Release Of #YOLO Card Proves That UOB Knows Its Consumers Best

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).



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.


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 is tap their Android smartphones at more than 10,000 compatible terminals in Singapore through the Bank’s mobile app UOB Mighty — which will also offer access to local dining deals and food reviews.

The design

And to make sure this card is really FOR the millennials, they have a super sleek website which shows off their tech skills — since this card is pretty hi-tech itself. They also made sure the design was unique — basically not the typical boring credit card which isn’t as YOLO.

So this is how the card will look like. Pretty cool eh?



Did you know that one way to attract millennials is to arrange credit card numbers differently in four by four columns of digits?This ‘quick read’ card face (apparently the first in Southeast Asia) is said to make the e-commerce experience more convenient when keying in credit card details during online shopping, since it is easier to read.





We couldn’t help but wonder why the bank decided to call the card #YOLO. Yes, it’s a term youngsters use… but not that much?

So we did a quick search on the definition of yolo, and now we know why.

Screen Shot 2016-03-31 at 16.21.34

That’s right, it’s the dumbass excuse for something stupid that one is about to do with the card. And well, UOB wasn’t wrong in choosing such a name. Such cards with their easily accessible features are bound to make one spend on impulse almost ALL the time. And we won’t be surprised if one spends a significant sum of money using the card, simply because #YOLO…

And because of such a #YOLO mindset, UOB will earn its YOLO moolah too.

not cool


Too good to be true?

As the saying goes “if something seems to good to be true, it probably is”. While UOB has certainly done a fantastic job with the marketing of the credit card and making everyone WANT to own one of these, never forget that at the end of the day, the bank is just out to make its money. And by allowing people to spend big sums of money they don’t have, it also means returning the money one obviously doesn’t have.

With great spending power comes great responsibility, so spend wisely guys :’)



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Featured image via UOB
With reference to The Straits Times, UOB YOLO

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