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| Reebonz |
Singapore, 26 May 2011 – Against the backdrop of increasing consumer acceptance and uptake of e-commerce in Asia, MasterCard Worldwide and Reebonz have signed an agreement which will provide MasterCard cardholders with a new suite of luxury retail and lifestyle offerings at their fingertips.
MasterCard’s 2010 e-commerce transactions grew by 46% year-on-year in the South East and South Asia markets, in tandem with the region’s growing internet penetration, and the rise of savvy consumers leading an increasingly digital lifestyle.
Appealing to young, trendy PMEBs seeking luxury brands and experiences, Reebonz the online luxury retailer provides a wide array of sale avenues including an online shopping portal, mobile app for the iPhone and iPad; as well as exclusive “offline” channels such as a retail lounge, private events, and catalogue shopping. The Reebonz selection of goods is not limited to high-end fashion as it also includes fine lifestyle services and travel products. Its full suite of retail options opens the doors for MasterCard cardholders to indulge in a bit of luxury wherever and whenever they want to.
Under the two-year agreement effective May 2011, MasterCard becomes the preferred card to enjoy exclusive privileges for Reebonz purchases. Cardholders from Singapore, Malaysia, Indonesia, Thailand, the Philippines, Vietnam and India will get to enjoy perks like exclusive Reebonz discounts, privileged sale previews and access to private sale events.
"Staying true to our vision to be the region’s most trusted, respected and exclusive showcase for branded lifestyle services and luxury fashion, we recognize the need to be innovative and create new improvements to our services for a better customer experience. We are truly delighted to work with and be supported by MasterCard that shares the same ideals and goals with us. It is our pleasure to offer accessible luxury to MasterCard cardholders. Reebonz will bring some of the top names in fashion and lifestyle services to cardholders through our varied, unique and convenient sales channels. With our impeccable customer service and prompt delivery promise, we will certainly impress MasterCard cardholders with the ultimate luxury shopping experience," said Samuel Lim, chief executive officer, Reebonz.
“We are pleased to work with Reebonz to offer our cardholders in South East Asia and India easy access to the world of luxury fashion and lifestyle. Fashion and accessories are amongst the top 3 purchasing priorities for consumers in Asia Pacific, with about 1 in 2 consumers surveyed by MasterCard at the end of 2010 indicating that they intend to spend on these items in the near future,” said Ai June Schult, vice president and marketing head, South East and South Asia, MasterCard Worldwide. “This initiative is part of MasterCard’s strategy to build its growing e-Commerce platform in the region to meet the evolving needs of consumers in the region.”
Some exclusive privileges that MasterCard cardholders will enjoy include:
1. An additional 5% discount on full payments made for all sale products through its online store Reebonz.com, an upcoming physical concept store as well as the Reebonz Mobil
2. An additional 5% off merchandise during MasterCard Exclusive Online Sale Events held during the annual Great Singapore Sale and Malaysia Mega Sale Carnival
3. Privileged access to preview sale offerings and purchase exclusive or limited merchandise from Reebonz.com at least once a month
4. World, World Elite MasterCard cardholders will automatically gain the Reebonz VIP membership status and Solitaire membership perks that entitles them privileged access to the Reebonz Concept Store and exclusive members-only events
About MasterCard Worldwide
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2010, $2.7 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 23 billion transactions each year and has the capacity to handle 160 million transactions per hour, with an average network response time of 130 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl®. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories.
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