DCS Card Centre Raises $223 Million Through Expanded Asset-Backed Note Issuance

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DCS Card Centre Pte Ltd (DCS) is excited to announce a significant development with the additional issuance and upsizing of SGD 300 million ($223.2 million) asset-backed notes. These notes are meticulously securitized by credit card receivables originating from DCS, reflecting the company’s commitment to driving innovation and fostering growth in Singapore’s payment solutions and consumer credit market.

This financial facility not only reinforces DCS’s commitment to pioneering advancements in the payment landscape but also positions the company strategically for sustained growth.

DCS has consistently demonstrated its prowess in the regional securitization market, leveraging a robust asset portfolio performance, rigorous risk management protocols, and unwavering regulatory governance. The successful execution of this transaction is made possible with the support of DBS and seasoned investors, including First Plus Asset Management Pte Ltd (First Plus), a prominent Singapore-based multi-asset investment manager specializing in APAC structured credit and equities.

Eileen Liu, Managing Director for Finance at DCS, emphasized the significance of this latest round of notes issuance, stating, “With our latest round of notes issuance, DCS cements its role as an industry leader in shaping the future of payment strategy through our innovative solutions. Our commitment to investors remains unparalleled, and we are excited to continue building strong trusting relationships with a diverse range of financiers.”

Jennifer Siu, Head of Private and Structured Credit at First Plus, expressed delight in supporting DCS’s mission to reshape the region’s payment landscape. Siu highlighted the ongoing opportunities in the consumer market, particularly with the growing middle class in the ASEAN region. First Plus, with its robust regional presence, is dedicated to identifying investment opportunities that provide risk-justified value propositions to investors.

Noteworthy is DCS’s recent rebranding from Diners Club Singapore to DCS Card Centre. This strategic move has paved the way for the introduction of new products and services designed to cater to a broader customer base and align with evolving consumer preferences. Embracing a digital-first approach across core activities, DCS has expanded its credit card issuance to include not just Diners Club International but also Mastercard, UnionPay, and soon, Visa.

One standout initiative is the launch of DCS Tokens, marking DCS as the first financial institution in Singapore to introduce a payment token bridging the gap between Web2 and Web3 payment ecosystems. This revolutionary offering is accessible to users of digital assets, merchants, and corporates.

The substantial investment and ongoing initiatives underscore DCS’s commitment to driving fintech advancements in payment solutions. The company’s innovation-centric approach, coupled with a dedication to staying at the forefront of industry developments, positions DCS as a trailblazer, poised to lead the next revolution in payments.