STANDARD CHARTERED SINGPOST CO-BRAND CREDIT CARD OFFERS FIRST-IN-MARKET ONLINE PRICE GUARANTEE AND 7% CASHBACK FOR ONLINE PURCHASES
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Standard Chartered SingPost Co-brand Credit Card offers
first-in-market Online Price Guarantee and
7% CashBack for online purchases
Enhanced card features give online shoppers peace of mind
5 February 2015, Singapore – Standard Chartered Bank (Singapore) Limited (the Bank) and
SingPost today announced new enhancements to the Standard Chartered SingPost Platinum
Visa Credit Card to meet the growing appetite for online shopping and give customers peace of
mind during the entire process of shopping online.
Launched in 2012 as SingPost’s first co-brand credit card, it was specially designed to cater to
the needs of online and supermarket shoppers. The refreshed SingPost Platinum Visa Credit
Card is the best online shopping card in Singapore. It is the first in the market to provide an
“Online Price Guarantee” 1 whereby the Bank is committed to refund 50% of the price difference
should the Cardholder find a better deal online after purchase. In addition, it offers 7%
Cashback on online purchases 2 (the highest CashBack for online purchases in Singapore), and
cardholders enjoy free vCare insurance worth up to US$250 3 when they pay for their vPost
shipments. On top of this, the Bank also offers “Card Safe Guarantee” to protect Cardholders
from fraudulent and unauthorised transactions.
1
The item with the lower price must be exactly the same (in terms of size, make, model number, manufacturer, etc)
as the item a cardholder has bought online using the Standard Chartered SingPost Platinum Visa Credit. The second
item must also be discovered from the Internet within 30 days of the date of the online purchase. Other terms and
conditions apply.
2
Cardholders can enjoy CashBack of up to S$50 per month as long as they achieve the minimum card spend of
S$500 on the card in the statement month.
3
Free vCare insurance applies automatically to Cardholders using vPost shipping service and the limit of liability of
each package is US$250, subject to applicable terms and conditions.
1According to the Bank’s research on its customers’ spending patterns, 30% of total card spend
is on online transactions and around a quarter at supermarkets. Research 4 shows that online
shopping in Singapore is expected to hit the S$4.4 billion mark in 2015 from S$1.4 billion in
2011. Therefore, the Bank boosted the card’s features and offerings to reward and cater to
customers’ increasing appetite for online shopping, at the same time, ensure that at each step
of the way, customers’ purchases and transactions are safe and secure.
Sandhya Devanathan, Managing Director and Head of Retail Products, Singapore, Standard
Chartered Bank (Singapore) Limited said:
“Customer-centricity and innovation is at the heart of what we do at Standard Chartered.
We are delighted that we could build on this partnership with SingPost to enhance the
features of the card to enable customers to enjoy the entire online shopping experience
with peace of mind. When a customer purchases an item online, we want to reward
them, hence the 7% CashBack. We also want our customers to get the best value,
which is why we have introduced the ‘Online Price Guarantee’. In addition, with our
‘Card Safe Guarantee’, customers know that they are protected from fraudulent and
unauthorised transactions. When the items are shipped, customers also enjoy free
vCare insurance worth up to US$250 when they pay for their vPost shipments.”
SingPost’s Senior Vice President for Financial Services, Ms Marjorie Ooi said:
“Online shopping is a fast growing trend and a global survey 5 showed that 69% of
Singaporeans conducted research online before making a purchase. Centering on the
needs of online shoppers, we work with Standard Chartered to customise and
strengthen the unique proposition of our co-brand card. The customisation of the
Standard Chartered SingPost Platinum Visa Credit Card aligns with SingPost’s focus
and our intensifying efforts to serve the growing ecommerce needs. The new ‘Online
Price Guarantee’ and the digital features of our co-brand card deliver the best possible
value to our customers. We believe savvy online shoppers would find our co-brand card
an innovative and great way to enjoy more savings and rewards.”
Cardholders buying items from overseas also have more reasons to cheer. In addition to the
free vCare insurance worth up to USS$250 when customers pay for their vPost shipments using
Standard Chartered SingPost Platinum Visa Credit Card, they can enjoy 30% off their first vPost
shipment and 20% off subsequent shipments. Cardholders can also enjoy attractive discounts
4
Source: Paypal eCommerce Research
5
Source: “Consumer Barometer 2014” Survey by TNS Infratest.
2when they make online purchases on omigo.com.sg or access to other SingPost’s products and
services such as SmartPac, Speedpost Priority Service and self-storage services.
