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SCMP Reporter

PARK'N SHOP has dismissed claims that moves to replace its store card with a Visa credit card could heighten the chance of unauthorised use.

  The supermarket chain claims it has designed safeguards to protect against the enhanced credit facilities being abused when supplementary cards are used by domestic helpers and family members.

   Earlier this month, Park'N Shop issued new Visa cards to existing cardholders.

   The cards are issued by ComPass, a joint venture between Hutchison Whampoa, which owns the Park'N Shop chain, and the Overseas Trust Bank.

  A spokeswoman for Hutchison Whampoa said: 'We made an offer to all Park'N Shop cardholders to convert to the ComPass Card. The plan is to have all existing cards replaced.'   Current Park'N Shop cards will remain valid until further notice.

  'We will extend the old card until we are comfortable that all holders have received notification,' said the spokeswoman.

   She said that the credit limit on the ComPass cards had been automatically set at HK$30,000.

  This credit limit can be increased or reduced by calling the customer services hotline on 2575 6873.

  About 80 per cent of card-holders had used their new ComPass Visa cards by the end of December, said the spokeswoman.

  Details of how to activate the cards could not be given for security reason and Park'N Shop would not release the total number of card-holders.

  According to the spokeswoman, the card can be used in other stores and there are plans to introduce a bonus scheme.

  She added: 'One of the reasons why we want to convert is that our customer base has grown substantially but Park'N Shop is not a credit card issuer'.

  In order to keep up with advances in technology needed to manage the card, the supermarket chain decided to use the services of an experienced and specialist card provider. But to ease the worries of those who would rather not give a fully fledged credit card to domestic helpers or even family members, supplementary cards can be issued without the Visa-card function.

  There is also a new option, available only to existing cardholders, for the main card not to have Visa capabili-ties.

   This option can be taken up by notifying the customer services hotline.

  The non-Visa ComPass cards still provide credit facilities, but they can only be used in Park'N Shop and other Hutchison stores such as Watsons or Fortress. Whether or not the card has a Visa function, one ComPass dollar will be awarded for every $100 spent in Park'N Shop or with other outlets in the group such as Hutchison Telecommunications.

  If the card has a full Visa function and is used in other shops, one ComPass dollar will be awarded for every $200 spent.

  Since the new cards are smart cards, ComPass dollars are stored on a chip in the card.

  ComPass dollars can be used as cash in Park'N Shop and the amount of ComPass dollars will show up when the card is used at the checkout.

   The annual fees for both the main and the supplementary ComPass cards, normally $480 for main cards and $240 for supplementary cards, are waived for the first three years.

  Interest is charged at the normal credit card monthly rate of two per cent on purchases, giving an equivalent annual rate of around 27 per cent per year. The interest-free period is 30 days.

  Application forms for new cards are available from Hutchison outlets or by calling the customer services hotline. The minimum salary requirement is $60,000 per year and the credit limit is four times the monthly salary for new cards.

  Wellcome also offers a store card free of charge which can be used in Mannings and Olivers. The minimum income requirement is $100,000 per year.

  The Wellcome card is a charge card, however, and balances must be settled every month.



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