Saturday Dec 14, 2024
Saturday Dec 14, 2024
Friday, 17 January 2020 00:00 - - {{hitsCtrl.values.hits}}
UnionPay International (UPI) has partnered with CH17 Loyalty (CH17) to manage and promote hybrid loyalty payment schemes in Sri Lanka, focusing on some of the most dynamic sectors that contribute towards economic growth of the country.
Under this agreement, UPI and CH17 will jointly issue CH17 UnionPay Payment Cards, and cardholders of the Card could enjoy multiple retail benefits, recognition and privileges in Sri Lanka as well as around the world through UPI’s global merchant privilege platform.
UnionPay started its business in Sri Lanka since 2006, and has been committed to bringing secure, convenient and efficient payment services to not only tourists visiting Sri Lanka but also the local residents. At the end of 2018, issuance of the first UnionPay card in Sri Lanka was announced through Commercial Bank of Ceylon. Now local residents can apply for a variety of UnionPay card products at various bank outlets.
UnionPay cardholders can use these cards in UnionPay’s global network that covers 177 countries and regions, including the majority of merchants and ATM terminals in Sri Lanka, while enjoying special discounts, loyalty rewards and abundant benefits offered by UnionPay.
“UPI’s entry to Sri Lanka is a clear manifestation of its commitment towards offering safe and convenient payment service to both visitors and residents in Sri Lanka. And I am delighted to be UPI’s local partner for loyalty engagement,” CH17 Loyalty CEO Jumar Preena said. “We have a full-fledged platform that can be integrated to any third-party payment or loyalty schemes such as banks, insurance, retail services including hotels and worker welfare,” he added.
“We at UPI are devoted to providing payment ease as well as more benefits to our global cardholders. The partnership with CH17 will further enrich our card portfolio in Sri Lanka and help our local UnionPay cardholders to access a readymade loyalty platform, which they can enjoy discounted benefits at various merchant outlets island-wide.” said Ashutosh Agrawal, General Manager of UnionPay International, South Asia. “In the future, we are willing to partner with more local institutions to continue enhancing our services,” he said.
As per the agreement signed between CH17 and UPI, CH17 UnionPay Payment Cards will be issued through a UnionPay card issuer (a Bank) to identified corporate clientele of CH17 Loyalty.
CH17 Loyalty will be responsible for engaging retailers of consumer brands in to this program which will offer discounts and privileges throughout the year, Jumar explained. Currently CH17 serves merchants from various platforms ranging from general retail, health and wellness, clothing and accessories, hospitality and leisure, and consumables to name a few.
CH17 Loyalty has meanwhile signed up four of the leading export driven sectors in Sri Lanka such as Apparel, IT/BPM, MSME, Gem and Jewellery/Golf, etc., to focus on employee rewards, retention and membership management schemes. Our primary objective is to help these sectors maintain a robust skillset of workers of all grades and to attract new ones, vital to meet output demands. Both Apparel and IT/BPM have a target of achieving an annual forex revenue of $ 5 billion each. Apparel has already met its target, while IT/BPM sector is confident of achieving in the near future, Jumar added.
The partnership would also strengthen the merchant base from a locally managed vendor listing to an international base to suit the busy traveller. The intention of CH 17 is to add value to this program through acquiring the remaining merchant parallels whilst the end user enjoys this wholesome offer only making a minimum annual fee.
