Jan 18, 2022 | Business
AEON Credit Service (Asia) Limited (“AEON Credit Service” or the “Group”; stock code: 00900) has launched a number of credit card offers to help customers cope with the new wave of the pandemic as well as welcome the traditional Chinese New Year shopping season.
AEON Credit Service has always put customers first and is committed to providing the most suitable offers to ensure a superior user experience. In light of the outbreak of the fifth wave of the pandemic and the approach of the Chinese New Year shopping season, the Group has decided to launch special offers for local food & beverage and overseas purchases in Japan both online and offline made with AEON credit cards, allowing customers to enjoy up to 10X bonus points*, equivalent to 4% cash rebate, for shopping and eating comfortably at home with peace of mind amid the tightening of social distancing measures. In addition, AEON credit card customers can earn extra bonus points when making purchases at AEON Stores. Details of these offers are listed below:
Up to 10X Bonus Points for Local Dining and Online Shopping
From 11 January to 10 July 2022, AEON credit card customers can earn 5X bonus points, equivalent to 2% cash rebate for local food & beverage (applicable to both dine-ins and takeaways), and overseas purchases in Japan both online and offline Upon reaching the total monthly spending of HK$5,000, the above-designated categories’ transactions can earn 10X bonus points, equivalent to 4% cash rebate; while AEON Card Premium customers can enjoy 10X bonus points on the above-designated categories.
Up to 3X Bonus Points for AEON Store Purchases
Customers can enjoy 2X bonus points when making purchases at AEON Stores with AEON Credit Card and 3X bonus points with AEON Card Premium. On the 10th day of each month during the promotional period, additional 10X bonus points can be earned. From 14 January to 20 February 2022, up to HK$300 cash coupon will be rewarded upon purchase of any combination set from a designated series of household items and electrical appliances.
The Group has launched these credit card offers to meet the daily needs of customers while fighting the pandemic, allowing them to enjoy shopping and dining during the Chinese New Year and effectively stimulating consumption. AEON Credit Service will continue to implement flexible promotional strategies to respond quickly to market changes and adapt to changes in customers’ lifestyles and consumption patterns. It will also continue to optimise user experience to capture market opportunities and drive stronger business growth.
*AEON Credit Card 10X Bonus Points Rewards offer is applicable to the first HK$5,000 of each monthly statement of each eligible credit card for designated categories of purchase transactions. Terms and conditions apply. For details, visit the company website: www.aeon.com.hk.
About AEON Credit Service (Asia) Company Limited (HKEX: 00900)
AEON Credit Service (Asia) Company Limited, a subsidiary of AEON Financial Service Co., Ltd. (TSE: 8570) and a member of the AEON Group, was set up in 1987 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in 1995. The Group is principally engaged in the consumer finance business, which includes the issuance of credit cards and the provision of personal loan financing, card payment processing services, insurance agency and brokerage business in Hong Kong and microfinance business in Mainland China.
For more information, please visit the company’s website at www.aeon.com.hk.
Topic: Press release summary
Jan 14, 2022 | Business
CreDA (Credit DeFi Alliance), the leading decentralized credit rating service and FilDA, the largest ever DeFi lending platform on HECO with a peak TVL of over US$2 billion, have partnered to offer exclusive lending rates to CreDA users. Users who mint their Crypto Credit Score as a Credit NFT (cNFT) will have access to leveraged lending and low or no-collateral loans directly within the CreDA platform.
The partnership comes only a few months after CreDA officially launched its platform and demonstrates the value Crypto Credit Scores can have by removing many of the barriers in traditional banking and the DeFi space. According to Bank of America, over 200 million users are now part of the digital asset universe, yet very few financial institutions would provide them with a loan. Even within the DeFi space, lenders operate in an over-collateralized manner with typical loan-to-value (LTV) ratios below 50 per cent.
Modeled after traditional consumer credit agencies, CreDA introduces the concept of personal credit scores into the $250 billion decentralized finance (DeFi) ecosystem.
Leveraging existing blockchain infrastructure, CreDA provides a trust architecture for the relatively young and volatile MetaFi ecosystem that includes emerging areas such as DeFi, GameFi and SocialFi.
“While our core business is focused on supporting the overall ecosystem through trusted and verifiable credit scoring, ours is a new concept for this space. By partnering with FilDA we hope to demonstrate the value and viability of the CreDA Credit Score to reward both users and lending institutions by brokering more transparent and trusted relationships,” explains Fakhul Miah, incoming Chief Executive Officer. “We like to say that we’re finally giving credit where credit is due.”
