Mashreq Corporate Credit Card

Several banks and financial institutions in the UAE are offering corporate cards to small business enterprises and new start-ups in order to help them to cope up with cash flow and funding. And when it comes to the best corporate credit card in the UAE region, one can’t help but talk about Mashreq Corporate Credit Card. It is one of the most sought-after and popular credit cards in the UAE.

Carefully conceptualized and thoughtfully designed, Mashreq Corporate Credit Card ensures ultimate benefits, exceptional features and complete peace of mind to help corporates get the maximum value for their money.

This card offers a comprehensive commercial card payment solution for corporates to efficiently manage their corporate payment needs, delivering financial control, rendering ultimate savings, and supreme employee benefits. The Mashreq Corporate Credit Card offers a dedicated relationship management to help corporates focus on their growth without having to worry about corporate payment needs.

Mashreq Corporate Credit Card comes in 2 different variants:

  • Mashreq Purchase Cards - Mashreq Bank is aimed at providing corporate with easy solutions for Business to Business (B2B) and Business to Government (B2G) payments. Mashreq Corporate Purchase Cards are further available in 2 variants:
    • Mashreq Central Payment Cards- This is the physical version of the Mashreq Corporate Credit Card that provides complete solution to all corporate expenses helping corporates score maximum value for money. This card can be issued to company employees for requisition and procurement expense payments and it can be offered under the name of department or an individual, followed by the company’s name.
    • Mashreq Virtual Payment Cards - Mashreq Virtual Cards are secured, plastic-less card solution to help corporates to ensure ultimate transaction security and control on corporate payments.
  • Mashreq Travel & Entertainment Cards- Managing and consolidating corporate employees’ travel & entertainment expenses is perhaps the most important thing for any corporate. This Mashreq card also provides complete peace of mind and a host of value-driven services to ensure rich and satisfying experience for every corporate and their employees. The card has been designed specially to reduce administrative cost and make the process of reconciliation and reporting easier for corporate.

Features of Mashreq Corporate Purchase Credit Card

Mashreq Corporate purchase credit cards are available in two different variants. Both of these cards are loaded with a wide variety of ground-breaking features. Now let’s look at its some of the key features that make them so special. 

Mashreq Central Payment Cards

  • Appearance of the Card:
    • Fourth line embossing of the company’s name on this Mashreq corporate credit card.
    • Cardholders have an option to place the logo of their company or customize the card with any corporate image.
    • Members of this card also have the flexibility to print this card in the name of their company, employee or department as it is required by the company.
  • Chip & Pin Security: This card is enabled with the Chip & Pin security that ensures safe & secured card transactions.
  • Control on Transactions: Card members can apply transaction restrictions at some specific merchant categories as per their business needs.
  • Monthly e-Statements: The cardholder will receive monthly e-statements on his/her main email address and also to the registered email address of all members of this card. The main email address will receive consolidate statement whereas individual card members will receive statements of their respective spends for that particular month.

Mashreq Virtual Payment Cards 

  • Flexible to Use: Virtual card is quite a convenient & flexible program that can easily be implemented along with other corporate card program. However, it can also be a standalone program.
  • Payment Support: It is indeed an ideal platform in order to provide payment support with high volume of transactions especially in a card not present environment through mail order, phone, or e-payments online.
  • Enhanced Security: It offers security against fraudulent and unauthorized transactions via plastic-less cards and customized controls.
  • Globally Accepted: Virtual card accounts are similar like any other ordinary credit card that comes with a valid card number, expiry & CVV code. And it is globally accepted and processed at any supplier that accepts MasterCard.
  • Convenient User Experience: This portal is easy to use for users as well as suppliers.

Common Key Benefits across both variants of Corporate Purchase Cards

Apart from the ground-breaking features of Mashreq Central Payment Cards & Virtual Cards, both of these cards are loaded with some exciting benefits to enable card members to make the proper management of corporate payments:

  • Global Acceptance

Both of these cards can be utilized throughout all government payments via physical POS transactions, online transactions on government websites or mobile applications or through Mashreq online.

  • Convenience of Card Setup
    • Free for life card that comes with no set up cost.
    • A maximum of 51 days of no interest credit thereby supplementing card member’s working capital needs.
  • Ease of Payment
    • Numerous statement cycles are available thereby giving its cardholders the flexibility to choose any of the statement dates.
    • It comes with an auto debit facility. The cardholder can use this facility to avoid the hassle of missing the monthly card outstanding balance due date.
  • Security & Control Mechanism
    • The Company will receive the SMS every time the ‘Central Payment Card Account’ exceeds the 80 percent of its credit limit utilization.
    • It comes with exclusive authorization systems for instant transactions clearance done throughout the world.
  • Reporting Tools
    • The cardholder can avail access to Mashreq Online Banking for real time transaction monitoring & controls.
    • State-of-the-art online reporting tool via Mastercard’s SDG2 platform with the convenience to integrate with the maximum of the already existing ERP systems.
  • Insurance Coverage: In an event of any misuse of the Mashreq Corporate Purchase Card by an employee, the company is safeguarded towards Corporate Liability Waiver Insurance of a maximum of $25,000 per employee & as high as $1,600,000 per Company.

