HSBC Malaysia launched a brand new lifestyle credit card, the HSBC Live+ Credit Card in partnership with Visa today. The credit card is designed to elevate the lifestyle experience of internationally minded customers, tailored with cashbacks to benefit them from their lifestyle spending which includes dining, shopping and entertainment.
This trifecta benefit underscores HSBC’s commitment to empower customers but also enable them to enjoy and indulge in their best lifestyle experiences. On top of that, HSBC Live+ cardholders are also entitled for a cashback of up to 8% whenever they spend on the above three categories.
Furthermore, HSBC Live+ cardholders are automatically integrated into one of Asia’s most comprehensive dining programmes, with wider selection of dining options alongside perks, both locally or abroad. The card offers a compelling 15% discount in over 200 handpicked restaurants across Malaysia and beyond.
Taylan Turan, Chief Executive Officer, Retail Banking, HSBC said, “We combine our global expertise and knowledge on-the-ground to design products that meet local customers’ needs, such as our new Live+ credit card. As wealth creation drives more spending among the middle class and emerging affluent segments, we designed Live+ to offer outstanding lifestyle experiences and accessible rewards that resonate with our customers. We’re excited to bring this card to Malaysia, where we have been investing in our wealth and personal banking capabilities and look forward to expanding Live+ into other dynamic global markets.”
Malaysia is one of the first markets to introduce the HSBC Live+ Credit Card, with subsequent launches planned in multiple markets globally this year, capitalising on opportunities from the rising consumption power of South and Southeast Asia’s fast-growing mid-segment and affluent populations who enjoy international exposure.
A study carried out by HSBC in 2023 found that, cashback credit cards are favoured among the South Asian customers, garnering nearly 40% of consumer ownership. To simply put, consumers in this region not only enjoy spending on their lifestyle experiences they enjoy the rewards that comes through everyday spending.
The research also revealed that consumers in Southeast Asia, with their increased spending power and greater international exposure, derive the most enjoyment in shopping therapy and dining with friends.
Linda Yip, Country Head of Wealth and Personal Banking, HSBC Malaysia commented, “According to the spend data by HSBC-Visa cardholders, spending on food is a top priority for Asians, with restaurants and food-related expenses ranking in the top three spend categories in seven out of eight markets. This underscores the significance of dining in the region and the value that HSBC Live+ Credit Card brings to its cardholders. Dining, shopping and entertainment are key lifestyle experiences that most Malaysians can relate to and this is why HSBC Live+ Credit Card is specifically designed for customers to enjoy quality experiences from their lifestyle choices and be rewarded in the form of cashback for both their local and overseas spend.”
Ng Kong Boon, Visa Country Manager for Malaysia, said, “We’re thrilled to join forces with HSBC for the launch of the HSBC Live+ Credit Card, which is tailored to amplify our cardholders’ experiences in dining, shopping, and entertainment. At Visa, we are not merely facilitating transactions; we’re enhancing their everyday moments. Our aim is to provide a personalised, rewarding journey that simplifies and enriches their lifestyle, whether they’re dining out at a new restaurant, shopping for the latest trends, or seeking the best in entertainment. Plus, they can continue to rely on us for seamless, secure payments every time they use Visa.”
Key features of HSBC Live+ Credit Card include:
• Exclusive dining discounts: Enjoy up to 15% off your total bill at over 200 restaurants across Asia through curated Live+ Dining Programmes. Plus, enjoy up to 8% cashback* on your dining bill
• Shopping: Enjoy up to 8% cashback* at clothing stores, sporting goods, and departmental stores
• Entertainment: Enjoy up to 8% cashback* on entertainment spending at cinemas and on your favourite streaming subscriptions including Netflix, Disney+, Spotify and more. From 1 July 2024 onwards, on every Saturday & Sunday customers can enjoy RM10 off at any GSC cinema outlets.
• Unlimited cashback on all other eligible spend:
I. 0.5% cashback on overseas spend
II. 0.2% cashback on domestic spend
From today, residents who are 21 years old or above with an annual income of RM60,000 can apply for the HSBC Live+ credit card via HSBC branches and official website (www.hsbc.com.my/LivePlus)
*T&C apply. For more details, please visit: www.hsbc.com.my/LivePlus
Source: Press Release
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