SINGAPORE: Physical CapitaVouchers will no longer be accepted as a mode of payment at retailers across participating properties from Jul 1.
CapitaLand announced in a press release on Thursday (Apr 27) that the physical shopping vouchers will be fully replaced by its existing digital programme, eCapitaVoucher.
Consumers holding on to the physical shopping vouchers are advised to use them by Jun 30.
Those unable to use the vouchers by that date can convert them to STAR$ at an equivalent value, from May 2 to Sept 30, CapitaLand said.
STAR$ can be used to exchange for eCapitaVouchers, merchant deals or carpark redemption vouchers on the CapitaStar app.
Consumers can convert their physical CapitaVouchers to STAR$ at customer service counters at 11 CapitaLand shopping malls, including Bugis Junction, ION Orchard and Raffles City.
They will need to bring along their valid physical CapitaVouchers.
They must also hold a CapitaStar membership account, and install the CapitaStar app on their mobile devices.
The CapitaStar lifestyle rewards programme has over 1.4 million members in Singapore.
All STAR$ issued from the conversion exercise will have a fixed expiry date of Jun 30, 2024.
“MOST WIDELY ACCEPTED” VOUCHER
Mr Reuben Yong, CapitaLand Investment’s head of digital platforms, retail and workspace (Singapore and Malaysia), attributed the digital transition to the growing popularity of eCapitaVouchers among both both consumers and retailers since its 2019 launch.
“In 2022, sales of eCapitaVoucher grew by 29 per cent year-on-year, and more than S$280 million of tenant sales were attributed to the usage of eCapitaVoucher as a payment mode,” he said.
By going fully digital, CapitaLand will also be able to improve its CapitaStar app to provide “value-adding services for consumers and retailers alike”.
“We will continue to innovate and reinforce eCapitaVoucher’s popularity as Singapore’s most widely accepted digital shopping voucher,” Mr Yong said.
eCapitaVouchers are currently accepted at over 3,200 stores across 28 participating properties. Since Apr 10, the programme has been expanded to include Paragon, Clementi Mall, Rail Mall and Seletar Mall.