Key Benefits of the Mashreq Travel & Entertainment Card

This credit card offers top of the line benefits to the company as well as employees. Let’s have a look at them:

Key Benefits for the Company

  • Convenience of Card Setup
    • This is a free for life card that comes with no set up cost.
    • A maximum of 51 days of no interest credit thereby supplementing card member’s working capital needs.
  • Ease of Payment
    • This card offers multiple statement cycles thereby giving its cardholders the flexibility to choose any of the statement dates.
    • It comes with an auto debit facility. The cardholder can use this facility to avoid the hassle of missing the monthly card outstanding balance due date.
  • Security & Control Mechanism
    • The Company will receive the SMS every time the ‘Central Payment Card Account’ exceeds the 80 percent of its credit limit utilization.
    • It comes with exclusive authorization systems for instantaneous transactions clearance done throughout the world.
    • The Company also has an authority to apply transaction limitations on the specific merchants across the globe.
  • Reporting Tools
    • The cardholder can avail access to Mashreq Online Banking for real time transaction monitoring & controls.
    • State-of-the-art online reporting tool via Mastercard’s SDG2 platform with the convenience to integrate with the maximum of the already existing ERP systems.
  • Insurance Coverage: In an event of any misuse of the Mashreq Corporate Purchase Card by an employee, the company is safeguarded towards Corporate Liability Waiver Insurance of a maximum of $25,000 per employee & as high as $1,600,000 per Company.

Key Benefits for the Employees

  • Free Airport Lounge Access: The cardholder can avail unlimited free access to more than 500 premium airport lounges in over 300 cities globally via LoungeKey program. In addition to this, card members can avail unlimited Marhaba Airport lounge access in the MEA region on a complimentary basis.
  • Free Travel Insurance: Members of this card can avail free Travel & Accidental insurance that covers the cost of medical emergencies; baggage lost, and trip cancellations.
  • Protection Against Fraud: In the event of fraud activity on the card, Mashreq Corporate Credit Card provides protection for up to $2,000 per instance of misuse, capped at up to $4,000 in a year. 
  • Regus Business Lounge Access: The card member can avail access to more than 1600 Regus Business Lounge across 600 cities in over 100 countries at 50% discount.
  • Dining Privileges: Card members can avail dining discounts a maximum of 30% off at restaurants and premium 5-star hotels across the Egypt, Qatar, Oman, Kuwait, Bahrain, India, and UAE with Mashreq Flavors.
  • Travel Privileges: Members of this credit card can avail great offers and discounts on air travel, hotel bookings, getaways, shopping abroad & more.
  • Mashreq Privileges: With this card, one can enjoy exclusive deals & offers across healthcare business, wellness, support services, and a lot more.
  • Priceless Arabia: Cardholders can avail the Mastercard Commercial Card offers on travel, dining, and more at the official website of the priceless Arabia.
  • Picture Card Option: Members of this card also have an option to place their company’s logo or customize the card with any corporate image for recognition.

Fees and Charges of Mashreq Corporate Credit Card

Here are the fees & charges associated with the Mashreq Corporate Credit Card:

Description Values
Annual Membership Fee Free for life

Cash Advance Fee

3.15% or minimum AED 200, whichever is greater

Over limit fee

AED 292.95

Late payment fee

AED 241.5

Card replacement fee

AED 78.8

Paper Statement Fee

AED 5.25

Forex Charges  

2.30%

Returned Cheque Fee

AED 315

Supplementary card fee

Free

Maintenance Fee

Free

Retail Interest Rate

3.25% monthly

Mashreq Corporate Credit Card Rewards

Corporate Credit Card Rewards

Mashreq Corporate Credit Card provides card members with direct access to exclusive corporate card rewards, discounts and offers. Card members get to enjoy special & exclusive discounts on air travel, getaways, hotel bookings, shopping abroad and more with Mashreq Corporate Credit Card. In addition, card members get to earn up to 30% at restaurants and premium 5-star hotels across the Egypt, Qatar, Oman, Kuwait, Bahrain, India and UAE. And that’s not all; Mashreq Corporate Credit Cardholders also get to exclusive offers and deals across wellness, healthcare business, and support services.

MasterCard Commercial Card Offers

In addition to the exclusive discounts and deals that can be availed on Mashreq Corporate Credit Card, card members may also get access to MasterCard Commercial Card Offers where card members get to earn exclusive deals and discounts across dining, travel and more at pricelessarabia.com.

