DBS LAUNCHES THE EVERYDAY CARD TO MEET EVERYDAY NEEDS
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Members earn cash rebates when using card to pay for daily necessities
SINGAPORE, September 29, 2005 – DBS today launched the POSB
Everyday Card (储蓄银行日惠卡) that allows Singaporeans to pay for their
daily expenses and earn cash rebates at the same time.
The new card reinforces POSB as a brand that offers simple yet
effective banking solutions and DBS’ position as the leading
credit card issuer in Singapore.
With the POSB Everyday Card, card members earn cash rebates while
using it to pay for living essentials such as groceries, utilities,
petrol and transportation, mobile phone or cable charges. They can
then use these rebates to offset their subsequent payments with
the card.
POSB Everyday Card has a few main partners that offer basic necessities
and services. They are: Carrefour Singapore; ComfortDelGro; StarHub;
Singapore Petroleum (SPC) and SP Services.
Carrefour is an international supermarket brand name that runs
hypermarkets at Suntec City and Plaza Singapura respectively. ComfortDelGro
is one of the world’s leading land transport companies and
boasts a fleet of more than 17,000 taxis here. Starhub offers info-communication
and entertainment services over fixed, cable, mobile and Internet
platforms. SPC, a regional oil and gas company, has 39 petrol stations
located throughout the island, while SP Services, part of the Singapore
Power Group, provides basic utilities in Singapore.
With cash rebates of as much as 20% of the retail price, POSB Everyday
Card members can save money while paying for these services using
one card. They earn "Daily$", which can be used to instantly
offset subsequent bills and purchases. Cardholders can redeem these
"Daily$", equal to $1, at over 300 outlets of a total
of 30 chain merchants. Apart from the key partners mentioned above,
participating merchants include household brands like Courts, Bengawan
Solo and Singapore Zoological Gardens.
Edmund Koh (许健洲), Managing Director and Head of DBS Singapore
Consumer Banking Group, said the partners were chosen because they
complement POSB Everyday Cards aim to be an indispensable card
for everyone.
"What are some of the basic needs of a Singaporean?"
he added. "They probably include food for the family table,
hot water and electricity, a mobile phone, internet access, cable
television and petrol for the car. Were trying to make life
easier for our customers by having a card where they can consolidate
all their payments for their everyday needs.
"We are confident this card will do well not just for POSB
customers, but for all Singaporeans. Because no matter what your
income level is, everyone still has
the same day-to-day basic expenses. And the easier you settle these
daily bills, the better."
Raymond Ang (洪丁祥), Managing Director and Head of DBS Cards and
Unsecured Loans, Consumer Banking Group Singapore, said that cash
rebates from the use of the POSB Everyday Card are much more exciting
and meaningful to the customers because they translate into real
savings on their transactions.
He added: "There’s no confusion over points. This is
instant, real-dollar savings. Our research has shown that many Singaporeans
will welcome a card that offers great savings and is so relevant
to their fundamental needs.
"The POSB Everyday Card is a must-have in everyone's wallet
because it’s something they’ll use everyday."
As part of the launch promotion, successful applicants - who must
have a minimum annual income of $30,000 - will enjoy a one-year
waiver of the annual fee and two free supplementary cards. In addition,
upon approval of their cards, owners will enjoy a variety of perks,
such as free upsizing of popcorn combo sets at Cathay cinemas and
one-for-one meal vouchers.
POSB Everyday Card holders will also enjoy the existing benefits
available to all DBS credit card holders, such as the 0% Interest
Instalment Plan, special rates for balance transfers and subscription
to the DBS-enhanced CardShield protection plan.
DBS Bank is a leading credit card issuer in Singapore and Hong
Kong with more than 1.8 million cards issued. Over the last three
years, DBS has strategically launched several credit cards targeting
specific niche segments. This includes the DBS mc2 MasterCard, which
targets the young and trendy.
In October 2003, DBS launched the popular DBS Black Card for the
emerging affluent and upwardly mobile professionals who qualify
for the gold card but want something more appealing and rewarding
to meet their lifestyle needs.
In May 2004, DBS launched the popular DBS Woman’s Card for
affluent, contemporary female professionals who have a greater propensity
to spend on themselves and their families.
To further cement the bank’s position as Singapore’s
leading card issuer, DBS has also issued out 280,000 POSB MasterCard
credit and debit cards here.
About DBS
Headquartered in Singapore, DBS is one of the largest financial
services groups in Asia. The largest bank in Singapore and the fifth
largest banking group in Hong Kong as measured by assets, DBS has
leading positions in consumer banking, treasury and markets, asset
management, securities brokerage, equity and debt fund raising.
Beyond the anchor markets of Singapore and Hong Kong, DBS serves
corporate, institutional and retail customers through its operations
in Thailand, Malaysia, Indonesia, India and The Philippines. In
China, the bank has branches and representative offices in Shanghai,
Beijing, Guangzhou, Shenzhen, Fuzhou, Tianjin and Dongguan. The
Bank's credit ratings are one of the highest among banks competing
in the Asia-Pacific region, and the highest among banks in Singapore.
POSB is the mass-market consumer segment under DBS and has 54 branches.
More information about DBS Group Holdings and DBS Bank can be obtained
from our website www.dbs.com.
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