Woolworths to launch new credit card (Mastercard/HSBC)
Woolworths to launch new credit card (Mastercard/HSBC).
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SUPERMARKET giant Woolworths is set to enter the financial services sector by offering its customers a new credit card.
The Woolworths Everyday Money credit card allows customers to earn shopping cards, which can be used to make purchases at the range of stores in the group's retail outlets.
Quote:
Woolworths' partners in the credit card are HSBC and MasterCard.
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Re: Woolworths to launch new credit card (Mastercard/HSBC)
Doesn't quite have the sound of the Ezy card they had before. Obviously had a rethink on their strategy, before releasing this. Will have to wait for more details
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Re: Woolworths to launch new credit card (Mastercard/HSBC)
And more info:
Quote:
Media Release: WOOLWORTHS
Tuesday, August 26, 2008
AAP
A FRESH APPROACH TO CREDIT CARDS FROM WOOLWORTHS
Customers are set to reap greater rewards with the launch of the new WOOLWORTHS
EVERYDAY MONEY CREDIT CARD heralding a fresh approach to credit cards.
The card's key feature is its simple rewards program that quickly delivers customers real, attainable and relevant rewards which can be used to make purchases from a range of stores in the Woolworths group.
The general purpose credit card will be available to shoppers from 1 September 2008, offering all Australians a new level of value and convenience, a competitive interest rate, no annual fee in the first year and the ability to choose from four fresh card colours.
THE REWARDS SHOPPING CARDS EVERY 4 MONTHS
Customers will earn points almost everytime they make a purchase with the WOOLWORTHS EVERYDAY MONEY CREDIT CARD. Every four months, customers with enough points will automatically receive an Everyday Money Shopping Card that they can redeem on almost any product within participating Woolworths Limited stores.
Woolworths CEO Michael Luscombe said that the Woolworths Everyday Money Credit Card rewards scheme will revolutionise the current credit card rewards market by introducing an entirely new level of flexibility, value and choice.
"Our Customers will be able to use their Everyday Money Shopping Card for items ranging from groceries at Woolworths supermarkets, clothing from BIG W, petrol at participating CALTEX WOOLWORTHS co-branded fuel outlets or a bottle of red from Dan Murphy's," Mr Luscombe said.
"Customers want simple, easily achievable and useful rewards. This is one of the many reasons we have taken a fresh approach to credit cards.
"Customers will be able to choose the products that are valuable to them.
"This is about offering our customers real and achievable rewards that can be used for their everyday needs or for something more of a treat," Mr Luscombe said.
Other key features of the new credit card include:
* Competitive 18.99% p.a. interest rate on purchases
* 0% p.a. until February 2009, on all purchases
* No annual fee for the first year
* Low annual fee of $49 after the first year
* No fee for the additional cardholder
* 5.99% p.a interest on balance transfers for 6 months on the first balance transfer
* Contactless Chip and PIN security
* A choice of four fresh colours - Black, Blue, Green and Pink.
UNPRECEDENTED SPEED AND CONVENIENCE
Mr Luscombe said the benefits to customers do not stop with the rewards. "From late 2008, the Woolworths Everyday Money Credit Card will make it significantly easier for customers to track their finances, with cardholders able to check and pay their balance at the supermarket checkout," Mr Luscombe said.
"Cardholders will also be able to track and manage their finances at www.everydaymoney.com.au or speak personally with one of our customer service professionals seven days a week on 1300 10 1234 at our new, dedicated, local Everyday Money Customer Service Centre," he said.
"Customers will also be able to take advantage of PayPass, MasterCard's contactless payment system, which dramatically increases the speed and convenience of transactions.
"Our Everyday Money customers will be able to get back on the road faster with epump. From late 2008, epump will offer Everyday Money customers a quick new way to pay for fuel and redeem fuel saving offers at the pump at participating CALTEX WOOLWORTHS co-branded fuel outlets across Australia," he said.
SECURITY AND TECHNOLOGY
The Woolworths Everyday Money Credit Card also boasts a significantly high level of security through Chip and PIN functionality and other cutting edge security technology.
