KT Bank AG
Product / Service Description:
Jetzz Card (by KT Bank AG), Germany’s first automated instalment card, based on the Debit Mastercard, offers financial freedom in an instant and an innovative, low-priced fixed monthly instalment solution for card transactions from EUR 50 upwards in stores and online. Retail clients credit limit: up to EUR 25,000, corporate clients: up to EUR 100,000. The credit line is used automatically with every payment. Jetzz Card offers time-saving fund utilization simplifying instalment shopping: Repeated loan applications are in the past. Jetzz Card provides ethical purchase criteria. Certain industries are being technically excluded by a negative list via Merchant Category Code classifications.
Product / service innovations in the last 12 months
Start of a cooperation with a FinTech establishing new products.
Development of technological infrastructure and digital services: launch of mobile banking app.
Transnational client services based on synergies with our mother group: euro account services for institutional clients and remittances to accounts at the mother bank in Turkey for a service charge of 1 euro.
Establishing a scientific base by organization of the 1st International Conference on Faith & Finance in Germany.
What is the difference between competitive solutions?
As KT Bank AG is the first and only bank in Germany with Islam-compliant, ethical business model, the new payment method Jetzz Card features fixed financing instead of interest rates: Whereas conventional overdraft facilities and revolving credit cards are not Islamic-compliant due to the interest on the remaining balance, Jetzz Card functions according to the principles of a classical trade: The bank purchases moveable goods and resells them to the client with a fixed profit markup. Thus, Jetzz Card offers an attractive alternative to a conventional instalment credit – not only for Muslims, but for all clients interested in a cost-effective and flexible instalment solution.
Jetzz Card offers the highest security standards, a chip from the newest generation, contactless payments and automated handling and administration. The online card application can be processed quickly and easily via VideoIdent.
The client is informed about the respective transactions via SMS straight after the purchase and monthly via reader-friendly account statement.
The individual credit limit can be simultaneously accessed with a partner card.