Manila, 26 August 2003 - Visa
Asia Pacific and the Philippines Department of Tourism (DOT)
announced today their strategic partnership to promote tourism
through the country's retail sector. The DOT, thru its marketing
arm the Philippine Convention and Visitors Corporation (PCVC),
is organizing the WOW Philippines Shopping Fiesta 2003 for which
Visa has been appointed the Preferred Card and Sponsor. The promotion
will run from 1 October to 31 December 2003. Over the next few
weeks, Visa is investing over Php15 Million in the nationwide
Visa WOW Philippines Shopping Fiesta Promotion.
All it takes for Visa cardholders
to win exciting prizes during the shopping fiesta, is a minimum
purchase of Php500 made anywhere in the Philippines on their
Visa Credit or Visa Electron cards, in a single receipt. A draw
will be held at the end of the promotion, where cardholders stand
to win the grand prize of a car, one of five Php50,000 in shopping
credit, an all-inclusive 6D/5N Holiday Vacation Tour Package
for Two and ten (10) jewelry sets worth Php 20,000 each.
Visa cardholders will also enjoy
exclusive privileges at the Shopping Fiesta in Makati in October.
In addition, cardholders who spend a minimum of Php500 on their
Visa card at the Shopping Fiesta in Makati as well as the Sports
Tourism and Travel Show at Intramuros Manila in November stand
to win instant prizes including ice cream and car decals. As
a bonus, Visa cardholders spotted with the decals on their cars
will receive Php1000.
Anton Romulo, Visa's Country
Manager for Philippines said, "Given the combined strengths
of the DOT and Visa in this initiative, we expect to see excellent
response in terms of boosting spend in the country. As the Preferred
Card of the WOW Philippines Shopping Fiesta's, we are delighted
to play a pivotal role in the promotion to ensure that shopping
in this country will not only be an enjoyable but a rewarding
experience as well. Over the years, Visa has been instrumental
in making shopping convenient, simple and secure for Philippine
nationals and visitors alike, whether by Visa credit card or
by the debit card, Visa Electron."
"With the many benefits
and privileges to be extended to our cardholders through our
network of 45 thousand merchant outlets in the country, we will
be strengthening recognition of Visa as an "everyday card",
to be used in place of cash, whenever and wherever payment must
be made," he added.
Cynthia Carrion, Travel Trade
Deputy Executive Director and Sports Tourism Director from the
Philippines Convention and Visitors Corporation said, "Philippines
has a strong reputation for being a country of vibrant color
in its vast natural resources, excellent beach resorts and beautiful
people. What has less prominence in the minds of visitors is
the variety and value for money which they get from shopping
here. Our partnership with Visa will certainly draw their attention
to what our retail industry has to offer, and shoppers will be
rewarded for it. By tying up with the number one payment brand
in the country and in Asia Pacific, the DOT will be able to reach
Visa's massive card base in the region. In Southeast Asia alone,
Visa has over 37 million cardholders. This partnership is indeed
very exciting news for us and we look forward to working even
more closely with Visa."
Other elite national shopping
events for which Visa Asia Pacific is the official card and sponsor
are the Great Singapore Sale and Amazing Thailand Grand Sales.
Visa International
Visa is the world's leading payment brand generating more than
US$2.5 trillion in annual card sales volume. Visa has unsurpassed
acceptance in more than 150 countries. The Visa organization
plays a pivotal role in developing innovative payment products
and technologies to benefit its 21,000 member financial institutions
and their cardholders. Visa is a leader in Internet based payments
and is pioneering the creation of u-commerce, or universal commerce,
the ability to conduct commerce anywhere, anytime and any way.
For more information, visit www.corporate.visa.com.
Visa Asia Pacific
In Asia Pacific, Visa has a greater market share than all other
payment card brands combined with 59 percent of all card purchases
at the point of sale being made using Visa cards. There are currently
192 million Visa-branded cards in the region. During the twelve
months ended 31 March 2003, US$430 billion was spent at point
of sale or withdrawn from ATMs in Asia Pacific using Visa cards,
an increase of 22 percent over the previous year. Visa Asia Pacific's
Internet address is www.visa-asia.com.