LKP Introduces Value Points Through ‘Dollar & Sense’ Card

LKP Forex launched the dollars and sense rewards programme and the first membership card was presented to industrialist and liquor baron, Dr Vijay Mallya by Parag Mehta, executive director, LKP Forex. “It is befitting that Dr Vijay Mallya, chairman, UB Group is the first recipient of the dollars and sense card as his entire group personnel procure foreign exchange for their overseas travel from LKP Forex,” said Mehta.

With the launch of dollars and sense, LKP Forex has scored another ‘first’. The reward programme enables members to earn value points for the purchase of foreign exchange, pre-paid international calling cards and overseas medical insurance, which are all products marketed by LKP Forex. These value points can be accumulated and redeemed for an exciting choice of rewards ranging from hotel stays and packages to fine dining at leading restaurants, electronic products, cameras and department store gift vouchers.

A strategic alliance with Citibank enables members to acquire the Citibank Diners Club International Card at preferential rates and transfer dollars and sense value points to their Diners Club rewards account, thereby enhancing their point earning and giving them access to an additional range of reward options.

The first and instant bonus for qualifying members is a ‘dining club card’ (worth Rs 2500) - free and without debiting their value points. With the card, members can avail of discounts and privileges at over 500 hotels, restaurants and pubs, at 22 cities in India, six in the Gulf, plus some shopping centres in the Gulf.

The programme also offers a new area of benefit to frequent travellers. Accustomed to rewards/benefits against air travel, car hire, hotel stays and credit card purchases, the international traveller will, for the first time be rewarded for purchase of foreign exchange, which can earn substantial points and rewards. In fact, a traveller availing his full quota of exchange on an overseas trip can earn higher points from one single transaction, than a whole year of normal spends on a credit card.

Depending on exchange purchased, programme members will earn one value point per US$. All foreign exchange transactions, including remittances, earn value points. The pre-paid calling card can earn 100 to 800 value points and earnings on overseas insurance are related to premium value. There are also other exciting bonus point opportunities.

Says Mehta, “With dollars and sense, we have moved up the value chain to offer significant value to our loyal and frequent customers. We want to strengthen our position as a market leader, by knowing and understanding our customers better. We hope to develop our product to meet their expectation, and lock-in-their loyalty in the years to come.”