Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Egypt, South Africa pledge to deepen development cooperation at G20 meeting    Egypt's PM orders road maintenance review, tougher penalties to curb accidents    Egypt, Novartis explore expanding collaboration in oncology, cardiology    Iran launches mass deportation of Afghans amid spying allegations    EU, China agree on rare earths, climate but divisions remain on trade, Ukraine    Association of Real Estate Developers seeks urgent meeting over threatened land deallocation on Northwest Coast    Midar partners with Adeer to develop Boulevard project in Mostakbal City with EGP 70bn investment    Over 60 million visits recorded under Egypt's Women's Health Initiative since 2019    Culture minister launches national plan to revive film industry, modernise cinematic assets    Thailand, Cambodia clash on new front as tens of thousands flee    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    UK pay settlements stagnant amid inflation surge    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    Egypt welcomes 25-nation statement urging end to Gaza war    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Credit card client accounts valued at EGP 567m in April 2014: Barclays
Published in Daily News Egypt on 07 - 07 - 2014

What is the market segment which Barclays Egypt credit cards services targets?
Barclays Bank Egypt offers its best in class credit card products to salaried, mass affluent, affluent and high net worth segments

Can you disclose the number of clients who have a Barclays credit card? Do you expect that number to grow? Is there a target in increasing the number of credit cards?
Barclays Bank Egypt has over 80,000 credit card clients. We do expect the number of clients holding credit cards to increase as the market develops and customers realise the benefits associated with this form of payment mechanism. Our objective is to make credit cards available to all qualifying Barclays customers, and we have been growing year-on-year by approximately 10% and we expect this trend to continue.

What is the value owed to the bank by the credit card clients? What is the value of that figure to retail loans?
The value owed to the bank by credit card clients as of end of April 2014 accounts is EGP 567m. The value is 50% in comparison to retail loans.

How much are the conditions to obtaining a credit card with Barclays Egypt compliant with Barclays' international standards?
The main conditions for qualifying for a credit card are to establish a proof of income and employment and to have a clean credit history in Egypt. We also assess customer affordability in determining the final offer to the customer. The customer conditions are in line with all local regulations and with Barclays International standards.

Are there any new services the bank is offering with regards to the credit card services?

We now have Barclays Platinum Worldmiles credit card in Egypt whereby customers can redeem their reward miles for air tickets on any airlines, to any destination and at any time.
In addition we are the only bank in Egypt to offer the Barclays Premier League card that enables one customer per quarter to be selected for an all expenses paid trip to watch a Barclays Premier League match live in the UK.
Barclays has recently launched a value packed cash back credit card which offers customers 5% cash back when they do grocery shopping anywhere in the world.
In addition we have several other unique features and services related to our credit card product.

What do you think about that e-payment penetration in Egypt?

In my view, e-payment penetration is low and there is a lot of room to grow in this area, to cover utilities payments, tax payments, person-to-person and business-to-business payments, online shopping and other recurring payments.

Several studies showed that e-payment can help with the growth levels of the gross domestic project (GDP). Do you agree?
I agree that e-payments can help with the growth of GDP as the electronic payments open up new avenues/modes of industry/business growth contributing to the GDP. In addition the growth of e-payments helps to bring more people into the formal financial sector and this enables a greater variety of financial services to be provided based on individual and business requirements. This directly contributes to the growth of GDP.


Clic here to read the story from its source.