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United Overseas Bank Limited (UOB), together with MasterCard Singapore, today unveil the UOB Platinum Business MasterCard (“the Card”). It is the first business card in Southeast Asia that offers 0.3 % cash back rebates.

The UOB Platinum Business MasterCard offers a powerful proposition that helps small and medium enterprises (SMEs) manage cost. For example, if you are a SME with extensive freight forwarding requirements, your organisation stands to enjoy a 25% discount off the first shipment. And if your organisation is heavily reliant on power to drive your business, you will also be able to enjoy huge discounts of 3.88% on tariffs imposed by Singapore Power Services.

Other than savings on operational aspects, SMEs will also enjoy privileges offered by the Card from the leisure perspective. Cardmembers also get to enjoy exclusive offers such as S$2000 discount off China Club’s Enhanced Corporate Membership Plan. Furthermore, cardmembers also enjoy a 0.3% cash rebate on retail purchases, and will receive exclusive hotel room rates and airfare discounts with UOB Travel Planners. Over and above this, cardmembers will get special rates for travel and personal accident insurance premiums. With a Card that is packed with benefits to cater to SMEs, your dollar will now be stretched further.

Mr Francis Hsu, UOB’s Regional Head of Credit Cards and Brand Management said, “As more SMEs are establishing a firm foothold in the Asia-Pacific and beyond, there is a need to keep business costs low and access to funding intensifies. This Card reinforces UOB’s ability to leverage on its network and provide its expanding regional customer base with value-added services and products.”

Mr Hsu added, “UOB has been building its Commercial Card infrastructure in
Hong Kong, Indonesia, Malaysia and Thailand to support multinational customers in regional card programmes. The UOB Platinum Business MasterCard is testament to our effort, and it offers customers business savings in essential business services. Our customers will benefit from our ability to provide a single financial offer and credit-underwriting in all the countries where UOB is present.”

With the increasing critical role SMEs play towards the growth of Singapore’s economy and in the region, UOB believes in building strong rapport with SMEs through an indepth understanding of their businesses and helping them gain presence in the region by leveraging on UOB’s extensive network in Asia.

Ms Gan Ai Im, UOB’s Head of Cards and Payment Products added: “The UOB Platinum Business MasterCard will further entrench our position as the market leader in commercial cards. As a leader in the SME market, we are closely attuned to the evolving needs of this segment. This Card offers savings on essential business services that all SMEs need and the 0.3% rebate on all retail purchases will help the SME save even more. To add more value to our customers, we will continue to build acceptance of our Business Card in the B2B marketplace.”

“Organisations are recognising the importance of expense management and how streamlining the cash management process can have a positive impact on the bottom line. This is especially important for small-medium enterprises, where it is essential to keep business expenditure under control. Singapore’s SMEs are no longer the smallscale operations of yesteryears and are becoming a key driver in Singapore’s economy. While business cards used to be targeted at the
multi-national companies, with increasing operations and regionalisation, there is a market demand for business card programmes tailored to the needs of SMEs. MasterCard is pleased to be launching the UOB Platinum Business MasterCard, helping SMEs realise greater efficiency and achieve cost savings,” said Mr Ajay Bhalla, Executive Vice President, South East Asia, MasterCard Worldwide.

To bring value to customers, the Bank has teamed up partners such as DHL, SingTel, Senoko, China Club and Singapore Press Holdings. The bank believes that together with its partners, its SME customers will be able to enjoy greater financial flexibility as well as benefit from greater savings on their monthly business expenses.

For example, if a SME spends a total of $5,675 on electricity bills, shipment, travel, hotel expenses etc, he would have enjoyed a total saving of $407.25 when he uses the UOB Platinum Business MasterCard as illustrated in the table below:

Total bill after savings = $5,283.60
Cash rebate 0.3% = $15.85
Total savings on partners offers = $391.40
Total savings (cash rebate & partners) = $407.25
% total savings = 7.7%

Visit the UOB Platinum Business MasterCard webpage for more information.

About United Overseas Bank
UOB is a leading bank in Singapore that provides a wide range of financial services through its global network of 524 branches, offices and subsidiaries in 18 countries and territories in Asia-Pacific, Western Europe and North America. It has banking subsidiaries in Singapore, Malaysia, Indonesia, Thailand and the Philippines.

UOB is focused on enhancing its leadership in the consumer market, and is today, the largest credit card-issuing bank in Singapore with a card base that has exceeded one million. The Bank also has the largest base of merchants in Singapore, both for consumer and commercial credit card acceptance. There are currently more than 20 cobrand cards in its stable, covering the retail sector, service providers and non-profit organisations.

About MasterCard International
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardmembers and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 14 billion payments each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants.

Through its family of brands, including MasterCard^®, Maestro^® and Cirrus^®, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information, go to www.mastercardworldwide.com.

	UOB Call Centre Phone: 1800 22 22 121 (24-hour, toll-free)

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