Just another marketing gimmick? YOLO (short for “You Only Live Once”) is the name of UOB’s latest credit card offering for a segment of the population it sees dominating consumer spending in the near future — the millennials (a.k.a Gen Y: those born between 1981-2000 give or take). Source The birth of the YOLO card In a statement to The Straits Times, the bank’s managing director and regional head of cards and payments Jacquelyn Tan said: Millennial spending currently accounts for 20 per cent of UOB’s total card spend and one in three millennials in Singapore currently banks with UOB. She reckons that that within the next decade, millennials’ spending habits “will form the backbone of the future economy as they will become the largest segment of the local workforce.”. And hence the YOLO card was born. Source And what’s the best way to target this group of humans? By giving them priority access to bars and clubs such as Kyo and Timbre, access to dining deals at the latest restaurants, and rebates on travel websites such as Agoda and Expedia!!! And that’s not all, UOB YOLO customers will also be among the first in Asia Pacific to make contactless payments with tokenised security. All they have to do […]

8 years ago