krip Seeks to Redefine Spending by Uncovering Hidden Credit Card Deals

krip Seeks to Redefine Spending by Uncovering Hidden Credit Card Deals

by May 29, 2023

Amidst the vibrant energy of Hong Kong, a world of incredible opportunities awaits savvy consumers eager to make their money go the distance. 

Yet, hidden within the city’s bustling streets lies a treasure trove of untapped potential: a vast array of credit card deals just waiting to be discovered.

A lack of awareness means customers often miss lucrative discounts, cashback, and exclusive privileges.

Addressing this issue, krip, a Hong Kong-based fintech company, is reshaping the credit card deals and offers landscape by providing a personalized, comprehensive, and centralized platform.

This platform connects consumers with a wide range of credit card deals, empowering them to make informed and savvy decisions.

By bringing together a vast spectrum of deals in one accessible place, it changes how consumers discover and capitalize on these offers.

The journey behind krip

The concept behind krip was born out of a realization that even the most credit-savvy individuals were not fully leveraging the potential of their credit cards

As a self-proclaimed credit card enthusiast, David Wang, founder of krip, experienced firsthand the frustration of discovering great deals after the fact or missing out on enticing offers due to a lack of awareness. 

This personal journey led to the inception of krip—a platform that seeks to empower consumers and provide them with the tools they need to unlock the full potential of their credit cards.

Unleashing the hidden potential

krip tackles the issue of unknown credit card deals by consolidating over 6,000 deals from various credit card issuers and networks into a single database. This centralized approach ensures that consumers have access to a comprehensive and constantly updated collection of deal information.

By providing this access, krip empowers consumers to tap into the hidden potential of their credit cards and make the most of the available offers. In Hong Kong, most consumers are unaware of more than 95 percent of the credit card deals they could benefit from.


krip Founder, David Wang

David highlighted the significance of optimizing deal access, stating, “Through our studies, we discovered that enhancing the efficiency of accessing deals could result in more than US$ 7.4 billion (HK$58.68 billion) in additional annual spending. This improvement not only benefits consumers but also strengthens the overall ecosystem.”

Enabling smarter spending decisions

krip utilizes cutting-edge technology and information transparency to enable consumers to make smarter spending decisions. 

The platform offers two distribution channels: a direct B2C channel through a web and mobile app and integration with other retail applications via an API (Application Programming Interface). 

These channels ensure that consumers can easily access all available deals, regardless of their preferred shopping platforms. 

krip centralizes the deals and provides personalization, helping consumers understand the deals specific to their credit cards and avoiding the need to dig through terms and conditions. 

This comprehensive access to information empowers consumers to make informed choices, ultimately leading to smarter spending decisions.

Maximizing deal exposure and customer engagement

krips’s unique API allows financial institutions, businesses, and merchants to maximize deal exposure and customer engagement. By integrating krips’s API, retail platforms can provide users with a wide range of deals, enhancing their value proposition and driving customer loyalty.

Financial institutions can benefit from gaining insights into the market landscape, allowing them to optimize their deal offerings. 

“Our platform’s API is designed to provide real-time updates on deals and ensures consistency in the format of deal information, making it seamless for businesses to integrate these deals into their platforms,” said David 

For merchants, integrating with krips’s API offers a great opportunity to reach a wider audience and increase their sales volume. By showcasing their deals on krips’s platform, merchants gain visibility among millions of potential customers with credit cards issued by partner banks.

This exposure not only drives customer engagement but also helps to establish brand presence and drive business growth.

krip API’s key features and benefits

krip’s API stands out for its unique features and numerous benefits. Firstly, the single integration feature allows businesses and financial institutions to access the entire deals database with just one integration, saving them time and effort compared to multiple integrations with different providers.

“This eliminates the need for multiple integrations with different providers,” explained David.

Secondly, the deals database is regularly updated, ensuring users can access real-time updates on various deals. New deals are added every month, keeping the platform fresh and exciting.

Thirdly, krip standardizes the format of the deals, making it easier for users to navigate and compare offers. This consistency enhances the overall user experience and eliminates any discrepancies in promotional materials.

