First Data announces successful launch of Riyad Bank's Hassad rewards programme

Wednesday, First Data together with Riyad Bank, was delighted to announce the successful launch of a new credit card reward programme for customers of the leading financial institution in Saudi Arabia.

Riyad Bank's Hassad rewards programme represents an automated, points-based loyalty programme powered by First Data's loyalty technology on FirstVisionTM, its global issuing and consumer finance processing solution. Cardholders, participating in the programme, can earn one Hassad reward point for every 10 Saudi riyal spent on Riyad Bank credit cards and redeem them at selective outlets.

According to Mr. Riyad Al-Zahrani, senior vice president of retail banking at Riyad Bank, the bank has enjoyed a long and fruitful relationship with First Data and First Data has delivered considerable value and expertise to its business. He also believes that the loyalty programmes, like just launched Riyad Bank's Hassad rewards programme, plays a key role in achieving to main goals: acquiring a new customer and keeping a current one.

"Loyalty programmes today have become a powerful force shaping competition among financial institutions," said Brian Quarrie, managing director of First Data's business in the Middle East.