(MENAFN- The Peninsula) Commercial Bank, one of the leading providers of banking services in Qatar, and Alfardan Exchange, were presented with the regional "Prepaid Card Marketing Campaign of the Year" award at the annual 'Visa Prepaid Conference and Awards' ceremony held in Dubai recently.
The prepaid card behind the award is the Alfardan Exchange Visa Travel Money Card, launched in August 2014 in a joint venture between Commercial Bank and Alfardan Exchange.
The re-loadable prepaid card was a first-of-its-kind product in the marketplace, allowing cardholders to purchase and hold multiple foreign currencies on one plastic, which can then be used to pay for goods and services or to withdraw money from ATMs worldwide, providing a safe and convenient way to carry and manage foreign currencies when travelling.
Dean Proctor, Commercial Bank Executive General Manager, Chief Consumer and Private Banking, said: "Commercial Bank and Alfardan Exchange are delighted to have won this prestigious and be recognised at a regional level for the launch of our innovative product. By keeping innovation at the forefront of our business, Commercial Bank has a proven track record of raising industry standards and pioneering innovative solutions that keep pace with the changing needs of our market."
The President of Alfardan Exchange, Fahad Alfardan, said: "We are proud and honoured to receive this award, which demonstrates the strategic and positive collaboration between Commercial Bank and Alfardan Exchange by successfully introducing to the market the Alfardan Exchange Visa Travel Money Card to travellers and tourists.
This initiative reflects our strong commitment towards quality service and excellence, always striving towards innovative concepts for our customers. The award is a testament of our expertise in the industry for more than 40 years and we will remain dedicated in our continued promise in offering the best services to our valued clients. With the outstanding success of Alfardan Exchange Visa Travel Card we certainly anticipate to introduce more business concepts with similar successes in the future."
Both the companies had been shortlisted to win the award after the success of their social media campaign over three weeks. The social media campaign promoting the Prepaid card swept through Qatar, reaching over 140,000 people including many new customers and resulting in an impressive 32 percent increase in card sales as well as an increase in visits to Alfardan Exchange branches across the country.
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