HSBC India has unveiled HSBC Privé - its first premium credit card designed with privileges exclusively curated for its private banking clients. The Global Private Banking business in India serves high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) who are professionals, entrepreneurs and their families with investable assets of more than USD $2 million.
The launch in India is part of a global programme to offer elevated travel, exclusive access and exceptional lifestyle experiences to its clients. Debuted in Hong Kong, besides India, the invitation-only card will also be launched in more markets globally.
Launched in collaboration with Mastercard, HSBC Privé's privileges are specially curated for its UHNWI and HNWI clients, who are entrepreneurial, international and keen to expand their networks to discover new opportunities globally.
Commenting on the launch, Sandeep Batra, Head, Wealth and Personal Banking, HSBC India, said, "For our Global Private Banking clients who lead dynamic lives with a spirit of ambition and entrepreneurship, we offer a distinctive wealth management approach and our clients choose us not only because of our deep understanding of their needs, but also our capabilities to provide them with bespoke services beyond private banking. We are excited to welcome our clients to HSBC Prive and the unparalleled experiences and opportunities that it has to offer in line with their aspirations and lifestyle needs."
Rich Indian entrepreneurs are spending their wealth on luxury residences, goods and experiences as they remain optimistic about their business prospects in the home market and believe their personal wealth will grow1.
Credit card spending by the UHNWI and HNWI segment, represented by World and World Elite Mastercard cardholders in India, increased by 87% year on year in 2023. Particularly, overseas spending on experiences and travel categories grew by 69% and 56%, respectively, over the same period, indicating these to be categories of strong, growing interest among HNWI and UHNWI cardholders2.
Gautam Aggarwal, Division President, South Asia at Mastercard, said, "Mastercard is a leader in delivering unmatched value proposition across consumer segments globally. India today is among the fastest-growing countries in terms of the number of ultra-high-net-worth individuals. At the cusp of such a tectonic shift in the economic composition of the country, this association will enable Mastercard and HSBC to elevate extraordinary experiences for the latter's Global Private Banking clients. Integrating personalised services and priceless propositions with security that inspires confidence, HSBC Privé will set a new benchmark in the UHNWI and HNWI segment."
Recognising these spending trends, HSBC Privé is built upon deep client insights to cater to the needs of UHNWI and HNWI clients. Dedicated Contact Center agents are available to assist HSBC Privé cardholders to explore a suite of prestigious benefits3 uniquely curated for them, including:
Elevated travel - A companion first or business class airline ticket with leading airlines, access to premium airport lounges worldwide, travel Insurance, VISA at your doorstep and zero forex mark-up on all international spends.
Exclusive access - Worldwide access to bespoke private clubs, members-only lounges and workspaces at more than 150 locations across Asia, Australia, Europe and the United States, access to Michelin Star restaurants, access to bespoke experiences such as travel to Antarctic by Private Jet, get complimentary golf access in Asia Pacific, offers on wellness program and sessions with celebrity trainers.
Exceptional lifestyle - Premium hospitality groups benefits, accelerated upgrade to highest tier, exclusive shopping privileges and more. |