With built-in filtering capabilities, the API allows for easy customization based on categories, location, and deal types, providing a personalized and streamlined user experience, ” he added.

Adding to its appeal, krip’s API offers personalized mapping of deals to specific credit cards, ensuring that users only see the deals that apply to their cards. This customized approach enhances user engagement and satisfaction by delivering relevant offers tailored to individual needs.

“Our focus is on the long-term value of credit card deals and addressing consumers’ pain points,” emphasized David.

While comparison sites primarily concentrate on the acquisition, krip aims to enhance the lifetime value of credit cards through its comprehensive platform.

With a monetization model based on API subscriptions and data analytics, the platform offers a scalable business model that can be easily expanded to new markets.

krip’s partnership with livi bank

krips’s collaboration with livi bank is said to be able to change how consumers discover real-time merchant offers. As a virtual bank, livi bank offers two cards and diverse deals and content. However, traditional banking applications are not the preferred choice for consumers when making retail decisions.

“Understanding this user behavior, our platform seamlessly integrates with livi bank’s systems, enabling a convenient and personalized approach to engage the bank’s cardholders at the moment of purchase.”

Leveraging krips’s API and comprehensive deals database, bank customers can effortlessly access and explore relevant deals across Hong Kong’s digital ecosystem.

This partnership creates a seamless flow of information, empowering livi bank’s customers to conveniently discover and take advantage of real-time merchant offers. 

“krips’s platform is a one-stop lifestyle destination, effortlessly connecting users with deals that match their preferences and needs,” said David.

The collaboration benefits the bank’s customers and provides valuable market insights to the bank. By utilizing krips’s API, livi gains a deeper understanding of the competitive landscape and market trends, enabling them to optimize its deals and offerings. 

This market intelligence empowers the bank to strategically position itself and effectively target customers, enhancing customer engagement and satisfaction.

Moreover, the partnership with livi bank allows krip to expand its presence and influence within the fintech ecosystem.

Facilitating the creation and integration of card deals

krip’s platform is crucial in facilitating the creation and integration of card deals, especially for virtual banks like livi bank. 

krip helps virtual banks identify their unique strengths and target specific niches in the competitive credit card market by providing a comprehensive database of deals and insights into the market landscape. 

“Understanding the preferences and behavior of cardholders allows virtual banks to tailor their deal offerings and engage customers more effectively,” said David.

This personalized approach to deals creates a long-term relationship with customers, driving customer loyalty and cross-selling opportunities. By leveraging krip’s platform, virtual banks can optimize their deals strategy and enhance customer engagement.

Recognition, growth, and plans

krip’s participation in various programs, such as the Cyberport incubation programme, has significantly impacted its growth and success. 

These programmes have provided valuable support, allowing krip to refine its business model and establish partnerships in the fintech ecosystem. 

The platform’s recognition as a semifinalist and finalist in startup competitions, including Jumpstarter and the Hong Kong FinTech Week Startup Pitching Competition, has further enhanced its visibility and brand-building efforts. 

At the beginning of this year, krip welcomed Benjamin Quinlan as the company’s chairman. Benjamin previously served as the chairman of the FinTech Association of Hong Kong (FTAHK) and currently chairs the Innovation & Technology Committee at AustCham Hong Kong.

“Benjamin’s appointment as chairman further solidifies krip’s position and momentum in the market,” said David.

In addition to the positive progress, krip achieved another significant milestone by being selected as one of the ten startups for the Accenture’s FinTech Innovation Lab‘s Asia Pacific cohorts in 2023.

Looking ahead, krip has ambitious expansion plans. While strengthening its presence in Hong Kong and maximizing value for its banking partners, krip aims to expand its operations into Southeast Asia and China. 

These expansion plans will enable krip to bring its platform to a broader audience, facilitating cross-border engagement and providing customers with enhanced experiences beyond Hong Kong’s borders. 

By constantly evolving and responding to market demands, krip is poised to transform the credit card deals landscape in the region.