Standard Chartered launches CardsPal
Standard Chartered has announced the launch of its CardsPal’s platform in Singapore, which aggregates credit card deals from all banks and card issuers in Singapore, while allowing users to personalise the deals according to the credit cards they own.
Through a holistic understanding of the value of their credit cards, a user is then able to optimise their credit card usage and spending, helping the busy majority navigate the cards scene to get the most out of the credit cards in their wallet, according to a press release by the Bank.
CardsPal and Mastercard have simultaneously announced a partnership to bring to users real-time, personalised credit card deals from all Singapore-issued Mastercard credit cards.
The following initiatives are what CardsPal and Mastercard are looking to roll out in this partnership: Featuring the latest Mastercard deals for all Mastercard credit cards in Singapore, updated through API integration; and collaborating on marketing campaigns to bring exclusive Mastercard deals and promotions to CardsPal’s users.
The partnership has future ambitious plans to further enhance the user journey on CardsPal. By leveraging Mastercard’s wealth of data and insights about merchants, global deals and exclusive experiences, CardsPal aims to deliver a seamless user journey and grow into an everyday app for every spending decision.
Alex Manson, Global Head of SC Ventures, Standard Chartered, said: “CardsPal is on the cusp of creating an entirely new experience for benefit optimisation. The app addresses the information gap between consumers and merchants, allowing its users complete and easy access to the best deals available, wherever they go. I'm already excited by the experience designed by the CardsPal team and the partnership with Mastercard will bring it to greater heights.”
Deborah Heng, Country Manager, Singapore, Mastercard, said: “Over the years, Mastercard has built a strong reputation with Mastercard cardholders as a network that delivers rewarding experiences. Its seamless payment integration gateway has paved the way for meaningful partnerships in an easy and cost-effective manner. Through the new partnership with CardsPal, Mastercard is excited to connect consumers with the best Mastercard deals all in one digital platform, while also supporting its merchant and business partners by bringing their exciting offers closer to cardholders.”
CardsPal is a 100% Standard Chartered-owned venture incubated by SC Ventures, the bank’s innovation, FinTech investment and ventures arm, says the firm. Standard Chartered has been actively experimenting with new business models to meet the evolving needs of its clients.
The bank recently announced nexus, its “Banking as a Service solution, a joint venture with Assembly Payments to develop and deliver next generation payment solutions. In Hong Kong, it is set to launch a standalone digital retail bank in Hong Kong, Mox, in partnership with PCCW, HKT and Trip.com, and has also built a digital open platform, Solv, to help Small and Medium Enterprises (SMEs) in India and other markets grow by providing access to financial and business services.
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