Skip to main content

Standard Chartered credit cards increasing in collaboration with e-commerce

Tinuku ~ Credit card transactions by Standard Chartered Bank (Stancart) Indonesia increased significantly by collaborating with e-commerce. Stancart Indonesia also predicts consumption growth will increase this year projected to increase spending by credit card.

Tinuku Standard Chartered credit cards increasing in collaboration with e-commerce

Standard Chartered Bank (Stancart) Indonesia has an increasing number of users and credit card transactions by collaborating with e-commerce. A partnership strategy with an online store site is claimed to improve the bank's performance.

Country Head Retail Banking Stancart Indonesia, Lanny Hendra, said the growth of credit card users is predicted to grow up to nine percent this year. Even this projection can approach double digits.

"We have cooperated with e-commerce such as Blibli and Traveloka," said Hendra at Shangri-La Hotel, Jakarta, Wednesday, May 31, 2017.

Hendra said the growth of Stancart credit card transactions has been seen since last year with a focus on collaborating with e-commerce sites to increase customer base and transactions.

"We offer cashback and discounts on every credit card transaction, certainly to be attractive to customers," said Hendra.

Hendra calculates credit card transactions for online shopping and travel has gone up three to four times than before partnering with e-commerce.

Stancart Indonesia is currently building collaboration with some other e-commerce, but Hendra does not want to reveal the names of e-commerce and target the number of credit card users with this strategy.

"Our focus is more on e-commerce," Hendra said.

Comments

Popular posts

Norwegian Coastal Administration prepare Stad Ship Tunnel construction to cut shipping lanes Stad peninsula

Tinuku ~ Norwegian Coastal Administration has begun Stad Ship Tunnel construction as the world's first ship tunnel to navigation bypass at Norway windy sea. A design made 1,700 meters long tunnel through the hills on the Stad peninsula which allows the ship to escape from one of the most dangerous region in the world.

PayPal acquired Sweden's iZettle.com for $2.2 billion

PayPal Holdings Inc. said on Thursday it had agreed to acquire Sweden's iZettle.com for US$2.2 billion. Startup headquartered in Stockholm is one of the most renowned financial technology companies in Europe where the deal will allow PayPal to expand the market globally and will mark the largest acquisitions ever made by a company based in San Jose, California.

iZettle offers a mini credit card device for small businesses that can turn smartphones and tablets into payment registers. The company has been present in 11 countries and offers other services for small businesses including loans. iZettle also has plans to go public.


The deal will also help PayPal provide a more comprehensive suite of services to its merchants, while PayPal that operates in the next 200 countries allows iZettle to accelerate its international expansion including the US. Similar services and major competitors in the US are Square Inc founded by Twitter CEO Jack Dorsey.

Since separating from eBay in 2015, P…

Foxconn unit to raise $4.2 billion IPO in Shanghai

Foxconn unit to collect US$4.2 billion in an IPO on the Shanghai stock exchange. Taiwan's Foxconn Industrial Internet as one of Foxconn's electronics manufacturing giant units that makes cloud services and industrial robot equipment will float 10% of total shares in an initial public offering in China on Thursday aiming to raise 27.1 billion yuan as China's biggest mainland debut for three year.

Taipei-based Foxconn, also known as Hon Hai Precision Industry Co. is the world's largest electronics contract manufacturer, a major supplier of components and assembler products by international brands including Apple and Sony. Foxconn Industrial Internet will launch 1.97 billion new shares at 13.77 yuan per share to raise 27.1 billion yuan (US$4.2 billion).


The IPO will be the largest in mainland China since 2015. Foxconn said it will use the funds raised to improve smart manufacturing, build an internet platform to connect factories, invest in cloud computing and fifth gener…