Barclays Bank to launch platinum card

Correspondent | Friday October 5, 2012 00:00

The bank's lending director, Sanjay Abraham said the card aims to cater for the specific needs of this segment of the market. Those in the targeted market generally travel a lot and the card is intended to be a convenient tool for the frequent business traveller. Abraham explained that the card is loaded with features that make it a convenient 'travel partner' in Botswana and internationally.

'We have tied up with the best premier airport lounges, including OR Tambo Airport, to allow the Platinum Card holder to eat, drink and shower for free in these lounges,' Abraham said.He said at the time of joining, the bank will issue two vouchers to card-owners to be used to gain access to the exclusive lounges. 'We are issuing two vouchers,  not one, because a lot of times when people travel on business, they travel with someone and we want the travel companion to be catered for as well,' Abraham explained. The card qualifies the holder for the bank's World Miles programme, through which every purchase made using the Platinum Card accumulates points which can be redeemed for an air ticket, car rental or hotel payments worldwide with any airline, car rental or hotel anywhere.  'Common loyalty programmes are specific to a specific airline but this one can be redeemed on any airline, and it is the first in Botswana,' Abraham explained.

Locally, the card entitles the holder to benefits that include medical and roadside emergency assistance. As a growing number of countries require visitors to be insured, all tickets bought with the card will be covered under travel insurance, with benefits that include overseas medical repatriation and emergency medical cover abroad.

'We have included the features that are already on our existing cards into the Platinum Card and increased the benefits,' Abraham said. The Platinum Card is set to be launched in September.  It will be issued by invitation only. Abraham explained that this is because it is an aspirational card and it requires a customer who fits a certain profile.  He said Barclays Bank has taken a deliberate decision to focus on Botswana's growing high net worth population, and create loyalty for the bank within this section of the market.

'By introducing the Platinum Card we are saying that wealth has been created in this country, and as a bank our job is to support avenues of growing this wealth.   We want to take care of the banking needs of high net worth customers, and that extends to their assets and liability needs as well,' Abraham stated.