HSBC LAUNCHES ON-LINE SHOPPING CAMPAIGN AIMING TO GROW CREDIT CARD SPENDING ON THE BACK OF RISING ON-LINE SHOPPERS

Stocks and Financial Services Press Releases Friday September 25, 2009 10:12
Bangkok--25 Sep--HSBC

HSBC is seeking to tap into the burgeoning on-line shopping market with the launch of "HSBC On-line Shopping Spree” campaign. Purchasing on-line gives its credit cardholders up to 5 times HSBC Reward Points and a chance to win a BlackBerry Bold 9000 mobile phone. The bank aims to grow card spending in the last quarter of the year by riding the increasing trend to shop on-line.

Wichit Phayuhanaveechai, Head of Personal Financial Services, HSBC in Thailand, said: On-line shopping presents a promising revenue opportunity for HSBC Credit Card due to its rapid growth which has continued even during the bearish economic environment. Moreover, on-line shopping promotions are likely to attract both new and existing cardholders who are younger, computer literate, have high purchasing power and busy lifestyles suited to the convenience on-line shopping provides. To maintain and consolidate our leading position in the credit card market, HSBC intends to oversee the expansion of this lucrative on-line shopping segment.

“Shopping on-line is becoming increasingly popular as customers can enjoy the convenience of 24/7 shopping, viewing the very latest arrival items and being able to compare prices of merchandise on many websites around the world on the click of a mouse. Additionally, due to the recent hike in petrol prices and the threat 2009 H1N1 influenza presents, increasing numbers of customers avoid going out to shop and are choose instead to purchase on-line from the comfort of their own home,” said Mr Wichit.

Consultancy firm, AC Nielsen, recently surveyed 26,000 Internet users across 48 markets in Europe, Asia-Pacific, North America and the Middle East. The Thai market showed 27% growth in on-line shopping over the past two years, 61% of Thai Internet users claiming they had purchased on-line. This can be mainly attributed to increasingly proactive on-line marketing strategies, greater variety of on-line products and services, more secure on-line payment methods and competitive shipping services.

To leverage this on-line shopping trend, the campaign offers its cardholders a 5 Times HSBC Reward Points privilege for every 5,000 baht purchase from leading websites, namely, Thai Airways, Air Asia, Nok Air, Tohome and vPost. Shopping at other worldwide websites, customers will earn 3 Times HSBC Reward Points.

In addition, HSBC is joining hand with Visa International to offer an additional and exclusive privilege to HSBC Visa card members – for every 1,000 Baht on-line purchase, cardholders have a chance to win one of 10 BlackBerry Bold 9000 mobile phones, including phone number and a free 6-month unlimited GPRS package. For cardholders looking for even more savings and convenience, take advantage of up to 25% discount on shipping services from vPOST. The promotion is valid from now until the end of 2009.

Research shows that air tickets and accommodation are the items HSBC cardholders purchase most on-line, followed by DVD's, books and computer hardware. So, we are confident that the launch of this e-shopping promotion in the last quarter of the year will increase credit card spending as it coincides with the onset of the holiday high-season as well as the Christmas and New Year gift-giving period.

Somboon Krobteeranon, Country Manager, Visa Thailand, said: “We are pleased to support HSBC with their push into the e-Commerce space. Consumers are aware that some of the best buys are on the Internet. Online merchants often offer attractive promotions throughout the year making online shopping not only a smart way to save money, but also a convenient way to browse a merchant’s full range of products whether at home or abroad. We encourage HSBC Visa credit cardholders to transact online and take part in the lucky draw.”

To enhance the level of security for online shopping, cardholders can register for Verified by Visa or MasterCard SecureCode service and create a personalised password. By entering the password before making payment online, cardholders will enjoy the peace of mind as they are assured that no one else can use their credit cards. For more information and registration, customers can visit www.hsbc.co.th.

Media enquiries to Varanandha Sutthapreeda on 0-2614-4609 or Savittree Muadmuang on 0-2614-4606.

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