How to get leveraged, low or no-collateral loans
CreDA allows users to link their wallets, mint a credit NFT (cNFT) and borrow at industry-defying rates, all from within the same platform.
CreDA provides on-chain credit ratings using the CreDA Oracle, which employs artificial intelligence (AI) to examine the user’s assets, historical transactions and behavior in the crypto space across multiple blockchains. This data is used to calculate a credit score that is then minted into a secure non-fungible token called a credit NFT (cNFT). The cNFT enables the user to unlock preferential rates and incentives.
The FilDA partnership lets users access leveraged lending and low or even no-collateral loans based on the users Crypto Credit Score. The score represents a user’s ability and willingness to pay back loans, de-risking Filda’s exposure and rewarding the user for good on-chain behavior.
One major focus for CreDA is ensuring a safe and secure experience for users. To do this, data is fully protected, secured by industry leading, W3C compliant Decentralized Identifications (DIDs), which are linked to a user’s cNFT. CreDA recently underwent a strict security audit with leading blockchain security group, CertiK.
About CreDA
Built on the Ethereum Layer 2 network, CreDA operates on Arbitrum with developers aiming to launch across multiple chains including, BSC (Binance Smart Chain), Ethereum mainnet and ESC (Elastos Sidechain) in Q1 of 2022 with more to follow throughout the year.
CreDA’s Credit Oracle has already retrieved the data of billions of on-chain activities related to more than 90 million addresses across the largest blockchains. This large initial data pool helps to build a reliable and trusted credit model that will continue improving as more data is collected from additional chains and users who connect and mint their credit scores. The CreDA protocol is designed to compute a user’s Crypto Credit Score while protecting their identity through the use of a DID, which does away with KYC (know your customer) checks.
The aim for the CreDA protocol is to eventually combine traditional (off-chain) and blockchain (on-chain) data to compute a holistic user credit score that allows for more flexibility and access between people’s virtual and ‘real world’ lives. This will become even more relevant as technology advances and society continues to embrace virtual spaces, such as the Metaverse.
“As Benjamin Franklin once said, ‘If you want to know the value of money, try borrowing some!’ said Cassie Zhang, Chief Operating Officer during CreDA’s launch in late 2021.
“The DeFi landscape is quickly evolving, but there is still one factor that is missing — credibility. The CreDA protocol enables DeFi and other Web 3 platforms to model risk profiles across their user base and offer personalized rates and services, making them more competitive versus industry peers.”
Social Links
Twitter: https://twitter.com/credafinance
LinkedIn: https://www.linkedin.com/company/creda-finance
Discord: https://discord.com/invite/eSvTm6a6kb
Media Contact
CreDA (Credit DeFi Alliance)
E-mail: press@creda.app
Website: www.creda.app
SOURCE: CreDA
Topic: Press release summary
Dec 23, 2021 | Business
AEON Credit Service (Asia) Company Limited (“AEON Credit” or the “Group”; HKEX: 00900) announced today its unaudited results for the nine months ended 30 November 2021 (“nine months of FY2021/22”).
Despite the unprecedented headwinds from the pandemic, the launch of various promotion programs to capture recovering credit card spending, resulted in sales for the nine months of FY2021/22 increasing by 21.0% year-on-year. However, this surge in credit card sales had yet to start pushing revolving credit card balances and personal loan receivables back up to pre-pandemic level. As a result, revenue was down 8.3% year-on-year to HK$770.3 million. Nonetheless, due to continuous efforts to refine its credit assessment process, the Group has built a healthy credit portfolio. With the economic situation and the unemployment rate continuing to improve, along with the Group’s debt management efforts to reduce overdue advances and receivables proving effective, impairment losses and impairment allowances significantly dropped 63.4% year-on-year to HK$65.0 million. Consequently, the Group’s profit after tax rose to HK$243.3 million, representing an increase of 5.6%. Earnings per share increased from 55.01 HK cents to 58.09 HK cents.
In confronting the continuous challenges of the pandemic and to remain competitive amid rapidly shifting consumer spending behavior, the Group launched various promotion programs to capture opportunities arising from the recovery in credit card spending. Following the overwhelming success of the Ocean Park promotion, the Group launched another promotion offering 10-times bonus points for local dining and online spending over the three months ending 30 November 2021 (the “third quarter”). Moreover, a tailored tax loan rebate program was launched with the aim of expanding the personal loan customer base.
