MUSCAT: Bank Muscat, the leading financial institution in the Sultanate, has announced the launch of its Visa Pre-Load Payment Card. Aimed at Government and Semi-government institutions, Small and Medium Enterprises (SMEs) and corporate customers, this new corporate card will give a boost to electronic payments and help reduce reliance on cash. 

Bank Muscat’s Visa Pre-Load Payment Card is a contactless card, which can be used for fast, convenient and secure transactions. The card is accepted locally and internationally at Visa’s 100 million+ merchant locations and is ideal for daily administrative expenses, employee travel expenses and online shopping as well as all types of operational expenses and payments thereby helping organizations to streamline their petty cash and cash expenses by enabling electronic record of all transactions.

Some of the key features of this new card include the ability to withdraw cash up to 100 percent of the card balance at any Bank Muscat ATM, a 3-year validity, a maximum pre-load amount of RO 50,000 with no requirement for a minimum balance. The card can be pre-loaded through any of the bank’s branches, ATMs and as well as Internet Banking. Bank Muscat’s existing and new government, semi-government institutions, SMEs and corporate customers can apply for as many cards as they wish to have by visiting the nearest Bank Muscat branch and filling the Corporate Card application form. 

On this occasion, Abdullah Tamman Al Maashani, General Manager – Products, Bank Muscat, said: “We are delighted to launch this new Visa Pre-Load Payment Card for our corporate clients aligned to Bank Muscat’s vision “To serve you better, everyday.” This card offers government institutions, SME and corporates the ability to manage their cash flow and ensures delivering fast, convenient and secure services. It provides transparency as customers will receive monthly statement for the transactions done through the card to help them manage their expenses. At the bank, we pay close attention to customers’ needs and we make sure that we meet their aspirations. Hence, innovation is a key factor in developing products and services. I would also like to express my deep appreciation to all our customers for their strong confidence in our services.” 

Manish Gautam, Visa’s Country Manager for Oman, said, “Innovation in payments is essential to supporting the growth of businesses and local governments’ digital transformation agendas.  Our Visa Corporate solutions are an attractive proposition for businesses and governments looking to streamline expense reporting both easily and securely. We are delighted to work with Bank Muscat in bringing Visa’s solutions to their corporate and government customers. We will continue to work closely with our partners to extend the benefits of digital payments to more local businesses and support the Omani government’s digital transformation agenda.”

Ilham Murtadha Al Hamaid, General Manager – Corporate Banking, Bank Muscat added, “Bank Muscat is keen to leverage its strong digital and technology capabilities in playing a major role in government’s initiatives of national importance. In particular, we are delighted that our continuing strong partnership with Visa has enabled the launching of this Visa Pre-Load Payment Card, ensuring convenience, speed and security of digital transactions for our large family of institutional, corporate and SME customers. This is also something which is consistent with the goals of Oman Vision 2040 and global financial trends. We would like to take this opportunity to invite all our corporate customers to enjoy the benefits that this new Visa card offers.”

To offer better control to corporate customers, the Visa Pre-Load Payment Card is linked with some additional features that will help them, upon receiving access from the bank, to control and manage card restrictions using Visa Spend Clarity for Enterprises. This system is an online application for transaction data consolidation and reporting for financial management services. It helps customers to streamline their card administration, reduce paperwork, and save money by monitoring spending at cardholder and management levels. Through this system, customers can also export data for analysis, create spending reports for every employee and download all transaction information. Bank Muscat is committed to integrating innovation in its business to enhance customer experience of digital channels. The bank’s performance has been consistently lauded by the international financial and banking community for decades. Bank Muscat has been recognized as one of the “Top 100 Companies in the Middle East” and as one of the “Top 50 banks in the Region” by Forbes Middle East.  For more details and to enjoy the remarkable advantages of this card, please visit the nearest Bank Muscat branch or email the team at corporateservicedesk@bankmuscat.com.