Beirut, Lebanon – 26 July, 2016: Visa Inc. (NYSE:V), a global payments technology company, announced today an exclusive partnership for its cardholders in Lebanon, offering 3% cashback on fuel purchases at Medco and Phoenicia gas stations.
100% of Visa issuers in Lebanon have confirmed participation, whilst the offer will be available at all 200 Medco and Phoenicia service stations throughout the country. All Medco and Phoenicia gas station have been branded in partnership with Visa.
The offer will begin on Monday 1st August and last for three months. Cashback will be paid to cardholders by their issuing banks at the end of the campaign.
As the exclusive partner of Medco in Lebanon for three months, Visa will be at the forefront of driving electronic payments at gas stations, in an effort to encourage new channels of card acceptance for everyday purchases.
Ramzi Saboury, Visa Country Manager for Lebanon & Iraq, said: “Visa is delighted to partner with Medco to launch the exclusive Visa cashback campaign for the first time ever, allowing Visa cardholders in Lebanon the chance to claim back 3% of their gas purchases at Medco and Phoenicia gas stations until November.
“Visa believes in rewarding loyalty through innovative campaigns that enhance the lifestyle of cardholders, by offering discounts on something as important as fuel. We
hope that it stimulates electronic payments in a segment that is accustomed to cash, and in turn encourages the drive towards a cashless society.”
Michèle Chammas Garzouzi, Group Marketing and Retail Sales Director, said: “MEDCO celebrates its partnership with VISA as the ‘chemistry’ and synergy between the two Leaders creates value for the Lebanese motorist. Pay your Gas at MEDCO and Phoenicia with your VISA card, from any Bank and get 3% cashback is a 3 in 1 hit as it offers welcomed savings, convenience and accessibility.
The Program also covers our Medmart and Calmart convenience stores so consumers can benefit from cash back on Kcal too!
1st petroleum network to honor VISA, proprietary fuel smart Liters Plus, prepaid, NGO and loyalty cards in Lebanon, MEDCO proudly focuses its positive energy to constantly introduce innovative products, services and programs to offer Quality with an edge to fill Consumers’ needs, with a You First! pledge”.
A press event was held on 26th July, where a Visa and Medco branded bus transported journalists through Beirut, stopping at Medco gas stations around the city to demonstrate the campaign.
To be eligible for cashback, there is a transaction limit of 150,000 LBP and a cashback cap of 75,000 LBP per cardholder during the campaign.