Illustrating Indian banks’ new focus on high-income individuals for their credit card business, holders of premium credit cards issued by Standard Chartered India Pvt. Ltd. may accrue extra “Bonus Points” besides the regular rewards points they earn when making purchases in India.
The issuer is offering the added benefits through a deal it signed June 2 with Pinpoint India Pvt. Ltd. Pinpoint India is part of the Australia-based Pinpoint Group that has developed loyalty programs for more than 20 banks in Australia, New Zealand, Taiwan, and China and now India. Pinpoint offers its services to with more than 50 million cardholders and more than 20,000 merchants across the Asia Pacific.
Holders of Standard Chartered’s premium credit cards automatically earn bonus points each time they use their credit card to shop at participating merchants. For example, when using their cards at Leela Palaces and Hotels, cardholders receive five more points than the three they normally would get per 100 rupees (US$2.19 or 1.54 euros) of spending.
Participating merchants also include electronics retailer Croma, telecommunication operator Vodafone, Marriott Hotels, and super luxury stores such as shoemaker Jimmy Choo and bag shop Bottega Veneta.
Cardholders also may earn bonus points when shopping at various local merchants such as optometrists, beauty salons, boutiques, florists, jewelers, bookstores and restaurants.
Cardholders may redeem their reward points for gifts and vouchers offered under the program, a customer service official for the bank told PaymentsSource in an interview. The bonus offer is part of a permanent addition for the premium cards, but the bank has no immediate plans to expand it to other card types in India.
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