Cairo – Mubasher: Offers platform Lucky Egypt has signed a tripartite cooperation protocol with First Abu Dhabi Bank and Visa to launch FAB - Lucky Visa Platinum Credit Card, marking the first-of-kind tripartite partnership in the Egyptian digital payments market.
The new service will simplify the procedures of obtaining a credit card for customers through the application, offering up to 10% cash back, which is the highest percentage on purchases in the Egyptian market.
Customers will be able to view the cash back balance and discount rates, according to a press release on Wednesday.
The new product allows various payment methods such as transferring the balance to the Lucky wallet, direct deposit with FAB, in addition to other payment ways offered by the UAE bank.
Head of Consumer Banking at FAB, Mariam Elsamny, said: “We aim to combine digital technology with the power of banking services, which is the best way to provide exceptional financial services.”
She added: “Through the bank's ambitious vision, we seek to establish sustainable strategic partnerships in financial technology.
The credit card will be launched once the final approval of the Central Bank of Egypt (CBE) is obtained, yet it granted its initial nod.