U by Emaar, the loyalty program of Dubai developer Emaar, has signed a 10-year partnership with Visa to launch a co-branded credit card for premium customers in the UAE, Saudi Arabia and Bahrain.
The card will let holders earn and redeem UPoints across participating Emaar hotels, restaurants, entertainment venues and retail destinations, according to a statement carried by Gulf Daily News on Tuesday. Financial terms were not disclosed.
The program targets premium, high-net-worth and ultra-high-net-worth customers. It will offer tiered cards, with an invite-only tier planned for selected customers.
Visa will integrate its payments network with the U by Emaar app and loyalty platform. Card-linking technology and application programming interfaces will support real-time earning and redemption of points.
Visa Consulting and Analytics will provide data to support customer acquisition and portfolio performance, the statement said.
The partners said the agreement was structured so it could expand to additional markets.
“This is not simply a co-branded card, it is a holistic, decade-long commitment,” said Hakan Keskin, head of hospitality at Emaar Hospitality Group.
Devendar Agarwal, Visa’s head of global clients, tech partners and merchant business and GCC acceptance for Central and Eastern Europe, Middle East and Africa, said the deal combined Visa’s payments technology with “a leading lifestyle ecosystem.”