How to Apply For Mashreq Corporate Credit Card?

Applying for a corporate credit card in the UAE is pretty different from that of personal credit card application. Here’s a step-by-step guide to applying for corporate credit cards in the UAE for established corporates, small businesses and start-ups.

Find Out the Credit Score

Remember, rejection or acceptance of corporate credit card largely depends upon the credit score of the business and the business owners. So the first step when applying for a corporate credit card in the UAE is to ensure that the applicant’s or business’ credit score is good. Experts suggest that one must carefully mull over the credit score before applying for a corporate credit card in the UAE to save both time and resources. Mashreq Bank carefully analyses the credit score of the applicant, be it an individual or an organization, upon successful submission of the corporate credit card application form. Furthermore, Mashreq Bank also carefully analyses company’s revenue, type of industry for the applicant organization and company’s monthly expenses before accepting or rejecting a corporate credit card application. Companies with excellent revenue or remarkable repayment history and business owners with good credit score easily qualify for the Mashreq Corporate Credit Card that comes loaded with a staggering range of exclusive privileges and unlimited rewards.

Ascertain Corporate Card Eligibility

Next step is to ascertain if the corporate credit card applicant is eligible for the Mashreq Corporate Credit Card or not. There are a certain terms and conditions stipulated by Mashreq Bank in order to be eligible for its Corporate Credit Card. It makes sense for the applicants to carefully check the eligibility terms and conditions to ascertain if they or their organization stands eligible for the Mashreq Corporate Credit Card or not.

Collect Required Documents

Corporate Credit Card application isn’t considered complete without apt documents. It makes sense for the applicants to collect all required documents beforehand to avoid any last minute rush at the time of application.

Corporate Credit Card Application

Last and the final step when applying for Mashreq Corporate Credit Card is to fill out the application form, attach the documents and submit the application for review. In order to apply for Mashreq Corporate Credit Card, interested applicants may visit the official website of Mashreq Bank and apply for the card by simply filling out an online application form. Alternatively, an individual can also visit the nearby branch of the Mashreq bank to apply for the corporate card.

FAQs on Mashreq Corporate Credit Card

Q.1. Who can apply for Mashreq Corporate Credit Card?

Ans: Any business owner can apply for Mashreq Corporate Credit Card on the behalf of their business, be it an established corporate or a start-up or a small business.

Q.2. Do Mashreq Corporate Credit Card members get supplementary cards?

Ans: Yes! Supplementary Corporate Credit Cards can be issued to the partners or employees of the organization upon request from the authorized signatory on behalf of the company.

Q.3. How many supplementary credit cards can be issued to a business?

Ans: Businesses that have Mashreq Corporate Credit Card can request for as many as 99 supplementary cards.

Q.4. Is there an annual fee for Mashreq Corporate Credit Card?

Ans: No. There is no annual membership fee for Mashreq Corporate Credit Card. It is a free for life credit card.

Q.6. How many no interest days are offered?

Ans: The card member can avail a maximum of 51 days of interest free days.

Q.7. Does Mashreq Corporate Credit Card offer complimentary lounge access?

Ans: Mashreq Corporate Credit Card provides corporate card holders with free complimentary access to more than 500 premium airport lounges in more than 300 cities worldwide. In addition, the card also offers access to over 1600 Regus Business Lounge across in 100 countries at 50% discount. Mashreq Corporate Credit Card members can savour the impeccable hospitality at one of the many participating lounges by simply presenting their Mashreq Corporate Credit Card.

Q.8. Does every card member, including the supplementary card members, get the statement for transactions on card(s)?

Ans: Yes! Email statement is sent to employees at their registered email addresses, every month. In addition, a consolidated e-statement is sent to the Program Administrator, every month.

Q.9. Does Mashreq Corporate Credit Card provide protection against fraudulent activities?

Ans: Yes! In the event of fraud activity on the card, Mashreq Corporate Credit Card provides protection for up to $2,000 per instance of misuse, capped at up to $4,000 in a year. 

Q.10. What is SDG2?

Ans: Mastercard Smart Data Generation 2 or SDG2 is a ground-breaking web-based reporting solution to help card holders with expense and information management. This unique feature allows card holders to turn data into business intelligence with customizable templates, HTML previews, advanced filtering options, report categorization, and the ability to create and export reports in a variety of formats. 

Q.11. How does Mashreq Corporate Credit Card protect my company against card misuse by an employee?

Ans: Mashreq Corporate Credit Card ensures comprehensive protection against misuse of the card by an employee with Corporate Liability Waiver Insurance for up to $25,000 per employee and up to a maximum of $1,600,000 per company.

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