Banks see spike in credit card applications as Covid-19 restrictions taper off
Some behaviours like e-commerce and contactless payments, that have displaced the use of cash, are here to stay, and are good for the credit cards space, banks say
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Singapore
MORE people are heading to banks to get their hands on credit cards amid a confluence of factors relating to the easing of Covid-19 measures such as travel restrictions, banks polled by The Business Times said.
Jacquelyn Tan, head of group personal financial services at UOB, said that the bank has seen a 44 per cent year-on-year increase in credit card applications for the first quarter of 2022.
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