The first 1,000 customers to apply for the SingPost Platinum Visa Credit Card can get S$120
worth of vPost and Omigo vouchers. Those who already have a Standard Chartered credit card
can also apply for the SingPost Platinum Visa Credit Card and receive S$40 worth of vPost and
Omigo vouchers.
For more information, call 1800 788 3133 or visit standardchartered.com.sg/singpostcard.
- End -
For more information, please contact:
Lim Siow Joo
Corporate & Business Communications
Standard Chartered Bank
Phone: 6596 7759
Email: siow-joo.lim@sc.com
Note to Editor:
About Standard Chartered Singapore
Standard Chartered in Singapore is part of an international banking group with more than
86,000 employees and a 150-year history in some of the world's dynamic markets.
We bank the people and companies driving investment, trade and the creation of wealth across
Asia, Africa and the Middle East, where we earn around 90 per cent of our income and profits.
Our heritage and values are expressed in our brand promise, Here for good.
Standard Chartered has a history of 155 years in Singapore, opening its first branch here in
1859 and in October 1999 was among the first international banks to receive a Qualifying Full
Bank (QFB) license, an endorsement of the Group's long-standing commitment to its
businesses in the country.
The Bank transferred its Singapore Retail and SME business to a locally-incorporated
subsidiary, Standard Chartered Bank (Singapore) Limited ("SCBSL") on 7 October 2013. After
the transfer, all banking services offered to retail and SME clients, particularly deposit taking,
wealth management services, overdrafts, personal loans, credit cards, auto financing, and
mortgages, are offered by SCBSL.
The Bank offers corporate and institutional clients services in trade finance, cash management,
lending, securities services, foreign exchange, debt capital markets and corporate finance. The
Bank also provides private banking services through its private banking division.
The Bank employs around 7,000 people in Singapore and has a network of 19 branches, 7
Priority Banking centres and 32 ATMs.
3The Bank's global business is managed out of Singapore, as is its global Technology &
Operations function.
About Singapore Post Limited
(Reg. No. 199201623M)
Singapore Post (SingPost) is the leading provider of mail, logistics and ecommerce solutions in
Singapore and the Asia Pacific region, with operations in more than 10 countries.
As Singapore’s national postal service provider, SingPost offers trusted communications
through domestic and international postal services as well as end-to-end integrated mail
solutions covering secure data printing, letter-shopping, delivery and mailroom management,
among others. For over 150 years, SingPost has been delivering a trusted and reliable service
to citizens, residents, corporations and businesses in Singapore.
As part of its transformation, SingPost has been steadily expanding beyond Singapore,
leveraging its regional platform Quantium Solutions and other subsidiaries and partners. With
its regional network and infrastructure, SingPost offers fully integrated ecommerce logistics
solutions covering the four areas of freight, customs & regulations management, warehousing &
fulfilment, last mile delivery & returns as well as ecommerce web services, to its customers.
SingPost won the World Mail Award for ecommerce in June 2014 and was ranked the top postal
agency in the world in an Accenture report. SingPost also gained international acclaim when it
was bestowed the Service Provider of the Year 2014 award by Postal Technology International.
SingPost is the only company to win to the Universal Postal Union’s EMS Cooperative award for
its Speedpost courier service every year since 2001.
~~~~~~~~~~
4Standard Chartered SingPost Platinum Visa Credit Card Fact Sheet
Name of Credit Card: Standard Chartered SingPost Platinum Visa Credit Card
Unique Value Proposition Shop online with the card that delivers more
:
The new Standard Chartered SingPost Platinum Visa Credit Card lets you
enjoy shopping online with various discounts, as well as CashBack* on
your eligible online and supermarkets purchases.
In addition, cardholders enjoy the following:
Online Price Guarantee
Any new online purchase paid entirely with a SingPost Platinum Visa
Credit Card will be eligible for a 50% refund of the price difference if the
item is available at a lower price online within 30 calendar days from the
date of purchase. Claim is capped at S$250 per item and up to S$1,000 per
customer.
vCare (provided by vPost)
Your vPost shipment paid for using your Standard Chartered SingPost
Platinum Visa Credit Card is covered by free vCare insurance worth up to
US$250. vCare Terms and Conditions apply.
Card Safe Gaurantee
Protect yourself from unauthorised transactions when you shop online with
your Standard Chartered SingPost Platinum Visa Credit Card.
