| Ref No: 29/2005
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 Card’s 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. We’re 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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