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CARDS & PAYMENTS | Staff Reporter, Singapore
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Check out the newest addition to DBS' credit cards rewards programme

It's the first bank to onboard AirAsia.

With Singaporeans travelling more frequently for business and leisure, DBS Bank has observed an increasing trend of its cardmembers converting their DBS Rewards Points for air miles.

In 2013, more than 50% of DBS Rewards Points were exchanged for air miles. On average, over 90% of DBS cardmembers who are frequent travellers use their DBS Rewards Points to redeem for air miles twice annually. DBS cardmembers also prefer air miles redemption over other popular categories such as grocery, shopping and petrol vouchers.

As part of DBS’ strategy to bring greater value to its customers, it is the first bank in Singapore to onboard AirAsia, one of Asia’s leading low-cost airlines, onto its credit cards rewards programme. In addition to being able to enjoy redemption for free flights on full-service airlines, DBS cardmembers can now redeem miles for budget travel.

According to CTC Travel, a total of 8.05 million overseas trips were made out of Singapore in 2012, with 30-35% travelling by budget airlines. On average, Singapore residents make two to four overseas trips per year.

“Global travel, especially low cost travel around the region, is on the rise. However, there are limited rewards programmes for those flying with budget carriers.

As we are committed to bringing greater value to our customers, we are now extending an additional option to our customers to redeem their DBS Rewards Points on low-cost carriers as well as full-service airlines,” said Anthony Seow, Executive Director & Head, Cards and Unsecured Loans, DBS Bank.

As Singapore’s leading bank with 4.5 million customers, DBS continues to lead the way in partnering well-known brands to bring about exciting offers to cater to the discerning consumers of today.

“By leveraging on our deep consumer insights and the ability to form strategic partnerships, we have been able to lead the industry with innovative card programmes that are relevant to our customers’ lifestyle preferences,” Seow added.

DBS was the first bank in Asia Pacific to offer its credit cardmembers the flexibility and convenience of instant rewards redemption via their mobile phones. The DBS Rewards mobile app allows cardholders to redeem their rewards instantly at participating merchant partners.

Today, 80% of its cardmembers utilise the bank’s online and mobile channels to redeem their rewards. Other DBS mobile lifestyle apps, such as DBS Shopper and DBS Indulge, are also very popular among its cardmembers and have attracted over 500,000 downloads.

The partnership with AirAsia will also extend to POSB Everyday Card, which was relaunched last month with more benefits, including 2% cash rebates for overseas spend. POSB Everyday cardholders will get 3% cash rebates when they book their flights online at AirAsia.com.

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