Bank Muscat has teamed up with Abu Dhabi-based LuLu Hypermarket to roll out a new retail co-branded card in Oman.

Known as LuLu Bank Muscat MasterCard, the new card provides a range of benefits and advantages including rewards on all transactions as well as exclusive check-out counters at all LuLu outlets in Oman.

The other benefits include discounts and special offers for customers at LuLu Hypermarket, travel insurance, extended warranty and customer protection.

In addition, LuLu Bank Muscat credit cardholders can gain points for every card transaction.

Customers will receive 2% of the total transaction amount back in points for every transaction done at LuLu outlets in Oman and 0.5% back in points for any transaction done elsewhere.

However, cash withdrawal transactions will not be eligible for earning points.

With an annual fee of OMR10 ($25.9) and minimum monthly salary eligibility of OMR250 ($649.3), the card is a value-added package that provides a rewarding experience and also offers attractive benefits on all transactions for customers.

The points can be redeemed for a minimum amount of OMR5 ($12.9) and in multiples of OMR5. These redeemed points will be credited to the primary account.

Bank Muscat AGM for cards & eBanking Tariq Atiq said: "The initiative is a fine example of co-operation between companies aimed at serving customers with niche products and services. The new card encourages electronic payment ensuring convenience and security."