Sammyboy RSS Feed
06-05-2015, 02:00 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
Today 12:07 AM http://sgtalk.org/mybb/images/mobile/posted_0.gif Post: #1 (http://sgtalk.org/mybb/Thread-EZ-link-launches-programme-to-protect-spa-wellness-consumers?pid=1089310#pid1089310) reiko (http://sgtalk.org/mybb/User-reiko) http://sgtalk.org/mybb/images/buddy_online.gif (http://sgtalk.org/mybb/online.php)
Guru
http://avatarfiles.alphacoders.com/118/11868.jpg?dateline=1427683444 (http://sgtalk.org/mybb/User-reiko)
Posts: 22,095
Reputation: 49 (http://sgtalk.org/mybb/reputation.php?uid=3660) http://www.channelnewsasia.com/news/...tml?cid=twtcna (http://www.channelnewsasia.com/news/singapore/ez-link-launches/1826452.html?cid=twtcna)
Quote:SINGAPORE: A programme that promises to safeguard consumers' purchases of spa and wellness prepaid packages was launched by EZ-Link on Tuesday (May 5). Under the TRUST Programme, consumers can pay for their packages and have EZ-Link hold the funds until the packages are redeemed.
This means that should a merchant cease operations, EZ-Link will be able to stop payment and refund un-utilised values in prepaid pacakges to the consumer.
The programme is supported and endorsed by the Consumers Association of Singapore (CASE), CaseTrust and the Spa and Wellness Association of Singapore (SWAS).
Consumers will be given a TRUST card when they purchase prepaid packages with any participating TRUST Programme merchant. They can access information such as account balance, transaction history and expiry dates of their packages online. In addition, the programme allows customers the option to pay in instalments.
"In recent years, there have been cases of spa and wellness outlets closing down suddenly, leading to many customers losing up to thousands of dollars they have invested into prepaid spa and wellness packages. These incidents have somewhat shaken consumers’ confidence in signing up for prepaid packages especially those of high value," said CEO of EZ Link Nicholas Lee.
"EZ-Link has identified the need for assurance amongst this group of consumers, using its extensive experience and expertise as a funds manager and payment provider."
EZ-Link said in its news release that TRUST eliminates the need for upfront premium payment, underwriting of financial statements, bankers guarantee and other collaterals for merchants. There are currently 12 merchants who have expressed interest in taking part, EZ-Link said.
President of CASE Lim Biow Chuan said EZ-Link has "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," he said. Mr Lim said the programme will boost industry standards, and ultimately benefit consumers and business operators.
Click here to view the whole thread at www.sammyboy.com (http://singsupplies.com/showthread.php?206159-EZ-link-launches-programme-to-protect-spa-wellness-consumers&goto=newpost).
Today 12:07 AM http://sgtalk.org/mybb/images/mobile/posted_0.gif Post: #1 (http://sgtalk.org/mybb/Thread-EZ-link-launches-programme-to-protect-spa-wellness-consumers?pid=1089310#pid1089310) reiko (http://sgtalk.org/mybb/User-reiko) http://sgtalk.org/mybb/images/buddy_online.gif (http://sgtalk.org/mybb/online.php)
Guru
http://avatarfiles.alphacoders.com/118/11868.jpg?dateline=1427683444 (http://sgtalk.org/mybb/User-reiko)
Posts: 22,095
Reputation: 49 (http://sgtalk.org/mybb/reputation.php?uid=3660) http://www.channelnewsasia.com/news/...tml?cid=twtcna (http://www.channelnewsasia.com/news/singapore/ez-link-launches/1826452.html?cid=twtcna)
Quote:SINGAPORE: A programme that promises to safeguard consumers' purchases of spa and wellness prepaid packages was launched by EZ-Link on Tuesday (May 5). Under the TRUST Programme, consumers can pay for their packages and have EZ-Link hold the funds until the packages are redeemed.
This means that should a merchant cease operations, EZ-Link will be able to stop payment and refund un-utilised values in prepaid pacakges to the consumer.
The programme is supported and endorsed by the Consumers Association of Singapore (CASE), CaseTrust and the Spa and Wellness Association of Singapore (SWAS).
Consumers will be given a TRUST card when they purchase prepaid packages with any participating TRUST Programme merchant. They can access information such as account balance, transaction history and expiry dates of their packages online. In addition, the programme allows customers the option to pay in instalments.
"In recent years, there have been cases of spa and wellness outlets closing down suddenly, leading to many customers losing up to thousands of dollars they have invested into prepaid spa and wellness packages. These incidents have somewhat shaken consumers’ confidence in signing up for prepaid packages especially those of high value," said CEO of EZ Link Nicholas Lee.
"EZ-Link has identified the need for assurance amongst this group of consumers, using its extensive experience and expertise as a funds manager and payment provider."
EZ-Link said in its news release that TRUST eliminates the need for upfront premium payment, underwriting of financial statements, bankers guarantee and other collaterals for merchants. There are currently 12 merchants who have expressed interest in taking part, EZ-Link said.
President of CASE Lim Biow Chuan said EZ-Link has "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," he said. Mr Lim said the programme will boost industry standards, and ultimately benefit consumers and business operators.
Click here to view the whole thread at www.sammyboy.com (http://singsupplies.com/showthread.php?206159-EZ-link-launches-programme-to-protect-spa-wellness-consumers&goto=newpost).