Hong Kong Startup Divit Launches Game-changing Payment Solution for Merchants and Consumers

Inaugural partnership with Cathay offers a simple, flexible and rewarding loyalty experience

• Unique & Disruptive — Hong Kong’s first payment platform that allows consumers to instantly earn miles with FPS payments is set to disrupt consumer behavior and erode the “stickiness” of traditional credit card loyalty programs
• Easy & Rewarding for Consumers — Smartly designed to meet increasing consumer demands for “instant experiences” with real-time miles rewards for FPS payments
• Profitable & Scalable for Merchants — Frees merchants from handling fees charged by credit card issuers and empowers retailers to instantly tap into a potential customer base of 12 million members

HONG KONG, 16 June 2022 — The Hong Kong-based fintech startup, Divit, is launching a pioneering real-time payment-linked loyalty and rewards platform that enables consumers to instantly earn and spend miles with any FPS payment. The game-changing development frees merchants from the cost of handling credit cards and empowers them to tap into millions of potential customers who are members of the world’s leading loyalty programmes.

In a major step towards achieving its goal of creating the world’s biggest loyalty community and turning “Divit Miles” into a commonly used currency, Divit has announced its inaugural partnership with premium travel lifestyle brand, Cathay. Consumers will be given instant, two-way, 1 for 1 convertibility between Asia Miles and Divit Miles. Divit’s merchants will enjoy immediate and low-cost access to over 12-million potential new customers with whom they can transact directly. In the post pandemic era, Divit can help merchants unlock a wealth of business opportunities, particularly in the e-commerce sector.

“These days consumers want instant rewards, real-time experiences and tailored engagements with brands when they shop. Divit is dedicated to transforming the marketplace by giving consumers and merchants a fast, secure, and rewarding win-win alternative. With Divit, consumers can immediately earn and spend air miles on almost anything they purchase anywhere via FPS, while merchants can reach millions of consumers without the time, effort, or expense of building their own rewards platform,” said David Yu, Co-founder of Divit.

Simple, flexible and rewarding — mileage points are just a few clicks away

Officially launched today, Divit was founded by a trio of Hong Kong FSI industry veterans with the goal of creating the city’s first payment platform that allows consumers to earn and spend miles instantly with FPS payments. Its unique FPS-based approach offers customers two different payment options to earn and spend Divit Miles with ease:

1. FPS by Divit: Fast and secure FPS payment with instant miles rewards
2. FPS by Divit Pay Later: Pay for purchases with three interest-free monthly FPS payments

Divit’s seamless rewards journey fits the lifestyle of today’s consumers, addressing their growing appetite for “instant” experiences. Instead of waiting for monthly bank statements to “realize” their rewards, consumers can now earn miles almost instantaneously whenever they pay for anything via FPS. In addition to providing a simple and real-time experience, the new platform also offers unprecedented flexibility. It enables consumers to use the Divit Miles they earn much like a currency to shop, or even choose to make a charitable donation.

“We are always looking for ways to make both earning and spending miles simpler. By partnering with Divit, which has established a merchant network where customers can seamlessly earn and burn with their loyalty points within Divit’s ecosystem, our members will have more ways to earn and redeem with their miles, providing more ways for us to engage with our members.,” said Paul Smitton, Cathay Director Customer Lifestyle.

“Plug-and-play” solution for merchants to save costs and capture opportunities

The launch is perfectly timed. With consumer behavior undergoing a digital transformation driven by the pandemic, e-commerce is now dominating the retail market. Real-time payments have also become the mainstream in Hong Kong, with the value of FPS transactions reaching HK$576 billion in Q4 2021, tripling that of credit card transactions.

As a genuinely “plug-and-play” solution, Divit empowers merchants to capture new opportunities easily and cost efficiently, simply by registering and adding it to their payment options at checkout. In addition to achieving savings of up to 3% on credit card handling fees, merchants can also incentivize consumers to make purchases with Divit by providing them with the opportunity to instantly earn and spend miles. This opens up a wealth of opportunities among members of the world’s leading customer relationship programs like Cathay, and many more.

Streamlining the rewards process encourages consumers to choose FPS as their preferred way of payment, which in turn improves cashflow for merchants. This game-changing solution is a perfect fit for small to medium-sized businesses, making it possible for them to easily tap into the fast-growing e-commerce market. The unparalleled flexibility allows them to create and customize their own rewards scheme on the Divit merchant platform with just a few clicks.

“We believe that everyone deserves to be rewarded. Divit is committed to supporting consumers, merchants and our loyalty partners to go further, by making payments simple, flexible and rewarding,” Julian Anderson, Co-founder of Divit added.

Divit will initially be available in Hong Kong, with plans to expand into other markets, such as Australia, by the end of 2022. Looking forward, Divit is already exploring new ways to turn spending into attractive, easy-to-use rewards. That includes partnering with more airline loyalty programs to build a global community of consumers and merchants that uses Divit Miles as a common currency. The latest merchant to join Divit’s global loyalty community is the low-cost carrier and wholly owned subsidiary of the Cathay Pacific Group, HK Express. Customers enjoying new HK Express destinations can pay for their holidays in a series of three interest-free monthly payments using FPS by Divit Pay Later.

For more information about Divit and to join this global community, please visit www.divit.com.hk