Farhan Ahmed, Head of Business and Corporate Communications – Corporate Affairs Department, Standard Chartered Bank, talks about SCB’s newest offering, the WorldMiles Credit Card.
Synergyzer: What are the features of the SCB WorldMiles Credit Card?
Farhan Ahmed: The Standard Chartered WorldMiles Card is the only Credit Card in Pakistan that helps customers earn WorldMiles on any amount spent through the card for travel across the globe. The card lets the customers fly for free on airline and travel class of choice by redeeming miles. It also offers complimentary access to over eighty airport lounges worldwide, dedicated concierge services, one-stop travel solutions, travel insurance, and discounts on entertainment and lifestyle privileges when using Visa Platinum.
Synergyzer: Is the WorldMiles credit card for travelers using international destinations only from Pakistan?
Farhan: The card benefits both local and international travelers. The customer has the option to redeem points both locally and internationally on their airline of choice.
Synergyzer: Since credit cards and consumer loans are disbursed in a very controlled manner and the SCB WorldMiles Credit card is a premium offering, what percentage of population in Pakistan is expected to endorse this card?
Farhan: The WorldMiles Club is an exclusive membership only group that seeks to attract a select priority clientele with travel interests. It is hard to attach the offering to a certain percentage of the population. With travel seen as a rising spend category amidst our customers, we hope this proposition is able to fulfill needs of both our existing and potential customers.
Synergyzer: Who is the intended target audience for this card?
Farhan: Our intended audience is priority customers with distinct travel needs: Those who have families or businesses abroad or travel for leisure and are spending an increasing proportion of their incomes within the travel category.
Synergyzer: What are the demographics and psychographics of the intended target audience?
Farhan: We are looking at Gen X males and females generally between the age of 30 and 50, both salaried and self-employed with average incomes of Rs. 200,000 located within tier 1 cities. These are customers on the go, with frequent travel needs, and have had long standing strong banking relationships that entitles them to exclusive privileges from the bank.
Synergyzer: How have you promoted this card?
Farhan: We launched the WorldMiles card on October 22, 2014 at a studded launch event in Karachi attended by some of our very valued priority clientele and media and marketing guests. We also held gatherings in Lahore to promote the card with our existing and potential priority clientele. You must have seen our branding at the Karachi and Lahore Airports. We have also marketed through print and television media and more is to follow. The card comes with a welcome bonus of 10,000 complimentary miles for new credit card customers.
Synergyzer: What are the mechanics of the point architecture system?
Farhan: For every Rs. 40 spent, the customer earns one reward point i.e. WorldMile.