunities and enrich their overall banking experience with OAB. A unique aspect of the new facility that places it ahead of its competitors is that it is the first debit card in Oman to provide a 1% cashback on all digital and POS transactions, while also opening the door for our customers to step into a world of incredible advantages.”

Customers that meet the requirements of the ‘Advantage’ segment can, benefit from competitive rates for new and buyout loans and receive exclusive returns on savings up to 3% p.a. with Growth Plus account. In addition, they will be eligible for monthly draws on salary transfer, enjoy complimentary airport pick and drop-off services from and to Muscat International Airport, have lounge access to over 35 airports and a dedicated customer service number through OAB’s “Fil Khidma” call center. Customers can easily sign-up by visiting any of the Bank’s branches and filling in the requisite details. Existing customers can also upgrade digitally via the OAB online app.

“At OAB, we are always keen on ensuring that we introduce new and innovative means to enhance our customer’s banking experience, which is aligned with one of the key pillars of our transformational strategy. Through the launch of ‘Advantage’, which is specially crafted to suit our mid-range customer’s diverse lifestyles, we can support them by providing them with the best possible services, so that they can focus on the things that matter in life. We are thankful to VISA for their collaboration and look forward to seeing the positive impact the new facility will bring in the long run. This, in turn, will reinforce OAB’s position as a customer-centric institution, placing it at the forefront of the banking sector,” Rashad added.

From her side, Dr. Saeeda Jaffar, Visa’s Group Country Manager for GCC, said, “Visa is delighted to partner with OAB to launch their new Visa Platinum card with a unique proposition tailored for their ‘Advantage’ segment customers. Our cardholders in Oman enjoy the security, convenience and reliability of their Visa cards – and now, with this new Visa Platinum card from OAB, they will also be rewarded every time they pay. This product is a great way to expose more consumers to the benefits of digital commerce and encourage business at our merchant partners in Oman. We look forward to growing our partnership with Oman Arab Bank by developing more innovative digital payment products and enabling the bank to deliver the secure, frictionless and rewarding payment experiences our Visa cardholders in Oman increasingly expect and deserve.”

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the Oman Arab Bank Group operates a nationwide network of 51 conventional branches, 15 Islamic branches, 150 conventional ATMs and 15 Islamic ATMs in high footfall locations across the Sultanate. OAB provides a complete range of financial products and services through its OAB Online App. Customers can now digitally benefit from several other services, directly from the convenience of their mobile phones.