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CARDS & PAYMENTS | Staff Reporter, Malaysia

RHB unveils commercial card line for SMEs and corporates

The RHB Purchasing Charge Card-i is a Shariah compliant charge card.

RHB Banking Group has unveiled new commercial card offerings for conventional and Islamic needs namely the RHB Corporate Credit Card/ Card-i, RHB Corporate Charge Card /Card-i and RHB Purchasing Charge Card/Card-i in line with the central bank’s cashless campaign.

Also readRHB's net profit climbed 18.2% to $570m in 2018

For instance, the RHB Purchasing Charge Card-i provides a Shariah compliant charge card for businesses with the benefits of a conventional RHB Purchasing Charge Card. The card is based on the Shariah concept of Ujrah where the payment of a service fee is in exchange for services, privileges and benefits rendered to a business.

With the RHB Commercial Card/Card-i, businesses can enjoy a range of rewards to optimise financial resources and manage cash flow. The card offers clients unlimited 1% cash-back on overseas retail transactions and unlimited 0.5% cash-back on select domestic retail transactions.

“Through this offering, we aim to empower SMEs with the ability to better manage financial resources and expand their businesses beyond borders,” Nazri Othman, Acting Head, Group Retail Banking, RHB Banking Group said in a statement.

Also readRHB Bank Berhad unveils mobile banking app for business clients

The bank aims to issue a total of 78,000 new cards over the next five years to its SME and corporate client pool.

“The cards will also drive greater efficiency on purchase processes and spending as well as effectively managing procure-to-pay processes, and eliminating cheques and paper invoices for SME and corporate clients spanning local and global spending,” the bank said in a statement. 

In conjunction with the launch, RHB Commercial Card/Card-i members will enjoy additional 2,000 Grab Reward Points when travelling to any local airports with Grab whilst businesses will receive additional 0.5% cash-back on all agreed premium with RHB Insurance.  

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