12 August 1999

OUB Global Debit MasterCard, the First and Only Debit Card in Singapore with Internet and Phone Shopping Facilities


12 August 1999, Singapore --Singapore Internet access services provider (IASP), CyberWay and premier consumer bank Overseas Union Bank (OUB) today announced details of a joint promotion to offer Singaporeans the ease, flexibility and conveniences of shopping via the Internet. The first 500 to sign up and use the OUB Global Debit MasterCard will enjoy one year`s free Internet access to CyberWay`s i-lite package valued at $90. This package allows up to 19 hours of internet usage per month based on off-peak hours*.

The OUB Global Debit MasterCard is the first debit card in Singapore to offer on-line shopping conveniences. Launched in April this year, the OUB Global Debit MasterCard is the first innovative payment product in the Asia Pacific packaged for the Internet generation and those who have yet to qualify for credit cards.

OUB Vice President, Strategic Marketing Karen Ngui said, "This promotion further reinforces OUB2000 - our vision to deliver forward-looking and innovative banking services anytime, anywhere. Our Cardmembers can now enjoy greater `virtual` conveniences for Internet transactions and purchases, such as hotel and car rental reservations."

CyberWay`s General Manager, Mr Tan Tong Hai said, "We are very pleased to work with OUB to promote on-line shopping conveniences to a growing market of net-savvy customers. This promotion is in line with CyberWay`s efforts to support the government`s move towards a cashless society by encouraging and facilitating a Net economy and e-commerce."

The OUB Global Debit MasterCard allows Cardmembers to sign for purchases by drawing down directly from their OUB Global Debit MasterCard deposit accounts. It is the only debit card which can be used at electronic terminals (on-line) as well as with manual card imprinters (off-line). Cardmembers can use the card to pay for goods and services at over 16 million merchant outlets and 460,000 MasterCard automated teller machines (ATMs) around the world.


* Off peak hours: Mondays to Fridays: 8pm-8am, Saturdays, Sundays and public holidays: all-day.