The Hindu Business Line : Aviation, telecom cos keen on Future Card’s loyalty offerings

“We are in discussions with Kingfisher and a couple of budget airlines for the Future Card. In fact, there are airlines already in this segment but at the same time are open to expanding their existing loyalty programmes.”

Purvita Chatterjee

Mumbai, March 17

Kishore Biyani-led Future Group’s new credit card offering loyalty points — Future Card — is expected to include service-oriented companies from the telecom and aviation industries.

Entities which are currently not part of the Future Group are already in talks with the retailer to use its platform to increase consumption of their services.

Mr Venkatesh Srinivasan, COO, Future Capital Holdings, told Business Line, “There are a bunch of telecom and airline companies which are looking at a platform and would like to expand the consumption basket of their consumers.” Airlines such as Kingfisher and Deccan, which already have their respective loyalty programmes, have evinced interest in being part of the Future Card.

Adds Mr Srinivasan, “We are in discussions with Kingfisher and a couple of budget airlines for the Future Card. In fact, there are airlines already in this segment but at the same time are open to expanding their existing loyalty programmes.” Even telecom service providers, who already have discount schemes as part of their packages, are looking at tapping into the resources provided by the Future Card due to its wide consumer base. “The Future Group has a presence in 50 locations, which is expected to go up to 100. There would be even regional telecom players whom we could include in the Future Card, ” claims Mr Srinivasan.

Besides, travel is going to be a focus area for the Future Group, having forged alliances with travel agencies such as Cleartrip.com and Travel House. In fact, with Future Capital having picked up a stake in Centrum Capital, there is a possibility of getting into forex-related services for which it might rope in Cleartrip.com as well. “The forex business is going to be an extension of our existing financial services and travel is going to become a focus area for us,” says Mr Srinivasan. Besides, the Mumbai-based travel agency, Travel House, is already a member company of the Future Card and is giving discounts for its packages as part of the loyalty programmes.

Meanwhile, the 1 million ICICI Big Bazaar Credit Card-holders would be transferred to the new Future Card, which would cover the 32 Future Group companies ranging from Pantaloon Retail to its several joint ventures such as Lee Cooper and Etam. While the new Future Card would continue to be empowered by ICICI Bank, companies outside the Future group would continue to be added to it, offering loyalty points for members. With free gifts assured on the Future Card, the Future Group expects its membership to touch 3-4 million in the near future.

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