In the third quarter, the Group launched the acquiring service for AEON Stores (Hong Kong) Company Limited (“AEON Stores”), which involves processing non-AEON credit card purchases inside AEON Stores. The Group also enhanced the functions of the AEON HK Mobile App, which now includes direct debit authorization and permits changing of personal identification numbers. The Group will continue to develop additional new functions for the App to enhance the customer experience, as well as develop new cards and a new loan system.
Looking ahead, the unemployment rate in Hong Kong is expected to remain stable, providing potential opportunities for the Group to continue to expand its business in the fourth quarter.
In order to further diversify its customer segments, the Group will continue to invest in the launch of new products and the opening of new branches during the fourth quarter. The Group will also continue to create new promotion programs, such as Winter Spending Rewards, in the fourth quarter to capture the improving consumer credit demand in a bid to increase its receivable balances.
In regard to the Mainland China business, the Group will focus on developing new products and services for its microfinance subsidiary in Shenzhen and transforming its structure so as to capture future business opportunities within the Greater Bay Area.
Mr. Tomoharu Fukayama, Managing Director of AEON Credit, said, “We are encouraged by the well-received promotion programs, which have allowed us to gain a better understanding of customer needs and behaviour. With clearer insight, a healthy credit portfolio and solid business plans, we are poised to seize the recovering consumer credit demand and deliver long-term value to our shareholders.”
About AEON Credit Service (Asia) Company Limited (HKEX: 00900)
AEON Credit Service (Asia) Company Limited, a subsidiary of AEON Financial Service Co., Ltd. (TSE: 8570) and a member of the AEON Group, was set up in 1987 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in 1995. The Group is principally engaged in the consumer finance business, which includes the issuance of credit cards and the provision of personal loan financing, card payment processing services, insurance agency and brokerage business in Hong Kong and microfinance business in Mainland China.
For more information, please visit the company’s website at www.aeon.com.hk.
Topic: Press release summary
Nov 10, 2021 | Business
AEON Credit Service (Asia) Company Limited (“AEON Credit Service” or the “Group”; stock code: 00900) has announced the launch of a series of AEON credit card offers aimed to extend the impact of the government consumption voucher, for greater enjoyment of the traditional consumption peak season between Christmas and Chinese New Year.
Always putting customers first, AEON Credit Service constantly provides customers with the most suitable offers so as to create the best experience for them. The recent well-received AEON x Ocean Park General Admission Promotion has allowed the Group to better understand customer needs and behaviour. In view of the positive consumer sentiment boosted by the Consumption Voucher Scheme in Hong Kong and the approaching traditional consumer spending peak season during Christmas and Chinese New Year, the Group has seized the strong momentum embarking on the following targeted credit card promotion offers to capture business opportunities:
1) Online Spending and Local Dining 10X Rewards Promotion
As demand for online shopping and catering services increases, AEON credit card hopes to stimulate greater related consumption. Customers can earn 10X points, equivalent to a 4% spending rebate, for credit card online shopping transactions and restaurant dining in Hong Kong on Fridays, Saturdays and Sundays during the period between 1 and 30 November 2021. Cardholders of AEON CARD JAL can enjoy HK$2=1 JAL Miles redemption through these two spending offers, and earn JAL Miles expressly in preparation for the opening of international travel in the future.
2) AEON Credit Card “Earn Multiple Rewards for More Spending Each Month”
As the peak shopping season from Christmas to Chinese New Year is just around the corner, AEON Credit Service is going to launch a special rebate. AEON customers can now get a cash rebate of up to HK$1,200 for spending with their AEON Credit Cards during the promotional period.
Spending Stage / Cumulative Monthly Spending / Cash Rebate
Stage 1: 15/11/2021 – 14/12/2021 / HK$5,000 or more / HK$150
Stage 2: 15/12/2021 – 14/1/2022 / HK$5,000 or more / HK$150
Stage 3: 15/1/2022 – 14/2/2022 / HK$5,000 or more / HK$150
Additional Rewards:
Customers who meet the above monthly spending requirements for the three consecutive stages and with accumulated spending of HK$45,000 are entitled to an extra HK$750 cash rebate.
Note: The above credit card offers are subject to relevant terms and conditions. For details, please visit the company website: www.aeon.com.hk
About AEON Credit Service (Asia) Company Limited (Stock Code: 00900)
AEON Credit Service (Asia) Company Limited, a subsidiary of AEON Financial Service Co., Ltd. (TSE: 8570) and a member of the AEON Group, was set up in 1987 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in 1995. The Group is principally engaged in the consumer finance business, which includes the issuance of credit cards and the provision of personal loan financing, card payment processing services, insurance agency and brokerage business in Hong Kong and microfinance business in Mainland China.
