CIMB unveils strategic partnership with Tesco Malaysia
31 March 2016
All-round benefits for Tesco customers, who will gain access to selected CIMB products at in-store service kiosks as well as up to 5% monthly cash rebate with CIMB Tesco MasterCard
Petaling Jaya: CIMB Bank Berhad (“CIMB”) and Malaysia’s leading retailer, Tesco Stores (Malaysia) Sdn. Bhd. (“Tesco Malaysia”) have announced an exclusive five-year strategic partnership, which was formalised today through a launch ceremony between Tengku Dato' Sri Zafrul Aziz, Group Chief Executive, CIMB Group and Paul Ritchie, Chief Executive Officer, Tesco Malaysia at Tesco Extra Mutiara Damansara.
The result of this partnership is the new CIMB Tesco MasterCard and new CIMB Bank kiosks that would give Tesco shoppers a value-added shopping-banking experience. Cardmembers will receive up to 5% cash rebate on Tesco spending including Tesco’s online store and additional Tesco Clubcard Points when they use the CIMB Tesco MasterCard.
Tengku Dato' Sri Zafrul Aziz said, “The partnership between CIMB and Tesco Malaysia represents a winning formula in delivering value to our customers. Being able to bring our vast suite of products, through a seamless and paperless process to Tesco stores make for a truly compelling value proposition to customers both current and new. We genuinely believe that this partnership is the start of many great things ahead.”
“With this partnership, we’re bringing the best of two companies to enhance and add EXTRA value to our customer’s shopping trip. With Tesco’s variety in range at fantastic promotions and good prices and CIMB’s strengths in the Financial and Banking sector, together we’ll be able to reward our customers and create value to earn their long-term loyalty,” said Paul Ritchie.
New CIMB Tesco MasterCard members will enjoy an annual fee waiver. From 1 April 2016 to 31 March 2017, 1 Tesco Clubcard point will be awarded for every RM2 spent on the CIMB Tesco MasterCard at other retail outlets. On top of that, every successful CIMB Tesco MasterCard sign-up from 1 April to 31 May 2016 will receive a RM50 cash rebate with a minimum spend of RM200 within 30 days of card activation.
The CIMB Bank kiosks will be set up in 38 Tesco stores nationwide and will provide shoppers seamless access to a suite of CIMB Bank and CIMB Islamic products which will be continuously expanded over time. These kiosks will operate daily from 11am to 8pm.
This partnership will greatly benefit Tesco Malaysia’s 3 million weekly customers via access to CIMB’s extensive product suite and network.
Tengku Dato' Sri Zafrul Aziz, Group Chief Executive, CIMB Group (second left) and Paul Ritchie, Chief Executive Officer, Tesco Malaysia (second right) flanked by showbiz personalities Shaheizy (left) and Yana (right) revealing the new CIMB Bank kiosk and CIMB Tesco MasterCard at the launch ceremony of CIMB Tesco Strategic Partnership. The exclusive five-year strategic partnership will give Tesco shoppers a value-added shopping-banking experience, with access to CIMB’s extensive product suite and network.
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