Visa Singapore

Convenience and Rewards on the Cards with Visa and NTUC FairPrice

Press release   •   Jun 07, 2011 17:55 +08

Visa survey shows consumers prefer card payment at supermarkets; NTUC FairPrice supermarkets island-wide now accept Visa cards

Singapore’s leading supermarket chain NTUC FairPrice is giving shoppers a convenient, fast, secure and rewarding way to pay with Visa payment card acceptance at all NTUC FairPrice stores island-wide starting today. 
 
According to a Visa survey[1] on payment card usage habits at supermarkets in Singapore, two in five consumers (42 percent) use cash most often when paying for their purchases, but 49 percent would prefer paying for groceries with payment cards[2].
 
Although payment with cash at supermarkets is still prevalent, with payment card acceptance widespread in Singaporean supermarkets, cards are set to displace cash as the most popular payment method for grocery shopping. Among the most common electronic payment card options available to consumers, credit cards (39 percent) are the preferred way to pay for groceries, followed by ATM cards (28 percent) and cash (22 percent).
 
Meranda Chan, country manager, Singapore and Brunei, Visa, said: "While cash is still used most often, our survey shows that consumers welcome card payment for groceries, as it offers greater convenience and is a more rewarding way to pay. With that in mind, we are proud to work with NTUC FairPrice to offer shoppers a smarter way to pay for everyday goods with their Visa cards."
 
Grocery shoppers who responded to the survey said they prefer to use cards to pay because of the ability to earn rewards/loyalty points (83 percent) and enjoy direct discounts or other benefits (56 percent). More than one in two consumers (55 percent) also said using credit cards was more convenient than using cash, and 50 percent already use credit cards for big expense items and routine shopping.
 
Seah Kian Peng, CEO (Singapore), NTUC FairPrice, said: "Convenience has always been one of the top factors for grocery shoppers when they choose where to buy their groceries. Through FairPrice’s latest partnership with Visa, we take a step forward in offering greater convenience for our customers along with the assurance to provide best value, quality products and excellent service."
 
[1] The Visa cards acceptance at modern trade Singapore survey was conducted by The Nielsen Company from 13 to 21 April 2011. Three hundred respondents aged 25 years and above were interviewed online about their current and preferred payment methods at major supermarket chains in Singapore. All respondents shopped at supermarkets/hypermarkets at least once a week. [2] Payment cards include credit cards, debit cards and prepaid cards.