AS Watson Group and HSBC Announce New Partnership to Reward Customers

Friday March 4th, 2022

AS Watson Group (ASW) and HSBC today announced a new strategic partnership for HSBC Visa Platinum Card cardholders and MoneyBack members to enjoy a series of rewards and privileges through spending at all PARKnSHOP Group, Watsons and FORTRESS in Hong Kong. This follows an alliance established in 2019 when the two companies introduced the first-in-market interoperable instant rewards conversion between HSBC RewardCash and ASW MoneyBack points.

The new partnership will enable MoneyBack VIP members to earn 6x MoneyBack Points and 4x for non-VIP MoneyBack members by spending with HSBC Visa Platinum Card and at aforementioned outlets. Across the board, there will be instant discount of up to 8 per cent for shopping at these merchants on designated dates. All these benefits apply to online and in-store shopping. HSBC Visa Platinum Card customers can link their card to the MoneyBack mobile app to enjoy these new benefits.

Amy Kam, Head of Cards and Personal Lending, Wealth and Personal Banking, Hong Kong, HSBC, said, “As a leading bank in Hong Kong, we are delighted to partner again with AS Watson Group, which operates one of city’s biggest networks of physical and online stores with a wide range of retail categories. Since 2019, nearly 100,000 users have made instant rewards conversion between HSBC Credit Card Reward Cash and ASW’s MoneyBack points. It is a strong testament to the popularity and wide acceptance of MoneyBack points in the everyday life of our cardholders. The new partnership offers enhanced benefits and privileges, delivered through our well-established digital journeys to ensure a seamless and rewarding shopping experience for customers.”

Mandy Ng, Customer Director of MoneyBack and Chief Customer Insights and Analytics Officer of AS Watson Group, said, “MoneyBack is the leading retail reward programme in Hong Kong with 3.8 million active members. Over the past 15 years, we have rewarded 60 billion points with a value equivalent to HK$1.2 billion to our members, which they can use the points as cash direct and shop at PARKnSHOP, Watsons and FORTRESS. We are excited to step into another milestone with the Hong Kong’s leading bank HSBC to turn shopping into more rewarding for our customers. MoneyBack members now can earn fantastic rewards easily when they shop at offline plus online (O+O) channels under ASW’s retail brands with HSBC Visa Platinum Card at anytime and anywhere. Looking forward, we will continue to enhance exclusive O+O experience and provide attractive offers for our customers as our heartfelt thanks to their continued support.”

In addition to exclusive discounts, cardholders will enjoy a range of value-added services, including free delivery, free experience on Watsons professional beauty service and registered Chinese Medicine Practitioner consultation service, as well as birthday offer at PARKnSHOP, Watsons and FORTRESS.

To celebrate the partnership, HSBC is running special promotions for HSBC Visa Platinum Card cardholders at ASW’s network of merchants offline and online. (see Appendix).

From now until 31 July 2022, new HSBC Visa Platinum Card cardholders who successfully link their card to MoneyBack app and reach the spending requirement of HK$8,000 will enjoy a welcome offer of $1,000 RC.

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*Terms and conditions apply. To borrow or not to borrow? Borrow only if you can repay!