Mashreq bank and noon.com have signed a long-term strategic partnership to combine the expertise of the two entities to offer customers access to a range of services in a secure manner.
The first leg of the partnership will kick off with the launch of the 'Mashreq noon VIP Visa Credit Card', the UAE's first e-commerce co-branded credit card.
It will offer customers a wide range of benefits including 3.5 per cent cashback on all purchases at noon, 1 per cent on all other domestic and international spends, a joining bonus of Dh500, and zero annual fees.
Additionally, cardholders will receive exclusive noon privileges including free delivery on all noon express orders, complimentary discounts at multiple merchant and retail partners, and 0 per cent interest rate for the first six months.
Abdul Aziz Al Ghurair, chairman of Mashreq Bank, said the region's e-commerce landscape has rapidly evolved in recent years, but it has significantly accelerated over the last few months as people increasingly shop online due to the Covid-19 pandemic.
Mohamed Alabbar, noon, said of the partnership:
"I firmly believe our market is on the cusp of a large e-commerce revolution, one which the pandemic will only accelerate... People are shopping online with increased vigor, trust and need."
As UAE customers evolve to rely increasingly on digital services, the new partnership from Mashreq and noon will focus on transforming everyday shopping for residents, and incentivize them with complimentary membership to noon VIP, a market-leading loyalty programme. Already live in the UAE, the noon VIP programme will be available to all Mashreq and noon customers who are registered Mashreq noon VIP Visa credit cardholders.
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