India based jewelry chain, Kalyan Jewelers entered into a partnership with a local bank in UAE to announce the launch of a co-branded credit card. This way, Kalyan Jewelers has become the first one in the country to provide ‘Goldback’ for purchases. Notably, the Rakbank Kalyan Jewelers MasterCard Credit Card can be used for purchases and cash withdrawals anywhere across the world.
Well, the new Mastercard Credit Card will offer goldback loyalty points for customers on all their shopping, be it local or international. Those who use the card at Kalyan Jewelry outlets inIndiacan earn better returns up to seven percent. On purchasing jewelry at the Kalyan store outlets in UAE, the customers earn 4.5 percent points and other local purchases will receive three percent goldback. These loyalty points can be redeemed at any of the Kalyan Jeweler outlets in UAE as jewelry.
The Rakbank Kalyan Jewelers MasterCard Credit Card provides zero percent easy payment plans on diamond and gold jewelry purchases that are estimated with a value of Dhs 1,000 and higher at those stores in the country. Also, Customers can pay for their gold and diamond purchases on installments ranging over a period of three months for gold and six months for diamond products.
Notably, this is the first and only credit card to provide gold returns in UAE. Other than these loyalty points and zero percent easy payment options, users of Rakbannk Titanium credit card can avail other benefits such as life, travel and insurance advantages and lifestyle privileges, added Peter England, Rakbank’s CEO.
The existing Kalyan Jewelers customers in the region can benefit from this credit card as they can collect goldback from other purchases and redeem the loyalty points at Kalyan outlets.
Kalyan Jewelers is one among the largest jewelry manufacturers and distributors inIndiaand it started operations in the Gulf Cooperation Council (GCC) region in December 2013.
Regarding this new innovative approach, TS Kalyanaraman, Chairman and Managing Director at Kalyan Jewelers said that the firm’s new service will is customer centric and that it enables them to spend to acquire jewelry with Goldback points.