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Mastercard and Singapore Airlines forge strategic partnership for Southeast Asia

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Mr Ryan Pua (left), Divisional Vice President Loyalty Marketing, Singapore Airlines, with Ms Deborah Heng (right), Mastercard’s Country Manager for Singapore, announcing the strategic partnership between Mastercard and Singapore Airlines to enrich travel experiences for cardholders.

Mastercard teams up with Singapore Airlines for a five-year strategic partnership, launching co-branded card programs across Southeast Asia.

SINGAPORE – Mastercard announced a five-year strategic partnership with Singapore Airlines (SIA), appointing Mastercard as the preferred partner for SIA’s upcoming co-branded card programs across Southeast Asia, including Cambodia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.

Southeast Asia has seen sustained travel recovery over the past two years, as consumers released pent-up demand to travel and enjoy outdoor experiences. In Singapore, affluent consumers assigned over 37% of their discretionary spending to travel by the end of 2023, the highest of any category. According to the Mastercard Economic Institute’s Economic Outlook 2024, consumers across Southeast Asia will continue to allocate more spend to discretionary items over essentials this year, with travel as a priority.

At the same time, airlines are looking to build brand loyalty through targeted loyalty programs investing in co-branded card programs that go beyond travel. By enabling cardholders to earn miles through everyday purchases on credit and debit cards and redeeming them across a variety of popular brands, airlines are making their membership a necessity in consumers’ lives, thereby retaining and growing existing member relationships while acquiring new ones.

This strategic partnership is designed to cater to these emerging trends and consumer preferences. Supported by Mastercard, SIA will launch co-branded credit and debit card programs across Southeast Asia providing a range of attractive benefits to cardholders, such as the earning of KrisFlyer miles from everyday spends, and accelerated mile accrual and redemption opportunities that will count towards their KrisFlyer status upgrades.

The collaboration will also include an extension of Mastercard’s Priceless platform to SIA’s KrisFlyer members, including special offers and global promotions as well as exclusive access to a suite of curated experiences that span dining, travel, sports, music, entertainment, and more around the world.

Ryan Pua, Divisional Vice President Loyalty Marketing, Singapore Airlines, said: “This exciting partnership combines the best of the Mastercard Priceless and the KrisFlyer Experiences programs. It offers our members access to a wider range of exclusive experiences across Southeast Asia, as well as attractive mile earn and burn opportunities in their everyday spend. This is part of our continuous efforts to enhance KrisFlyer’s value, and give our members the best on-ground and in-flight benefits and experiences.”

This partnership will also create opportunities for card issuers in Southeast Asia to be part of a key strategic alliance in the travel and entertainment space, and bring the best benefits, experiences, and value to their customers.

Deborah Heng, Mastercard’s Country Manager for Singapore, said: “Mastercard’s decades of experience and global scale affords unique insights that enable us to develop compelling products and programs for customers and consumers to drive engagement and loyalty. Mastercard is excited to forge this strategic partnership with Singapore Airlines, one of the world’s leading airlines, to create co-brand programs that will meet the changing preferences and demands of consumers in Southeast Asia. With research from the Mastercard Economic Institute showing that consumers are increasingly prioritizing their travel spend on experiences over goods, Mastercard’s Priceless program aligns closely with the desires of SIA’s international audiences, giving them the opportunity to indulge in unique and exclusive experiences and create unforgettable memories.”

The partnership will also see SIA benefit from Mastercard’s suite of data and services capabilities. These include Mastercard’s Data Analytics & Consulting, which helps businesses understand market and consumer trends and uncover new opportunities, as well as innovative technology such as market-leading experimentation platform Test & Learn, user verification software NuDetect and the Mastercard Payment Gateway Services (MPGS) payment processing platform.

Deborah Heng added: “Mastercard’s data and services solutions draw on Mastercard’s innovative technology, rich expertise and deep data insights to help customers make smarter decisions. Mastercard is pleased to bring this expertise to the partnership, allowing both partners to give consumers a richer and more elevated experience, building brand loyalty and driving positive business outcomes.”

The first product under the new partnership was launched earlier this year in Thailand with the UOB KrisFlyer World and UOB KrisFlyer World Elite Credit Cards. They offer exceptional KrisFlyer miles earn rates and travel benefits, including complimentary limousines services to and from airports around the world and access to airport lounges, among other benefits.

Co-Founder & Chief Editor - TravelDailyNews Media Network | + Articles

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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