"We recognise that our customers are increasingly concerned about credit card security," Mr Luscombe said
"The Woolworths Everyday Money Credit Card features EMV chip security and will use Chip and Pin technology. We will be encouraging our customers to switch from signing to PIN entry when shopping to enhance security and save time for customers at the checkout."
GLOBAL PARTNERS
Woolworths' global partners in the credit card are HSBC Bank, which has extensive experience in co-branded retail credit card programs, and MasterCard Worldwide.
"MasterCard provides our customers with the convenience of a globally accepted card scheme that has unsurpassed acceptance at over 27 million acceptance locations around the world" Mr Luscombe said.
"Together with HSBC, we believe are offering a fresh approach to financial services in the Australian market," he added.
CONTINUED FOCUS ON VALUE
Mr Luscombe said Woolworths' key priority is providing the goods and services customers need for their everyday lives at a price that represents good value.
"The Woolworths Everyday Money Credit Card is in line with our existing retail offering and customer value proposition" Mr Luscombe said.
"We will continue to work hard to deliver products to our customers with a focus on exceptional customer service, convenience and value," he said.
AN UNPRECEDENTED mountain of data will be amassed by the nation's leading retail company with the launch of a sophisticated credit card that can follow shoppers on their spending trails and be used to entice them to buy more products.
Woolworths' Everyday Money Credit Card is the first in the country to combine a credit card with a sophisticated loyalty program capable of capturing and then sending a shopper's purchasing details back to a central database. The database is linked to the company's recently launched fuel voucher card.
Not sure what the % of spnd you get back is, but the article mentions you get more if you spend on private label items.
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Re: Woolworths to launch new credit card (Mastercard/HSBC)
Point earning:
3 points per dollar spent on Woolworths Select products purchased at Woolworths or Safeway Supermarkets, excluding online purchases.
2 points per dollar spent on other products purchased at Woolworths or Safeway Supermarkets, BIG W, CALTEX WOOLWORTHS/SAFEWAY co-branded fuel outlets, epump, Woolworths/Safeway Liquor, **** Smith PowerHouse and participating **** Smith Electronics and Tandy stores. Some exclusions apply.
1 point per dollar spent on other purchases.
**** call him Richard Smith. What incredibly stupid software.
Burning
Every 4 months, if you have enough points, we’ll automatically convert them into an Everyday Money Shopping Card and have it sent to you.
Edit:Found it
To get the minimum reward of a $20 shopping voucher you need 3,448 points.
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Last edited by oz_mark; 31st August 2008 at 01:23 PM.
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Re: Woolworths to launch new credit card (Mastercard/HSBC)
Quote:
Originally Posted by oz_mark
To get the minimum reward of a $20 shopping voucher you need 3,448 points.
Not a particuarly attractive conversion rate (though at least it beats the Coles Source Card I guess - but much less attractive than the old Ezy card). No danger of me dropping the Amex or Citibank cards for this anyway!
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Re: Woolworths to launch new credit card (Mastercard/HSBC)
Woolies Select range is normally up to 50% higher than their other home brand.
In some cases, the product is (most likely) the same. In others, perhaps it has more quality. At the very least it has a much better set of packaging!
I'll be staying very clear of this card - even though I'm a frequent Woolies/other W brands shopper.
I'm sure the Checkout staffers will become annoyed though. Was in Woolies a couple of days ago and got the spiel "Do you have a Woolies Card / Do you want any cash out" (I'm thinking there was a third question in there somewhere as well. I joked with her about the Woolies Fuel card and how useless it was... (and she commented that she had to mention it!)
Re: Woolworths to launch new credit card (Mastercard/HSBC)
Quote:
Originally Posted by Mal
I'm sure the Checkout staffers will become annoyed though. Was in Woolies a couple of days ago and got the spiel "Do you have a Woolies Card / Do you want any cash out" (I'm thinking there was a third question in there somewhere as well. I joked with her about the Woolies Fuel card and how useless it was... (and she commented that she had to mention it!)
Like Coles and asking about the FlyBuys card. And I actually am starting to wonder what future that card has, given that promotions seem to have pretty much stopped under the Wesfarmers ownership. But then, maybe they have too many other problems to fix.
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