Majid Al Futtaim Finance is hoping for a slice of the growing e-commerce market in the UAE, with the launch of its latest pre-paid Visa card, MyNetCard.
Designed solely for online shopping, MyNetCard is used like a normal credit card, but does not require the usual credit check, application process or bank account.
According to Euromonitor, the research and information firm, online sales in the UAE reached US$226.8 million (Dh833m) last year and are expected to grow to $270.9m this year.
"MyNetCard is ideal for those who want added security when making online purchases, or for those who don't necessarily qualify for a credit card," says Rasool Hujair, the chief executive of Majid Al Futtaim Finance.
Majid Al Futtaim Finance has linked up with VOX Cinemas to offer users of the card value-added benefits, including the chance to win a Dh1,000 cash prize loaded onto their card if they use it to book film tickets with VOX.
MyNetCard can be bought over the counter at a range of outlets, including Enoc and Eppco petrol stations and Carrefour hyper- markets.
For more information, go to www.maffinanceprepaid.com/mafprepaid.
Mashreq bank, Dubai's third-largest lender by assets, has upgraded its trade and working capital facility to give small-to-medium-sized enterprises (SMEs) easier access to financing options.
The lender says the upgrade will help customers to meet their working capital requirements and has no limits in terms of size, while it offers flexible collateral requirements, trade finance and foreign-exchange solutions
Go to www.mashreqbank.com for details.