Alinma first Saudi bank to add UnionPay to its card services

17/02/2016 05:43 AST

ALINMA Bank has become the first bank in Saudi Arabia to introduce UnionPay card acceptance. UnionPay is one of largest payment networks in the world; and the move will allow Alinma to fulfill the card transaction needs of the numerous individuals, residing in and traveling to the Kingdom, who are UnionPay cardholders.

Alinma worked in concert with the Saudi Payments Network System (MADA) and the Saudi Arabian Monetary Agency (SAMA) to address the technical requirements related to the linking of Alinma with UnionPay. As a result of the successful implementation, UnionPay cardholders will now be able to use Alinma Bank’s extensive network of ATMs to perform balance inquiries and make cash withdrawals. Additionally, UnionPay cardholders will be able to complete point-of-sale transactions (POS) at retailers using Alinma POS devices.

Alinma Bank will also begin issuing its credit cards with UnionPay system compatibility and the UnionPay logo. This will allow Alinma cardholders to access a worldwide ATM & POS network in over 150 countries and regions, a boon to business travelers and tourists visiting China and East Asia, where UnionPay is the dominant bankcard brand. Alinma plans to issue UnionPay compatible cards later this year.

Speaking about the new service offering, Alinma Bank CEO Abdulmohsen Al-Fares said he was pleased that Alinma could take a leadership role in bringing ease and convenience to both UnionPay cardholders and Alinma partners (customers). He noted that the move would be of particular importance to the large number of East Asian pilgrims traveling to Makkah and Madinah each year as well as the increasing number of business travelers and tourists traveling to and from East Asia as part of the ever-growing global network of trade and commerce. Al-Fares further noted that it was part of Alinma’s strategy to continually address new and emerging needs in the market, and that he was pleased to be in partnership with UnionPay.

Wang Han, Deputy General Manager (In Charge) of UnionPay International Middle East, said “we are endeavoring to deliver secure, convenient and cost-effective payment services to a growing number of cardholders. We believe this cooperation will significantly improve UnionPay’s network in the Kingdom and it will also bring better convenience to UnionPay cardholders. We are looking forward to continued cooperation with Alinma in the near future. With the issuance of UnionPay cards in Saudi Arabia, local residents will also be able to enjoy quality service as well as various value-added privileges provided by UnionPay cards.”

Alinma Bank provides industry leading products and services in line with the latest in banking technology and best practices. It serves its partners (customers) through its network of 116 branches across Saudi Arabia as well as through its full range of electronic channel offerings including Alinma Internet (www.alinma.com), Alinma Phone (8001208000), Alinma Mobile, the Alinma smartphone application, and its network of 1125 kingdom-wide ATMs.

Saudi Gazette