For more information, please visit the company’s website at www.aeon.com.hk.
Media Enquiries
Strategic Financial Relations Limited
Fanny YUEN / Brigid LEE
Tel: (852) 2864 4853 / 2114 4313
E-mail: sprg_acsa@sprg.com.hk
Topic: Press release summary
Apr 11, 2021 | Business
AEON Credit Service (Asia) Company Limited (“AEON Credit” or the “Group”; Stock Code: 00900) has announced today its annual results for the year ended 28 February 2021 (“FY2020”). During FY2020, the change of consumer behavior to online shopping and indoor activities has prompted the Group to accelerate its digital transformation through the continued upgrade of mobile applications and dedicating more resources to online merchant marketing promotions. The Group has also continued with the development of the new card and loan system to prepare for further technological upgrades in the payment industry. Sales in the fourth quarter started to pick up due to the launch of personalized marketing promotions.
Facing an exceptionally uncertain market environment during FY2020, the Group’s revenue was HK$1,089.9 million, with profit after tax amounting to HK$301.6 million. Earnings per share were 72.02 HK cents. The Group’s capital base remained strong with total equity up 3.3% to HK$3,422.0 million as at 28 February 2021.
In view of the sound fundamentals of the Group, the Board has recommended a final dividend of 18.0 HK cents per share, bringing the total dividend for the year to 40.0 HK cents per share, representing a dividend payout ratio of 55.5%, up from 49.8% last year despite adversity.
Go Digital and Seize New Demand during Post-pandemic Recovery
Looking ahead, changing consumer spending behaviors under the new normal as a result of the Pandemic are expected to remain. The Group will adjust its business model to adapt to this changing consumer behavior and ensure it is prepared to meet new customer needs.
If the Pandemic can be brought under control soon, economic activities in Hong Kong are expected to rebound in the second half of FY2021. To ensure the effectiveness of marketing channels and to stay competitive in the market, the Group will put more emphasis on using social media and mobile applications to promote its products and marketing programs. Moreover, with the development of acquiring business merchant network, more promotions will be lined up with online merchants to stimulate customer spending.
In addition, the Group will work closely with AEON Stores (Hong Kong) Co., Limited (“AEON Stores”; Stock Code: 00984) to maximize the card payments of customers inside AEON Stores. To cater for any possible adverse changes in the credit environment, the Group will enhance its credit policy for a better balance of customers’ financial needs and profitability.
In order to strengthen operational efficiency, the Group will continue to commit significant resources to complete the digital transformation and upgrade its ability to respond to changes in the market. The Group will introduce new product benefits and provide premium user experiences to its customers. Furthermore, the Group will enhance its data analysis methodologies to raise its marketing, credit assessment and credit management effectiveness.
A key element of the technology upgrade is the new card and loan system project. With the completion of the acquiring phase and the card authorization front-end replacement, the Group will start the issuing phase in the first quarter of FY2021, with the estimated project completion date to be in early 2023.
During the year under review, the Group has also completed several major projects, including enabling Faster Payment System (FPS) service for personal loan fund transfer, enhancing personal loan application through mobile application to support new version of Hong Kong identity cards, improving mobile application to support loan account overview, the implementation of additional network security enhancement, and work-from-home system functions.
Exploring Greater Bay Area’s Consumer Finance Market
Following the voluntary liquidation of two microfinance subsidiaries in the northern part of Mainland China, the Group will concentrate on consolidating its operations in the Guangdong-Hong Kong-Macau Greater Bay Area and strengthening the local management team. The microfinance subsidiary in Shenzhen achieved monthly break-even status in the year. The Group will put efforts to improve its operating performance and to seek new business opportunities.
Mr. Tomoharu Fukayama, Managing Director of AEON Credit said, “With the precautionary measures being taken and our strong business partner relationships, as well as our strong liquidity position and balance sheet, we are well prepared to face the challenges ahead and to move forward to capture new business opportunities that may arise as and when the market conditions return.”
About AEON Credit Service (Asia) Company Limited (Stock Code: 00900)
AEON Credit Service (Asia) Company Limited, a subsidiary of AEON Financial Service Co., Ltd. (TSE: 8570) and a member of the AEON Group, was set up in 1987 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in 1995. The Group is principally engaged in the consumer finance business, which includes the issuance of credit cards and the provision of personal loan financing, card payment processing services, insurance agency and brokerage business in Hong Kong and microfinance business in Mainland China.
For more information, please visit the company’s website at www.aeon.com.hk.
Topic: Press release summary
