NWDS Co-launches the WEPASS Card with Tenpay and Becomes the First Department Store Chain to Put the Technology in Use

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NWDS Co-launches the WEPASS Card with Tenpay and Becomes the First Department Store Chain to Put the Technology in Use

New World Department Store China Limited ("NWDS"; stock code: 825.HK), one of the largest owners and operators of department stores in the PRC, and Tenpay, Tencent's third-party payment solution, organized a joint press conference today to co-launch the NWDS WEPASS Card, a WeChat-based virtual prepaid card. It is also Tenpay's official launch of WEPASS and NWDS becomes the first department store chain to put the card into operational use.

NWDS WEPASS Card pioneers to integrate the three functions of membership card, bonus point earning card and prepaid card into one. The virtual card helps NWDS realizing an effective consolidation of information exchange, payment transfer and customer relationship management. At present, the card is operational at Hong Kong New World Department Store - Shanghai Pujian Branch Store and will be in use in other stores in Shanghai, Beijing and Wuhan stores subsequently.

Zheng Haojian, project leader of Tenpay said, "Being different from traditional prepaid card, NWDS WEPASS Card users can skip the hassles of filling forms and settling payment at stores in person, and be able to create account, top up and make payment through WeChat. By simply subscribing NWDS WEPASS Card WeChat account and following its activation instruction, the card can be obtained easily to enjoy all kinds of shopping privileges at NWDS."

Upon successful activation of the NWDS WEPASS Card, users can shop without a physical card, and be able to receive real-time promotion information and check account balance through WeChat anytime. Users can also top up their cards via WeChat Pay. Payment with WEPASS Card is convenient by simply scanning the QR code of NWDS WEPASS Card at the stores' POS.

 "Regardless of where you are, WeChat helps grab hold of the store's best deals and privileges in your palms, and make your shopping more targeted and smarter." Mr Chen, who experienced the trial in advance, added that the 3-in-1 card can ensure a real-time bonus point earning upon purchase, avoiding the occasion of missing bonus point earning opportunities when forgetting to bring the physical card along.

Pius Chan, Chief Operating Officer of NWDS said, "The introduction of WEPASS, a personalized prepaid card, with Tencent is one of the innovations in the industry and is another significant attempt of NWDS in a bid to enhance consumers' shopping experience. NWDS has always attached great importance to meet consumers' demand and enhance their experience. The WEPASS card brings us to go back to the fundamental of the business which is a seamless communication with our customers." He added, "Consumer experience is the one and only principle for any department store business. E-commerce is not the only but an essential means to help us achieve our goal. Despite the current environment, department store business still possesses its unique competitive edge. Our cooperation with Tenpay is built on the basis of a common goal and mutual understanding. Looking forward, leveraging internet company's intrinsic advantages over data and its development potential, we believe that NWDS WEPASS Card's contribution to the big data application will surface in the coming half to one year and further bridge the communication between NWDS and our consumers. The joint development between a traditional department store and an internet company can create win-win for both parties on the aspect of "enhancing consumers' satisfaction and experience." To demonstrate how much it values the partnership, Tenpay has signed a half-year exclusive agreement with NWDS and set up a dedicated team of 50 technicians to develop the product.