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National Bank of Egypt introduces its first Visa Gold Credit Card

The National Bank of Egypt is working on spreading the idea of e-commerce in Egypt by offering its customers new benefits.
As part of their endeavor to boost e-commerce and provide premium offerings tailored to meet the needs of a growing sector of clientele, the National Bank of Egypt (NBE) and Visa recently launched the NBE Visa Gold credit card.

The results of a full customer segmentation exercise performed on NBE's existing customer base highlighted the need for a premium Gold offering which rewards high-end customers by providing lifestyle benefits and services in sync with their spending habits.

"Visa helps millions of cardholders across the world better manage their finances by offering a wide array of payment products tailored to suit the needs of every consumer segment," said Tarek Elhousseiny, Visa's General Manager for North and Francophone Africa.

"It's no secret that e-commerce and online payments are a growing trend and by providing Visa Gold credit card, we aim to cater to cardholders' increasing desire to shop with convenience, security and flexibility whenever and wherever they choose."

According to the results of a recent survey released by the Arab Advisors Group (AAG), about 22.4% of internet users in Egypt buy products or services or pay their bills online. The survey further revealed that electronics are the most popular products bought online, followed by software, while airline ticket booking and website subscriptions are the top services paid for online. The survey estimates the number of these users to be around 2.8 million, or around 3.4% of the total population in Egypt.

"With the launch of the new Visa Gold credit card, our customers can enjoy the wide acceptance offered to cardholders as they can be used at tens of millions of merchants and ATMs worldwide," said Mr. Hazem Hegazy, Head of Retail at the National Bank of Egypt.

"The growing needs of our customers and the increasing number of consumers with upward spending power in the Egyptian market are being met with the new NBE Visa Gold credit card. The new premium offering will help us attract new client segments as well as provide our current premium clients with a secure and convenient electronic payment solution."

"To give more cardholders the chance to enjoy the many benefits of Visa Premium products, National Bank of Egypt will identify select Visa Classic cardholders and offer to upgrade them with no additional fees," he added.

Visa Gold credit cards provide cardholders with easy access to an excellent selection of travel, dining, shopping and lifestyle opportunities, in addition to the international support network, which offers the added benefits of emergency card replacement and/or cash in case the card is lost or stolen, as well as a medical and legal referral service.

The NBE Visa Gold credit card offers cardholders the option to make purchases online with the security of Verified by Visa, an extra layer of protection from unauthorized charges for consumers when making online payments.