TMB reveals TMB ABSOLUTE the latest credit card targets high-end customers Every Baht 10 spent earns 1 point

Stocks and Financial Services Press Releases Wednesday July 17, 2019 15:48
Bangkok--17 Jul--deaworkscommunications
TMB reveals "TMB ABSOLUTE" the latest credit card targets high-end customers Every Baht 10 spent earns 1 point, no foreign transaction fees on overseas spending Including travel insurance coverage

TMB launches "TMB ABSOLUTE" Visa Signature, a high-end credit card offers extensive benefits over other cards. Every Baht 10 spent earns 1 point, with no foreign transaction fees when spending overseas, offering travel insurance coverage. It is considered as the first credit card in Thailand without foreign currency conversion (FX) risk fees of 2.5%. Earning double TMB Rewards Plus for every Baht 10 spent via online shopping equals 2 points or Baht 12.5 = 1 ROP making it a speedy accumulation on miles redemption. Also to receive a travel insurance coverage up to Baht 16 million, airport lounge access around the world 2 times per annum and many more benefits to come.

Mr. Jaray Jianthanakanon, Head of Retail Lending Products, TMB said "TMB ABSOLUTE credit card is created based on the study of the behavior of high income customers in Thailand. The study found that the spending patterns of Thai people are clearly divided into categories such as shopping, tourism and dining. In particular, shopping is popular through online channels. Overall, spending via online markets or e-Commerce in Thailand is worth up to Baht 860 billion, growing by 14% from 2017. Of the total, the high-end customers spending through online channels grew by 49%, with spending on credit cards representing a total value of up to Baht 204 billion, growing 17%. For tourism, Thai people traveling abroad with an average 3.9 trips per annum, higher than the global average of 2.7 trips per annum. The total spending through all channels worth up to Baht 400 billion, growing 4-6%. There is a 24% increase in overseas spending by the high end customers, with credit card spending in foreign countries worth approximately Baht 120 billion, a growth of 8% from 2017. Meanwhile, eating and drinking is a lifestyle that becomes more popular as the Thai people eat 7 meals a day, including morning, late morning, noon, afternoon, late afternoon, evening and late night, with a total market value of Baht 400 billion, growing by 3-5%. The total value of credit card spending in this category is about Baht 48 billion, growing 12%."

"TMB ABSOLUTE" customers are considered high income group. They have a dynamic lifestyle and pay attention to everything surrounding them. They are self-conscious, value added for living vision to both themselves and others. They have plenty of activities in their daily life, a goal for self development to be success.

"TMB aims to expand the number of new card customers covering every category of 200,000 cards. TMB ABSOLUTE credit card will focus on high-end customers with a target of 40,000 cards through online and offline media marketing channels. This is coupled with the promotion of special privileges and exclusive privileges of the TMB ABSOLUTE credit card through the commercials entitled Perfect Life with a length of 60 seconds, reflecting TMB's belief that Things that indicate the status and success of this generation are not just assets, but a better life experience, more superior than others. The story will be told through the life of a young man who can live comfortably, with completely good experiences both at home and abroad. And all the things that fulfill his life in this way, thanks to many privileges from TMB ABSOLUTE credit card."

TMB ABSOLUTE Visa Signature - the first credit card that offers exclusive privileges such as
  • Free of charge on foreign currency conversion risk 2.5% for foreign currency spending with no limitation on spending channels and currency. With a reasonable exchange rate that is equivalent to money changer elsewhere and also receive TMB Rewards Plus points.
  • For every Baht 10 spent via online shopping, receive double points (Baht 10 = 2 points OR Baht 12.5 = 1 ROP), except for top-up via e-Wallet, Direct Debit or Bill Payment and online Insurance Purchase.
  • Moreover, when shopping online for items value Baht 1,000 or more with TMB ABSOLUTE credit card, if the items get lost or do not meet the specification, a full refund is guaranteed up to Baht 5,000 per time or Baht 10,000 per year

In addition, the outstanding features of TMB ABSOLUTE Visa Signature credit card also appear in the reward point redemption from TMB Rewards Plus Program. Every 2.5 points = 1 ROP, including special travel privileges such as the Airport Lounge (LoungeKey) access worldwide to over 1,000 locations for cardholder and companion 2 timers per year. Travel insurance both domestically and internationally for the whole family protection, a maximum coverage of Baht 16 million. Visa Concierge, a 24-hour emergency service in case of having problems during travel abroad (Worldwide Emergency).

"TMB ABSOLUTE" Visa Signature credit card is expected to drive TMB in building more top-level credit card customers. For the year 2019, TMB targets at 40,000 of this new card issuances, from the current 200,000 cardholders. Representing a total market value of over Baht 1.8 trillion (** based on the total market value of Baht 1,672 billion + Baht 125 billion foreign spending overview). For TMB ABSOLUTE Visa Signature to reach its targeted customer group, our marketing plan is to use both online and offline media together with the promotion of exclusively special privileges of the card through commercial movie in the name of "Perfect Life" with 60 seconds in length, reflecting TMB's belief that the things to indicate the wealth and success of this generation are not just assets. But a better and more special life experience than others. The story will be told through the life of a young man who can live comfortably, accumulate good experiences both domestically and internationally. And the thing that helps to fulfill his life in all aspects is from the privileges of TMB ABSOLUTE card have to offer."

"What TMB has always been focusing on is that, we are determined to make the difference, by making every group of customers to receive more in all aspects. Especially TMB ABSOLUTE Visa Signature credit card offers the benefits and privileges that no other credit cards have offered before. It reflects TMB service standards which is Customer Centric oriented and prioritize customers' benefits. As well as being compatible with the Get MORE with TMB concept, TMB customers must receive more, reflecting the organisation's intention clearly. We hope this "TMB ABSOLUTE" product will be the starting point for the success that TMB wants to reach its goal to become the dominant bank to everyone" Mrs. Marie concluded.

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