Muscat, Oman – July 31, 2012: bank muscat, the flagship financial institution in the Sultanate of Oman, has recently launched the MasterCard Travel Card, the first of its kind in Oman, designed to optimise the holiday and travel experience of individuals and business managers.
With its various new features, the bank muscat MasterCard Travel Card provides an electronic payment solution and a safer alternative to the conventional payment methods, such as the traveller's cheques or foreign currency, making of travel a more convenient and hassle-free experience.
The new Travel Card, which can be used at any establishment that bears the MasterCard logo across the world, is available in multiple foreign currencies. Cardholders can load the Card with one currency, with the options of US Dollar, Euro, UAE Dirham or British Pound. Once the Card is loaded, it can be used like any other MasterCard card in the currency of the cardholder's choice.
The Travel Card comes with two-year validity and can be reloaded as many times as cardholders wish. It also gives holders the advantage of making online transactions and tracking these online on the bank's website. In addition, cardholders will receive instant SMS alerts after each transaction, which helps them track their card usage.
Tariq Atiq, AGM – Cards & e-Banking, said: “We are delighted to offer the MasterCard Travel Card, a new concept in Oman which enhances travel convenience. The card is available to everyone, facilitating budgeting and financial management in the right manner. bank muscat encourages the use of electronic payments, thereby underscoring the fact that payment by cards is both convenient and secure."
Safdar Khan, market manager, Qatar, Oman and Kuwait, MasterCard Worldwide said: "We are committed to working closely with our customer banks to provide innovative, safe and convenient payment solutions in the Omani market. As a safe and secure electronic payment solution, BankMuscat's MasterCard Travel Card will enhance the holiday and travel experience of Omani residents, who will no longer need to worry about getting and carrying cash while traveling. Also, as payments are made against the funds in cardholders' balance, cardholders will have more control over their finances."
The card can be purchased and reloaded initially at the Head Office Branch only and has a maximum cash-load amount of RO 5,000. The scope will be extended to selected bank muscat branches in Oman. To view the branches that will sell the card, please logo to www.bankmuscat.com/cards
Cardholders can pay in Omani Riyals to load the Card with the currency of choice with a daily cash withdrawal limit of RO 400.
An account with the bank is not mandatory to purchase the MasterCard Travel Card. Among the safety and security features of the card, a 'lost and stolen card protection' feature is available. Should cardholders report a card as lost or stolen, the card will be blocked and funds on the card will be safe from misuse.