(Hong Kong, 7 January 2010) DBS Bank, together with Octopus and China UnionPay, today unveiled its innovative first-in-town DBS Octopus ATM Card. Harnessing the latest technological advancements, the new DBS Octopus ATM Card combines the functions of ATM card with Octopus' contactless smart card, offering customers the convenience of banking and payment with one card.
DBS recognises the need for simple banking solutions in today's busy world. Leveraging on the networks of Octopus and China UnionPay, DBS Octopus ATM Card enables customers to make purchases at more than 50,000 Octopus payment points of over 2,500 service providers covering public transport operators and retailers and nearly-80,000 merchant Point-of-sale (POS) terminals through EPS and China UnionPay network in Hong Kong, offering an ultimate practical solution to busy people.
DBS Octopus ATM Card can be used at over 890,000 ATMs in the JETCO and China UnionPay networks for a wide range of banking services including cash withdrawal and deposits, bill payment, fund transfer and more. Moreover, Octopus Automatic Add-Value Service and Octopus Rewards is incorporated to enhance the user experience.
Amy Yip, Chief Executive Officer of DBS Bank (Hong Kong) Limited said, "DBS is honoured to cooperate with Octopus and China UnionPay for the launch of this new card. With our partnership, the DBS Octopus ATM Card is enhanced in terms of its functionality and coverage, fulfilling customers' need for simple banking solutions. Putting customers as our top priority, DBS constantly strives to provide our customers with brand new banking experience and products that best suit their needs and lifestyle."
Rajan Raju, Group Executive of Consumer Banking Group, DBS Bank Limited said, "DBS Octopus ATM Card not only provides customers with greater ease in managing their finances but also enhances their shopping experience. We believe the new card would bring DBS customers and busy Hong Kong people greater convenience. We have also waived the annual fee for the card so as to spread the double convenience to more people."
Prudence Chan, Chief Executive Officer of Octopus Cards Limited said, "We are very delighted to be partnering with DBS and China Union Pay to launch the first-in-town ATM card with Octopus function. The newly-launched DBS Octopus ATM card shares Octopus' mission of "Making Everyday Life Easier" by offering customers with a brand-new experience to enjoy hassle-free banking and Octopus services, along with the benefits of Octopus Automatic Add-Value Service and Octopus Rewards. By consolidating banking, everyday spending and rewards into one product, the new card is tailor-made to meet the demanding lifestyle needs of Hong Kong customers."
One card does it all
DBS Octopus ATM Card can be used at JETCO and China UnionPay ATM networks. Consumers can easily access these ATM networks and enjoy day-to-day banking and payment, including:
- Cash withdrawal / deposits
- Balance enquiry
- Fund transfer
- Cheque book/statement request
- JET payment service (including credit card payment and bill payment)
Security Alert on AAVS transactions offers customers greater security
The DBS Octopus ATM Card is built-in with the Octopus Automatic Add Value Service (AAVS). With this feature, the card will be automatically reloaded with HK$250 from the customer's designated HKD current account once the Octopus balance reaches zero or negative balance. For any abnormal consecutive Automatic Add-Value Service (AAVS) transactions or overdraft incurred, SMS alerts will be sent, so customers can be assured of a secure and convenient payment.
Customers are automatically registered for the Octopus Rewards Programme, one of the largest loyalty reward programmes in Hong Kong. When the DBS Octopus ATM card is presented at any designated Octopus Rewards partners' outlets, customers can earn or redeem Reward$ when making any purchase.
Annual fee waiver
Customers can enjoy a waiver on the card's annual fee.
DBS Octopus ATM Card Privileged Offers
From 7 January to 30 April 2010, customers using the DBS Octopus ATM Card and have an AAVS transaction on Saturdays and Sundays can enjoy a 10% cash rebate on the auto-add value amount; while on Mondays to Fridays, a 2% cash rebate will be offered. In addition, with each Automatic Add-Value Service transaction through the DBS Octopus ATM Card, customers would be eligible for a lucky draw chance to win a prize of 1-month free usage of the AAVS (a total of three winners for each calendar month during the promotion period).
During the promotion period, new customers who open a DBS Packaged Account with new funds will enjoy up to HK$1,000 instant cash reward. What's more, upon successful application of the DBS Octopus ATM Card, customers can enjoy HK$50 cash rebate and start to enjoy double convenience with one card.
DBS is one of the largest financial services groups in Asia with operations in 16 markets. Headquartered in Singapore, DBS is a well-capitalised bank with "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region.
As a bank that specialises in Asia, DBS leverages its deep understanding of the region, local culture and insights to serve and build lasting relationships with its clients. DBS provides the full range of services in corporate, SME, consumer and wholesale banking activities across Asia and the Middle East. The bank is committed to expanding its pan-Asia franchise by leveraging its growing presence in mainland China, Hong Kong and Taiwan to intermediate the increasing trade and investment flows between these markets. Likewise, DBS is focused on extending its end-to-end services to facilitate capital within fast-growing countries in Indonesia and India.
DBS acknowledges the passion, commitment and can-do spirit in each of its 14,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com.
Launched in 1997, Hong Kong's Octopus is the world's leading and most extensive smartcard payment system, with over 2,500 service providers across different businesses including public transport, parking, retail, vending and kiosks, schools and leisure facilities, and access control for residential and commercial buildings, with over 50,000 Octopus readers deployed in the market. Merchants and Octopus holders embrace Octopus for both its simplicity and its convenience. Today, more than 20 million Octopus cards and products are in circulation, and the system handles over 11 million transactions a day, with transaction value exceeding HK$100 million. In recent years, Octopus has started to export its unique experience and technology overseas, offering consultancy services for parties from different parts of the world. Additional information can be found at www.octopus.com.hk.
Established in March 2002, China UnionPay (CUP) is a bankcard association under the approval of the State Council and the People's Bank of China. At present, the Shanghai-headquartered CUP has 36 branches in provinces and key central cities of China, has opened more than 10 overseas representative offices and branches. Now CUP has about 300 domestic and overseas associate members and has engaged in cooperation with more than 100 global financial institutions.
Ever since its establishment, China UnionPay has collaborated with various industrial parties to promote the rapid development of China's bankcard industry. China has developed as one of the countries with the largest bankcards, most rapid growth and greatest potential in the bankcard industry worldwide. Up to now, CUP's global acceptance network has covered nearly 70 countries and regions across five continents around the world, among which more than 10 countries and regions have issued CUP standard card in local currency.
In future, CUP will reinforce the cooperation with all business partners to share China's development opportunities, to achieve win-win situation and mutual benefits. CUP is committed to serve not only the cardholders in China, but also the overseas as an international brand. CUP will devote itself to the progress and prosperity of global bankcard industry.