5CashBack* Offer on the Simply charge S$500 and above to your card each month to enjoy
Card CashBack (up to S$50) on any of the following:
• 7% CashBack for eligible online transactions
• 6% CashBack on purchase at supermarkets in Singapore assigned
with merchant category code number 5411, including Cold Storage,
Marketplace, Shop N Save, NTUC Fair Price, Giant and Carrefour
(Till 30 June 2015)
• 0.25% CashBack on other eligible retail purchases (Till 30 June
2015)
Discounts at vPost† • 30% off First Shipment (for new vPost customers)
• 20% off Subsequent Shipments
Discounts at Omigo† • $20 off 1st purchase price for new Omigo.com.sg customers
(minimum spend of $80 is required)
• 15% off storewide for purchases on omigo.com.sg.
Discounts at SingPost† • 10% off Speedpost Priority Service (Package)
• 5% off SmartPac (minimum three pieces)
• 25% off Self Storage Solutions
• 10% off Thematic MyStamp Collections and Premium Gifts
Additional benefits as a Live The Good LifeTM every day
Standard Chartered Discover over 1,000 great deals islandwide from dining offers to shopping,
Cardholder travel and lifestyle benefits.
Bank on-the-go with Breeze
Breeze is mobile banking made easy. Now available on iPhone, iPad and
Android mobile phones.
24/7 Online Banking
Make payment to over 360 participating billing organisations as well as
view account information and perform funds transfers with our Online
Banking services.
Annual Fees • S$180; waived for the first 2 years for principal card
• All supplementary cards are free for life; up to 5 supplementary cards
allowed
6*Summarised version of Standard Chartered SingPost Platinum Visa Credit Card Terms and Conditions
1. To qualify for CashBack for any month, you must charge a minimum amount of S$500 to the Standard Chartered SingPost Platinum
Visa Credit Card within that statement month (“Minimum Card Spend”). Maximum CashBack awarded for any month is capped at
S$50 per principal card account. CashBack accrued for any statement month will be reflected and credited to the principal card
account in the next month’s statement.
2. You can earn CashBack of (a) 6% on purchase at any supermarket in Singapore assigned with merchant category code number 5411,
(b) 7% on any online transaction identified by us as an online transaction based on codes assigned by Visa, (c) 7% on purchase at
vPOST, and (d) 0.25% on other retail purchase that is not excluded as a Qualifying Retail Transaction (collectively, “Qualifying
Retail Transactions”).
3. The following will not qualify as Qualifying Retail Transactions, and/or be taken into consideration when determining if the
Minimum Card Spend has been fulfilled: (a) cash advance, (b) fees and charges, (c) balance or funds transfer, (d) monthly instalment
of an EasyPay transaction, (e) any amount charged to your card that is subsequently cancelled, voided, refunded or reversed, (f)
recurring payments or payments made using Standard Chartered Online Banking, (g) AXS or ATM transactions, (h) amounts rolled
over from preceding months’ statements, and (i) any other charge, fee, transaction or payment as we may stipulate from time to time.
4. Card spend made by you and your supplementary cardholders will be counted towards fulfilment of the Minimum Card Spend and/or
qualify to accrue CashBack on the principal card account. However, supplementary cardholders are not eligible to receive the
CashBack.
5. CashBack awarded on Qualifying Retail Transactions is based on the dates when these transactions were posted to your SingPost
card account (and your supplementary cardholder’s SingPost card account (if applicable)). Minimum Card Spend is considered
fulfilled for any month if the transactions relating to such Minimum Card Spend were posted to your SingPost card account (and
your supplementary cardholder’s SingPost card account (if applicable)) before the end of that month.
6. We may at any time vary, revise or change any terms and conditions at our sole discretion.
Standard Chartered SingPost Platinum Visa Credit Card. Terms and Conditions apply. Please also read our Customer Terms, Credit Card
Terms, and Important Information Document issued for this product. Visit our website for the full terms and conditions and the CashBack
mechanics.
†Summarised Version of vPost, and SingPost Terms and Conditions
1. All stated vPost discounts are valid only for vPostUSA, vPostEurope, vPostJapan and vPostChina shipments, excluding fuel
surcharges.
2. SingPost discounts: The 25% off Self Storage Solutions discount is only applicable to the payment of rental charges and is not valid
for any other purchases or charges. The 10% off Speedpost Priority Service (Package) discount is only valid for international postage
rates. The 5% off SmartPac discount is subject to a minimum order of three pieces.
Please visit our website and the respective merchant’s website for the full Terms and Conditions.
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