BAY extending yellow points programme
Bank of Ayudhya is broadening its Yellow Points programme from transactions via ATM and debit cards to lending products at the bank and its subsidiaries, in order to boost active usage. BAY introduced the points-accumulation programme four years ago, but
Until now, points have been collected automatically from ATM and electronic transactions such as bill payments. An average of just three or four points are gained per customer per month.
Now, apart from expanding the number of channels, the bank is offering 30 Yellow Points to customers who transfer funds via ATM, and 25 points for those who pay a bill by the same means. Just one point was earned previously from each of these transactions.
BAY has about 8 million retail customers, of which some 3 million participate in Yellow Points, accounting for more than 10 million points each month.
However, redemption last year was only in the region of 1 million to 1.5 million points.
Harsono said the bank now considered that Yellow Points should also be accumulated through the transactions of small and medium-sized enterprises, credit cards, personal loans and insurance.
Customers will be able to convert bonus points from those products into Yellow Points, and vice versa.
The bank hopes the increase in point-accumulation channels and attractive rewards will boost plastic-card usage and points spending, and will bring in an additional 1 million participants in the Yellow Points campaign – half of them new clients.
Redemption volume, meanwhile, is expected to double within 12 months, he added.
BAY aims to expand the Yellow Points programme to its subsidiaries – Krungsri Auto, Krungsri First Choice and Srisawad Ngern Tid Lor – by the end of the year.
