DBS Bank Hong Kong has unveiled the upcoming DBS Vantage Card, described by the bank as Hong Kong’s first Visa Infinite Privilege Card.
The card will form part of the DBS Treasures proposition for affluent customers, combining payment privileges with banking, travel and lifestyle benefits.
DBS has organised the proposition around four areas: Infinite Spending Rewards, Elevated Banking Privileges, Travel Access and Lifestyle Access.
“Premium today is no longer defined solely by spending power,” said Emily Ip, Head of Cards and Unsecured Lending, Consumer Banking Group and Wealth Management at DBS Hong Kong.
She said DBS was extending the value of DBS Treasures beyond wealth management into customers’ daily spending, travel and lifestyle requirements.
Visa research cited in the announcement found that nine in ten affluent consumers in Asia-Pacific associate wealth with meaningful family experiences and long-term family wellbeing.
The study also found that 70% of affluent consumers consider high-quality experiences and lifestyle enrichment important expressions of wealth.
Amy Kwan, Head of Business Planning, Customer Segment and Ecosystem at DBS Hong Kong, said affluent customers do not experience their financial lives in separate product categories and increasingly expect banking services to support their wider personal and family goals.
Paulina Leong, General Manager of Visa Hong Kong and Macau, said the card marked a further development in the partnership between DBS Hong Kong and Visa.
Herald View
A premium card keeps a wealth client inside the bank every day, not just at portfolio reviews. DBS is putting Visa’s top tier inside Treasures to own the daily spending of customers it already advises. The announcement gives no annual fee, launch date or rewards rate, so the “first in Hong Kong” label carries the pitch until DBS publishes the economics.
