Business

Tap-and-go with new Sheng Siong credit card

Local supermarket group Sheng Siong on Friday launched a rebate credit card to boost labour productivity and cut queue times with tap-and-go cashless payments.

The Bank of China Sheng Siong Card comes with cash rebates of up to 12 per cent, capped at $90 for Sheng Siong purchases in each billing cycle.

The tie-up with Bank of China Singapore is its second co-branded card collaboration, after the grocery chain partnered Diners Club in 2009.

Bank of China Singapore said groceries made up one-tenth of its overall card spend in 2016.

Mr Anson Lim, head of the bank's card centre, said it aims to sign up 100,000 card holders in the next two years.

Sheng Siong Group chief executive Lim Hock Chee said that the card, which comes with Visa payWave contactless payment technology, will "serve to drive more cashless transactions, lowering the operational costs of cash management and increasing our business productivity with more efficient payment processes".

He told reporters that about half of payments at Sheng Siong outlets are made with cash, but he hopes the latest move will spur cashless payments among the brand's heartland customer base.

Sheng Siong is Singapore's third-largest supermarket chain by store number, at 42 outlets islandwide, behind NTUC FairPrice and Cold Storage. - THE STRAITS TIMES

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