ComPass loyalty credit card gains benefits of EMV
DBS Bank of Hong Kong has chosen and started implementing the VeriFone Vx510 payment terminal for its enhanced 'ComPass Visa' co-branded credit card, which it offers jointly with Hutchison Whampoa.
The ComPass Visa card programme, which celebrated its 10th anniversary in 2005, has engaged VeriFone to enhance its acceptance infrastructure to provide EMV and multi-application features for cardholders.
Consumer benefits The new ComPass smart card, originally launched in 1995 and relaunched in June 2006 to adopt the EMV standard, uses its chip to help prevent counterfeit cards and fraud, and provides a loyalty programme that rewards cardholders based on their buying preferences.
The card's loyalty programme offers cardholders instant cash rebates at supermarkets, healthcare chain stores, telecommunications shops, electrical appliances retailers and fuel retailers throughout Hong Kong,
Merchant benefits The system also allows merchants to customise their individual marketing initiatives to target specific cardholders. Some 5,000 VeriFone Vx510 payment systems are to be deployed throughout Hong Kong, including large retail chains such as Park N Shop.
These terminal installations are part of DBS Bank's phased programme to upgrade ComPass Visa cards for its 500,000+ cardholders.
According to William Nichols, VeriFone's vice president of emerging markets & international marketing, VeriFone has also recently expanded its presence in the Asia Pacific region with an international headquarters in Singapore, and expanded R&D infrastructure in Manila, India, China and Singapore.
For additional information: · Visit DBS Bank at http://www.dbs.com · Visit VeriFone at http://www.verifone.com