6th September 2023 - 3 min read
Alliance Bank has partnered with WOW Fintech to integrate the bank’s existing Alliance Bank Visa Virtual Credit Card (VCC) with Dynamic Card Number (DCN) into WOW Fintech’s WOWNations loyalty app. With this, those who use the WOWNations app will be able to apply for and access the Alliance Bank Visa VCC directly on the platform, instead of having to do so separately on another banking app.
In a statement, Alliance Bank said that this partnership will allow it to extend the reach of its unique virtual credit card to more individuals in the consumer banking segment, which is in line with its Acceler8 strategy. Among other perks, cardholders can enjoy the enhanced security features offered by the Alliance Bank Visa VCC – which includes being able to generate “short-term” cards and “sub cards” for their online purchases – as well as earn up to 8x Timeless Bonus Points (TBP) for every RM1 spent on selected purchases.
At the same time, customers can also participate in the WOWNations loyalty programme and earn loyalty points when they access the VCC through the app – thereby enjoying double the benefits. The WOWPoints earned can then be used to redeem various items for their lifestyle needs, such as food and shopping.
“The collaboration with WOW Fintech enables us to deliver on our ‘Bank In Your Pocket’ proposition to more digitally savvy customers, helping them to address concerns of fraudulent risks and identity thefts. At the same time, the customers stand to benefit when they use the bank’s VCC via the WOWNations loyalty app,” said the group chief executive officer of Alliance Bank, Kellee Kam when announcing the partnership.
Similarly, group managing director of WOW Fintech, Datuk Sunny Tan said that the partnership with Alliance Bank is in line with its mission to cultivate innovation and drive positive change. “Our vision is to empower Malaysians with smart financial solutions, and through strategic partnerships and technological advancement, we are committed to shaping a brighter and more prosperous future,” he said.
If you’d like to apply for and use the Alliance Bank Visa VCC via the WOWNations app, simply download the app and register for a new account. From there, click on “Virtual credit card”, and proceed with the standard electronic Know Your Customer (eKYC) procedure; you may also be required to provide relevant supporting documents, such as your payslips and EPF statements.
Once your VCC has been approved (may take up to 48 hours), you can go ahead and begin shopping on the WOWNations app! To further sweeten the deal, Alliance Bank and WOW Fintech are also offering RM300 worth of WOWNations points for every successful sign-up of the Alliance Bank Visa VCC via the WOWNations app.
The Alliance Bank Visa VCC was first launched back in April this year, and it is the first virtual card in Malaysia with an in-app Dynamic Card Number (DCN) feature. This allows cardholders to generate a randomised 16-digit number for their digital transactions, thereby offering an increased peace of mind for customers – especially in the current climate with increased online fraud. Since the initial launch its virtual credit card, Alliance Bank noted that it has registered a 25% increase in its credit card user base.
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