**One of the first markets in HSBC Group to launch a new lifestyle credit card globally**
**Enjoy a 15% discount at over 200 restaurants across Asia all year round**
HSBC Philippines recently introduced HSBC Live+ Credit Card, designed to enhance the lifestyle experiences of internationally-minded customers. HSBC Live+ Credit Card provides rewards tailored to lifestyle spending and reflects HSBC’s focus on providing innovative solutions that help customers earn more rewards while enjoying quality experiences.
Launched in partnership with Visa, HSBC Live+ cardholders are entitled to dining perks across Asia, through the Live+ Dining Programme[1]. The card offers discounts starting at 15% off at restaurants across Asia in addition to an enhanced cashback* of up to 8% on spending in three categories: dining, shopping and entertainment:
- Exclusive dining discounts: Enjoy a 15% discount all year round at over 200 restaurants across Asia[2] serving a variety of cuisines through our curated Live+ Dining Programme. Plus, an 8% cashback*
- Shopping: Enjoy 5% cashback* at retail shops, departmental stores, and online marketplaces
- Entertainment: Enjoy 5% cashback* on entertainment spending at cinemas and on your favorite streaming subscriptions including Netflix, Disney+, and Spotify
According to the spending data by HSBC-Visa cardholders[3], spending on food is a top priority for Asians, with restaurants and food-related expenses ranking in the top three spending categories in seven out of eight markets. This underscores the significance of dining in the region and the value that the HSBC Live+ Credit Card brings to its cardholders.
Despite of continuous inflation, the Filipino consumer has gone beyond covering the bare essentials and is now spending on goods and services that make daily living more convenient, and perhaps, more fun.[4]
The Philippines is one of the first markets to introduce the HSBC Live+ Credit Card, with subsequent launches planned in multiple markets globally this year. This underscores HSBC’s ambitions to expand its consumer unsecured lending business in South and Southeast Asia, capturing the opportunities from the rising consumption power of the fast-growing mid-segment and affluent populations who enjoy international exposure. Taylan Turan, CEO, of Retail Banking, at HSBC, said, “As an international bank with close to 150 years of experience, we combine our global expertise and knowledge to design products that meet local customers’ needs, such as our new Live+ Credit Card. As wealth creation drives more spending among the middle class and emerging affluent segments, we designed Live+ to offer outstanding lifestyle experiences and accessible rewards
that resonate with our customers. We’re excited to bring this card to the Philippines, where we have been investing in our wealth and personal banking capabilities and look forward to expanding Live+ into other dynamic global markets.”
Peter Faulhaber, Head of Wealth and Personal Banking, HSBC Philippines, said, “The evolution of cashback shopping now extends to lifestyle choices. Consumers are increasingly discerning, seeking value while enjoying quality experiences across dining, shopping, and entertainment. HSBC’s new lifestyle credit card, Live+, allows cardholders to enjoy delightful culinary experiences through a wide selection of restaurants, both here and overseas. It not only enhances their dining adventures but also provides rewarding cashback on shopping and entertainment, meeting their diverse spending needs“
Jeff Navarro, Country Manager from Visa added, “We are pleased to partner with HSBC Philippines to launch the HSBC Live+ credit card to consumers. According to Visa’s data, dining at restaurants and shopping for retail goods continue to be among the top spending categories for Philippine cardholders. Philippine consumers spend most at restaurants, and on shopping for retail goods and apparel. This aligns with the lifestyle proposition of the HSBC Live+ card, so consumers can enjoy their dining experiences and maximize the rewards earned on these key categories. At Visa, we constantly work with our partners to avail the best rewards for consumers that are most relevant and important to them and provide seamless and secure payment experiences when they shop and pay with Visa.”
The launch of HSBC Live+ Credit Card underscores HSBC’s ambition to become Asia’s leading wealth manager and international retail bank and strengthens its capabilities in the Philippines to support its affluent and international clients. HSBC continues to invest in the Philippines aimed at enhancing its digital capabilities and improving customer experiences to meet the wealth and global banking needs of our clients.
From today, residents who are 21 years old or above with an annual income of Php 500,000 can apply for the HSBC Live+ credit card via HSBC Philippines’s official website https://www.hsbc.com.ph/liveplus/.
[1] https://www.hsbc.com.ph/credit-cards/offers/regional-live-plus-dining/
[2] https://www.hsbc.com.ph/credit-cards/offers/regional-live-plus-dining/
[3] Source: VisaNet data from April 2023 to March 2024
[4] HSBC Global Research: Onto nicer things: The Philippe consumer’s shifting priorities, May 2024
