Kuwait Finance House (KFH) has won the “International Volume Growth Cross Border 2015” award from MasterCard for demonstrating outstanding performance in promoting innovative electronic payment solutions. This is in continuation of an award received last year from MasterCard for “Outstanding Performance”.

The award was presented to the bank by Raghu Malhotra, President, Middle East and Africa, MasterCard, at a ceremony held recently in Kuwait, which was attended by KFH’s executive team including Mohammed Nasser Al-Fouzan, Consultant to Group Chief Executive Officer; David Power, Group Chief Retail and Private Banking Officer; and Julio Lobo, Group Deputy General Manager Cards.

Lauding KFH for its efforts in promoting payment cards usage locally and worldwide, Raghu Malhotra said, “KFH has demonstrated a consistent keenness for embracing the latest technology and innovation in the world of payments, backed by a robust commitment to bring the benefits of cashless payments to consumers across Kuwait through targeted marketing and customer outreach programs.”

Noting that the world is fast moving towards a digital future, Malhotra said that KFH has a proven track record in driving electronic payments adoption in Kuwait. “KFH has launched a plethora of innovative marketing campaigns aimed at encouraging customers to use their electronic payment cards when making purchases locally or overseas,” he added.

Meanwhile, Consultant to Group Chief Executive Officer at KFH Mohammad Nasser Al-Fouzan said that the award from MasterCard confirms the efficacy of KFH’s products and services in line with the latest technology. He said, “KFH spares no effort to keep up with the evolution of payment technology and is committed to employing every available innovation to further the interests of the bank and its customers. Technology is a key pillar for our growth and plays an important role in providing us with the ability to optimally serve our customers and deliver services that match the highest international standards in terms of speed, security and accuracy.”

He added that it is part of KFH’s strategy to support the needs of retail businesses while enabling customers to conduct all their transactions online.

For his part, David Power, Group Chief Retail and Private Banking Officer stressed KFH’s keenness to continuously reinforce the value of its banking cards and utilize technology to more efficiently meet changing client requirements. He added that KFH is delighted to continue its collaboration with MasterCard to jointly explore innovative solutions that deliver a superior payment experience for customers.

He continued, “KFH prepaid and credit cards allow customers to enjoy unprecedented discounts and benefit from a nation-wide banking network, not to mention 24/7 service and support. With KFH, credit and prepaid cardholders enjoy 3D Secure for safe and secure online transactions, as well as other features such as SMS service and E-statements for cards.

It is worth noting that the criteria of awarding KFH is based on the volume growth of KFH cards usage cross border, embracing the latest technology and innovation in the world of payments and the efficacy of KFH’s products and services in line with the latest technology.