UOB, Shopee sign MOU to offer exclusive perks to customers

UOB One credit and debit card users can enjoy cash rebates of up to 10%.

United Overseas Bank (UOB) and Shopee have signed a memorandum of understanding (MOU) to offer customers perks when they use the UOB One credit or debit cards to make purchases on the e-commerce platform’s online marketplace.

Customers can enjoy exclusive deals and cash rebates of up to 10% when they charge their purchases on Shopee to their UOB One Card, according to a joint press release by UOB and Shopee.

UOB and Shopee will also explore the use of data analytics and APIs to personalise the customer experience as they shop online and to offer digital payment options that are relevant to the consumer, such as using reward points to offset their purchases.

This could lead to initiatives such as the integration of Shopee’s features on UOB’s all-in-one mobile banking app, UOB Mighty or vice versa, they said.

Since the start of the year, spend on retail purchases made online by UOB cardmembers has grown close to 50% YoY, the bank shared. Online spend notably surged 69% YoY in the second quarter, when Singapore underwent a circuit breaker period.

Shopee was noted to be the preferred choice of UOB cardmembers, with spend made on the e-commerce platform outpacing other online marketplaces for the year. For example, spend at Shopee made by cardmembers of UOB’s flagship cashback credit card, the UOB One Card tripled between 2019 and September 2020, the banking giant revealed.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia