MSN rolls out credit card for web users

<P>MSN has partnered with Liu Chong Hing (LCH) Bank to launch a co-branded credit card, in a bid to strengthen its connection with internet users. </P> <P><br><br><BR>The 'Platinum' and 'Classic' <A href="mailto:MSN@Visa">MSN@Visa</A> cards will carry MSN's branding, with the former utilising the MSN motif and the latter using the MSN icon for Messenger. Targeted at consumers using the web for shopping and banking, the initiative also includes an online portal which offers special services, gifts, competitions, cash rebates and food and beverage discount vouchers. Leslie Chu, MSN Hong Kong head, said: "(The cards) will provide a bridge between the virtual and real worlds for MSN users, helping MSN to deepen its relationship with them beyond the web."</P> <P><br><br><BR>The financial institution, meanwhile, will be responsible for card issuing, product development, features and offers, administration, operations and marketing, according to Felton Lau, executive director, LCH Bank, with MSN contributing to online operations. "It will help LCH explore the young customer market, a target segment with high spending power and a high propensity for internet shopping and banking services," he said.</P> <P><br><br><BR>A marketing campaign will support the card's launch over the next few months, comprising print, outdoor, POS collaterals and digital. According to a Visa and ACNielsen study, Hong Kong's crop of 714,000 online spenders is expected to grow by 20 per cent by 2007.</P>