True to its name by the swank New York City borough, the new Stan Chart Manhattan card targets the ambitious, upwardly mobile customer. After foraying into the Far Eastern markets of Hong Kong and Singapore, the lifestyle credit card is now eyeing at the hip and happening Indian consumer. Visa is partnering the venture with the banking major.
Manhattan is attempting to break the barriers of ‘one size fits all’ logic by providing customers the choice of deciding their own lifestyle experiences and own pricing. The card provides choice of lifestyle experiences from travel and adventure to wining and dining, health, fitness and entertainment. Manhattan provides customised pricing with interest rates varying from as low as 1.99 % per month to 2.49% per month, depending on the spending and payment patterns. The card provides a choice of communication in an unbank, uncard manner internet, SMS or phone, where you talk to a human being (and, no machines or IVR) through the national toll free number.
Mike DeNoma, Group Executive Director, stated, “We have seen Manhattan cut through the clutter in more mature card markets such as Hong Kong and Singapore. The success of Manhattan is based on the premise that ‘one size does not fit all’. India remains a key growth market for our group, and I am delighted to introduce it here today. I am confident that Manhattan will empower the burgeoning aspirational young urban Indian like never before, as it has successfully done in our other core markets.”
Says Vishu Ramachandran, Regional Head, Consumer Banking, Standard Chartered Bank, “India’s young and urban customers have evolved today, and are looking to make choices that suit their lifestyle. With Manhattan, we are empowering the customer to decide what he wants. We believe Manhattan will set lifestyle benchmarks and will soon be a way of life as customers demand more flexibility, customisation and a need to be heard.”
The launch began with a ‘whose line is it anyway’ session, featuring Cyrus Broacha, Raageshwari, Jaaved Jaaferi, and Joy Fernandez – who reflected the spontaneity and vibrancy of Manhattan, in an impromptu session. From an unconventional seating arrangement on a 55-foot stage to an exclusive preview of the advertising campaign – the launch event was the celebration of a different kind.
Santanu Mukherjee, Country Manager – South Asia, Visa International, stated, “The payment card industry has indeed matured in India. A true reflection of this change is the innovative products being developed to suit the lifestyle needs of customers. Manhattan provides a high level of customisation seen for the first time in India. The card takes the industry to the next level, by bringing together two key aspects of product development – innovation and empowerment of the cardholder. Visa is extremely excited to partner in this unique initiative.”
Manhattan experiences will be delivered through various events and activities classified into four experience zones. The customer can choose his experience zone, and he would be invited to exciting events scheduled through the year.