Standard Chartered Bank (Vietnam) Limited has won the Visa Leadership award in Issuing Innovation for its Cash Back programme in Vietnam.
Standard Chartered is the first bank in Vietnam to launch Cash Back programme which spurred customer usage and was welcomed by customers as an exciting change from other ‘gift’ promotions. The programme allows customers to get “5 per cent cash back” with every purchase made at any Point of Sales (POS) or online, hence helping to pay to reduce the effective cost of purchase for customers.
Customers have reacted favourably to this promotion with spending going up three times and number of customers using card going up two times. More card usage means less cash to carry for customer which is safer and more convenient.
Standard Chartered will continue to offer interesting promotions to customers as a regular feature. Currently it is running 5 per cent Cash Back on all purchases in The Garden Shopping Centre from April 7 to May 6 and will soon launch one more cash back offer.
Amit Arora, country head of Consumer Banking of Standard Chartered Bank (Vietnam) Limited said: “The 5 per cent Cash Back promotion is part of our effort in bringing the most innovative product and programs to our customers. We will continue to keep bringing offers which will benefit and excite our customers.”
“Receiving this award is another testament to our strong progress in delivering our commitment to our customers, reaffirming our industry leadership and highlights the potential of growth through innovation.”