SINGAPORE, 5 May 2015 – EZ-Link Pte Ltd, Singapore’s largest issuer of CEPAS-compliant cards, today officially launched the TRUST Programme to strengthen protection for consumers purchasing prepaid packages for spa and wellness services and products and instil greater confidence in the operators of this industry.
Supported and endorsed by the Consumers Association of Singapore (CASE), CaseTrust and the Spa and Wellness Association of Singapore (SWAS), the TRUST Programme features EZ-Link as the custodian of funds through the bank partner to give consumers the confidence of obtaining refunds of un-utilised values in their prepaid packages, should their merchants cease operations.
In addition, the programme offers consumers another payment option through Instalment Payment Plan (IPP), enabling them to enjoy greater flexibility and control of their personal cash flow when they purchase prepaid packages.
For merchants, compared to existing costly insurance scheme that they have to purchase, TRUST eliminates the need for upfront premium payment, lengthy sign-up time, underwriting of financial statements, bankers guarantee, cash collaterals, manual administration and annual renewal, while providing marketing communications support to brand and promote products and the ability to access and assess prepaid package performance to enhance offerings.
Consumers who purchase prepaid packages with any participating TRUST Programme merchant will be given a TRUST Card. They can enjoy the convenience of redeeming their prepaid packages; view account balance, transaction history and expiry dates of their prepaid packages; and temporary suspend or reactivate their card. Cardholders are able to purchase and store multiple prepaid packages in one TRUST Card.
The TRUST Card
“EZ-Link is proud to collaborate with CaseTrust and SWAS to introduce the TRUST Programme for the spa and wellness industry. Leveraging our extensive experience as a funds manager and payment provider, we aim to protect consumers’ prepayments and ensure them peace of mind while they enjoy their wellness treatments; as well as help merchants build a trusting relationship with their customers,” said Mr. Nicholas Lee, CEO of EZ-Link Pte Ltd. “Besides the spa and wellness industry, the design of this programme is also well suited for other industries with prepaid payment options.”
“We are happy to work together with EZ-Link Pte Ltd as they have substantial experience in managing floating funds. SWAS has always been supportive in encouraging their members to take up insurance plans to protect their customers, but this may not be sufficient. With the implementation of the TRUST programme, consumers will have an additional form of protection for the purchase of pre-paid packages, thus giving them greater assurance and ease of mind when patronising a spa and wellness business. This will boost industry standards and ultimately benefit both the consumers and the business operators,” said Mr Lim Biow Chuan, President of CASE.
“As the representative of stakeholders in the beauty, spa and wellness industry, SWAS wants to ensure that the interests of business owners and their customers are protected. SWAS is pleased to support the TRUST programme as an alternative to the existing spa insurance scheme, which is not cost-efficient for smaller establishments in the industry, and encourage businesses to consider the merit of the programme,” said Mr Edward Wong, Honorary Secretary of SWAS.
For more information on the TRUST Programme, interested consumers and merchants can visit www.thetrustcard.com.sgor contact EZ-Link at +65 6496 8300.