Invest round-up: Global loyalty platform and eye-care plan

Corporate employees covered by the AXA Smart Vision plan within their employee benefits policy will receive savings on prescription glasses or contact lenses, as well as a fully covered comprehensive eye examination from Optical 88.
Corporate employees covered by the AXA Smart Vision plan within their employee benefits policy will receive savings on prescription glasses or contact lenses, as well as a fully covered comprehensive eye examination from Optical 88. PHOTO: ST FILE

UTU consolidates rewards points from credit and debit cards; save money with AXA Smart Vision

UTU REWARDS PLATFORM

BY THE SCOTTS GROUP UTU (pronounced You-Too) is a loyalty platform that consolidates rewards points earned from using multiple credit and debit cards that you have registered through your smartphone.

The points can be racked up at home or while you are travelling overseas.

UTU was founded by The Scotts Group, a Singapore investment company, and Korvac Holdings, which provides cashless payment services.

Start by downloading the free mobile application on your Apple or Android device. You can register up to five credit or debit cards on the app, and earn rewards points when you use them to shop.

The points can then be converted and spent at participating redemption outlets. Users can also give points as gifts, and select to receive promotions and earn extra points through merchant engagement.

Consumers on the move can thus receive offers from merchants in the country they are currently travelling in and earn points by shopping there.

The platform also features a merchant portal that lets brands set up their own promotions, optimise campaigns and track how they are appealing to users.

The app aims to do away with the need for users to carry physical cards or monitor their points and merchant offers through separate portals. UTU streamlines the experience.

"With UTU, we're bringing it all together in the retail, travel and rewards space at home and away, online and in-store," said Scotts Group chief Asad Jumabhoy.

UTU will be available in Thailand from tomorrow with 10,000 merchants - including Zara, Starbucks and Boots - and 300,000 waiting in the wings. Then, there will be a quick roll-out in a handful of Asian countries, including Singapore, in the coming months.

NTUC Link, a social enterprise managing the Plus! consumer loyalty rewards programme, said it will work with UTU to expand its network beyond Singapore.

The points a customer earns while travelling can be converted into LinkPoints to offset purchases at local Plus! Partners, or redeemed for rewards on plus.com.sg when the customer returns home.

Those interested can visit www.utu.global and sign up to receive an invitation when UTU is available in Singapore.

AXA SMART VISION BY VSP

BY AXA SINGAPORE This eye-care plan stems from the partnership between insurers AXA Singapore and VSP Vision Care.

VSP provides insurance to more than 80 million members and has a worldwide network of 37,000 providers, including eye doctors.

AXA Smart Vision by VSP is available through AXA's distribution network. Currently, the plan is offered to firms for their employees, but offers to individuals could be developed in the future, said AXA.

Corporate employees covered by the plan within their employee benefits policy will receive savings on prescription glasses or contact lenses, as well as a fully covered comprehensive eye examination from VSP's network partner, Optical 88.

Corporate enrolment for AXA Smart Vision is flexible and can be funded either by the employer or by the employee as a voluntary benefit.

AXA noted that optometrists are often able to detect early chronic health conditions, occasionally before symptoms are apparent.

According to a study, an eye exam is often the first to detect signs of chronic conditions - for instance, high cholesterol in 62 per cent of cases, hypertension in 39 per cent and diabetes in 34 per cent.

A version of this article appeared in the print edition of The Sunday Times on November 13, 2016, with the headline 'Invest round-up: Global loyalty platform and eye-care plan'. Print Edition | Subscribe