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| Tuesday, 29 June 2004 |
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HSBC's 129,000 credit cards-largest market share "The Hong Kong and Shanghai Banking Corporation (HSBC), has the largest market share in credit cards, which now stands at 129,000 cards" HSBC Manager, Card Centre, Sarit G. Wijeyekoon, told the Daily News last Wednesday. There are approximately 400,000 credit cards in use of which HSBC commands a user base of 31% which indicates not merely the number of cards distributed, but actively used for real transactions, he said. This means that in the growing credit card market the user base accessed by end users carrying the HSBC card are at the 50% level of actual transactions. According to monitored data carried out by them, HSBC could now be assured of a loyalty segment in their card user sector which is expanding. "This may not sound quite that sensational but our 'Value for money' options that the customer has,is coupled with a pay-back capacity in a sustained long-term value addition mode which is quite unique within the industry. To an usual customer who may have an assortment of credit cards from other Banks as well who may compare what we offer, may perhaps conclude that what we offer in value is good." The new additions to the growing end user benefits are a free personal accident protection plan, which means that if a HSBC credit card holder between 18 and 70, dies or is permanently incapacitated Rs. 50,000 (For Classic) and Rs. 100,000 (Gold cards), is paid to the next of kin. Added protection has also been afforded to card users who could access their transactions through SMS after card holders register for this facility. Internet banking from many international destinations is an innovative offering available to HSBC card holders free, he said. 'Travel with peace of mind', is a further addition to their customer friendly additions which protects customers from loss of cash, airline tickets, Passports, with quick assistance in a strange land so that a HSBC card traveller would not be stranded. This also includes overseas travel protection upto $100,000, at any given time he said. (SM) |
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