Standard Chartered SingPost Co-brand Credit Card offers first-in-market Online Price Guarantee and 7% CashBack for online purchases

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1 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. 1

2 According 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 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. 2

3 when 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 or visit standardchartered.com.sg/singpostcard. - End - For more information, please contact: Lim Siow Joo Corporate & Business Communications Standard Chartered Bank Phone: 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 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. 3

4 The Bank's global business is managed out of Singapore, as is its global Technology & Operations function. About Singapore Post Limited (Reg. No M) 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 ~~~~~~~~~~ 4

5 Standard 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. 5

6 CashBack* Offer on the Card Simply charge S$500 and above to your card each month to enjoy 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 Standard Chartered Cardholder Live The Good Life TM every day Discover over 1,000 great deals islandwide from dining offers to shopping, 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

7 *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. 7