Bahraini retail and commercial bank BMI Bank announced last week the launch of two new prepaid cards in partnership with MasterCard.
The cards—a multi-purpose prepaid card usable for purchases at retail outlets, bill-pay services and ATM withdrawal, and an internet prepaid card designed specifically for online purchases—will be powered by Sinnad’s Prepaid Card Management System, and will carry no credit checks or hidden fees.
“Developing customized prepaid solutions is one of our key strengths, and we are excited about our engagement with BMI Bank as consumers across Bahrain will now have yet another opportunity to experience our innovative payment solutions,” Somu Roy, the market manager of Bahrain at MasterCard, said. “MasterCard’s collaboration with BMI Bank is a stellar example of our capability to work with industry leaders to develop unique payment solutions that offer consumers a convenient, flexible and secure option for conducting payment transactions.”
Cardholders can load the cards at BMI Bank branches or by depositing cash at special deposit ATMs, as well as through phone and mobile banking services.
“We are pleased to partner MasterCard, a global financial services brand, to launch this avant-garde suite of cards which is a considerable leap forward and a key milestone in our efforts to bring world class products and services to our customers,” BMI CEO Jamal Al-Hazeem said. “As a responsible local bank, we are committed to develop products and services that help consumers take their first step towards a smarter and convenient way to spend and manage their money. Our prepaid cards aim to promote a cashless environment playing a crucial role in driving overall growth across the country as a tool of empowerment and a key to financial freedom that everyone aspires to.”