First 'World Mastercard for Business' Corporate Card Launched in Bahrain
13 May 2018
Market Insights | Financial Services

Mastercard, which is a technology company in the payment industry of the world is a leading one in the industry and has made an announcement about the launch of the new 'World Mastercard for Business' corporate card in Bahrain. This is a card which addresses the commercial needs of both small and medium-scale enterprises of CrediMax and also large businesses such as corporate clients.

As such a premium commercial card solution has never been introduced till now, it would definitely help the businesses of the kingdom to manage expenses monitor the costs in a better way and to improve the efficiency by taking advantage of the benefits that they are going to get with the introduction of such a platform which includes an enhanced buying power and better employee controls.

The Chief Executive of CreditMax, Mr. Yousif Ali Mirza said that this premium corporate card is going to allow their customers and clients to make swift payments with guarantee and keep a track of the expenses which would help them while they make decisions. It also gives their customers a wonderful solution in managing their expenses which will in turn assist them in the growth of their business. He added that by this alliance with Mastercard, they are now enabling corporate companies which are a huge majority in the private sector of the kingdom and that these are the most important organizations in the development of their economic growth. He further added that they are supporting and doing their part in helping the government in improving the ease in the businesses and to make the country digitalized.

With the Mastercard Smart Data in place, the corporate card will allow the customers of CreditMax to make the digital payments much faster and in a more secure way. In addition, the customers would enjoy extended payment period and also reduction in the cost of processing as it will be cashless. While the companies offer better convenience and flexibility to their employees, the companies can also have better control over the expenses. Apart from that, as this solution captures the data spent and automatically generates comprehensive reports, the companies can now use this data for a better internal and external reporting for any sort of increase in the cost control and policy compliance.

Cluster Head, Saudi Arabia and Bahrain, Mastercard, Mr. J.K Khalil said that to meet the variety of needs of different companies and increase their business growth, Mastercard has always taken the position of prominence. He further said that this new solution allows both small and large scale companies in Bahrain to automate their expense related business processes and thus leading to a better expense management and also that it would cut down the risk of accidental errors as well as fraud and increase the efficiency in the businesses.