Visa Cardholders in KSA Reaped Rewards from Special Ramadan Promotion at LULU Hypermarket

  • Visa Credit cardholders spent over SAR 7,000,000 during Ramadan promotion
  • This equates to a 35 per cent growth in spend compared to previous month, and 180 per cent increase on Ramadan 2010 

Riyadh, 16 October 2011: Visa, one of the world’s leading payment solution providers, has revealed the results of its successful partnership with LULU Hypermarket during the month of Ramadan. The offer, which ran from the 1st – 31st August, offered shoppers the chance to claim rewards on purchases made on all Visa credit cards (Classic, Gold, Platinum and Infinite) during the campaign period, resulting in a huge uplift in usage as total spend reached SAR 7,469,508 for the month.
 
The promotion was part of an initiative to raise awareness of the ease and convenience of using Visa credit cards to purchase everyday goods and was open exclusively to Visa credit cardholders when shopping at the LULU Hypermarkets at Riyadh Avenue Mall and LULU Saudi Shopping Center, as well as Khubar’s King Fahed Street.

As part of the offer, Visa credit cardholders received free LULU gift vouchers worth SAR 50 for every SAR 500 spent, with the value of the rewards increasing the more they spent, up to the value of SAR 5000 for a single transaction.

“The results of the promotion clearly demonstrate that Visa cardholders in KSA, have benefited and enjoyed this offer. Spending on Visa credit cards at LULU outlets in Saudi Arabia increased by 35 per cent compared to previous month and a significant 180 per cent growth when compared to Ramadan in 2010.” said Ahmed Gaber, Visa KSA Country Manager. “Our partnership with LULU Hypermarket and the fantastic results generated is a testament to our continuous efforts to offer our Saudi Arabian cardholders amazing experiences which they enjoy and benefit from”.

Mr. Shehim Mohammed, Regional Director form LULU Hypermarket added: “ It is commendable that Visa identified this customer reward mechanism in the month of Ramadan. Our customers have found it beneficial to get back an instant 10% on their spend while transacting during the high spend month of Ramadan. It was truly a good time to give back to society as well as a good example of CSR”

The promotion is an annual partnership with Visa and LULU Hypermarket to offer cardholders beneficial and rewarding offers during the holy month of Ramadan.

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About Visa
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

Contact:

Visa: Rawan El -Saleh, DABO & CO - Tel: +971 4 344 4901 or email: visateam@daboandco.com