In a move that may entice some customers away from EFTPOS, Westpac says it's launching New Zealand's first airpoints earning debit card.
Westpac says its new debit card works like an EFTPOS card, drawing funds directly from a customer’s transaction account such as a cheque account.
The MasterCard debit card can be used online, over the phone and overseas. Customers will earn one airpoints dollar for every $250 spent on the card, and receive a PayTag contactless payment sticker for their mobile phone, through which they can pay for items that cost less than $80.
Westpac replaced BNZ as one of Air New Zealand's airpoints partners in May. Westpac also offers four airpoints credit cards including a business card, and an airpoints earning home loan. The bank's airpoints earning credit cards offer one airpoint for between every $65 to $120 spent.
To earn airpoints dollars with the debit card, Westpac customers will need an eligible personal transaction account with a minimum of $500 deposited monthly.
“We have had excellent growth with the airpoints programme and we expect that to continue with the debit card where customers, who prefer to pay with their own money, can still earn rewards," Shane Howell, Westpac's chief products officer said.
However, the push towards contactless MasterCard debit cards, and away from EFTPOS, is unlikely to thrill retailers because they don't pay a specific transaction cost for EFTPOS transactions but will be expected to for MasterCard ones.
2 Comments
Westpac, Airbnb team up to target home owners
And just when you thought the log was hollow, what's this, a thoughtful help to bring people together or, make servicing on the mega mortgage...
"We're thrilled to work with Westpac – we know that so many people love celebrating their home with friends and family but there's often just no space for them to stay. With more than 50,000 Airbnb properties around the country we're well placed to lend a hand," Sam McDonagh, Airbnb's Australian general manager, said.
Many users on Twitter have responded to Westpac and Airbnb's campaign with cynicism, with some calling the conversation a "bizarre exchange", "dishonest" and "fake".
"Corny advertising, as a Westpac client I guess I'm helping to pay for it," @kentparkstreet said.
Others responded with humour. "Would you two please just go and get a room together :) ," asked @Early_GreyT.
Tony Lee, strategy director at digital agency ntegrity, said the way Westpac and Airbnb have conducted their Twitter conversation so far have led people to think that it "might not be an authentic piece of information".
Read more: http://www.smh.com.au/business/banking-and-finance/westpac-airbnb-team-…
Follow us: @smh on Twitter | sydneymorningherald on Facebook
well I never...
I just stayed in Edinburgh, the owner of the apartment was paying the mortgage with Airbnb. Making up to £2000 pounds a month, the cost of renting similar apartment was £700 a month, she had two rooms.
Medium term Airbnb is going to drive down the cost of accommodation for travellers. My daughter got married in Cornwall and she arranged all accommodation via Airbnb, it was a game changer and it's only in it's infancy. Like Uber with 12500 drivers in London, it's impact has to be monumental for established businesses, anyone want to buy a Motel in Tauranga?
Around here in NZ ,there were a lot of places on Airbnb for $80 a night a year ago today it's more like $40 and I suspect still falling.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.