World Elite Mastercard features dual-chip design and premium cashback benefits
Al-Qatami:
- Dual-Chip Innovation: A dual-chip card for Private Banking customers, integrating separate debit and credit functionalities into a single card.
- Competitive Cashback: Up to 10% cashback on transactions, with a monthly cap of KWD 1,000 and up to KWD 12,000 annually for credit card usage.
- Customer-Focused Design: Tailored to the needs of premium customer segments.
- Data-Informed Development: Based on ongoing internal research and analysis of customer behavior to improve the banking experience.
- Strategic Growth: Supporting the bank’s strategy to strengthen its traditional and digital banking services and reinforce its position in the Islamic banking sector.
Warba Bank announced the launch of its
"Dual Chip Contactless World Elite Mastercard," a banking solution designed for Private Banking customers. The new card features two independent EMV chips—one for debit and one for credit—integrated into a single card, supported by dual-side NFC technology for contactless payments.
The solution addresses technical integration challenges by allowing customers to select which account to use for contactless transactions based on the side of the card tapped. This dual-chip structure ensures compliance with international security standards while providing enhanced flexibility for high-net-worth users.
Innovation Driven by Customer Insight:
Mr. Ahmad Faisal Al-Qatami, Chief Retail Banking Officer at Warba Bank, said the launch reflects the bank’s philosophy of segment-specific innovation.
"We do not believe in one-size-fits-all solutions; instead, we design products that align with the specific behaviors and expectations of our customer segments," Al-Qatami said. He added that the bank’s internal research showed Private Banking customers continue to prefer the reliability of a physical card that integrates modern digital capabilities.
Premium Benefits and Rewards:
The card belongs to the World Elite Mastercard category, providing premium perks including unlimited lounge access for the cardholder and a guest, alongside 24/7 global concierge services for luxury travel and exclusive event bookings.
The bank said the card features a competitive cashback program, among the highest in the GCC, offering up to 10% on international transactions and 5% locally. When used as a credit card, the program allows for a monthly cap of 1,000 KWD, reaching a total of 12,000 KWD annually.
Advanced Security and Digital Integration:
Sherif Elbagoury. Director (Cards Department) Retail Banking Group at Warba Bank, noted that the card provides enhanced security through two independent EMV chips, separate PINs, and distinct CVV codes.
The card experience is integrated with the Warba Bank mobile application, allowing customers to monitor transactions in real-time and activate or deactivate chips independently.
The solution reflects the bank’s focus on innovation in premium banking, combining digital capabilities with the reliability of a physical card.
About Warba Bank:
Warba Bank is a leading Islamic bank in Kuwait with a strong focus on Sharia-compliant digital banking. With one of the largest shareholder bases in the country, the bank delivers innovative financial products and services, reinforcing its position as a digital-focused institution under its slogan "Own the Future."
