UOB launches millennial-focused credit card

UNITED Overseas Bank (UOB) on Wednesday launched UOB YOLO, a millennial-focused credit card that the bank says captures the essence of the millennial mantra, "You only live once".

The new card gives millennials 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.

This is aligned with results from the latest UOB Young Professionals Survey, which found that millennials' wanderlust and desire to share culinary experiences with friends and families largely shape their spending behaviour. The survey polled 621 UOB cardmembers aged between 26 and 35 years old in January.

The UOB YOLO also features South-east Asia's first "quick read" card face, designed to make customers' e-commerce experience more convenient, said UOB. Instead of the 16-digit card number laid out in a horizontal line, the card numbers are laid out in a four-by-four stack on the top right hand corner of the card, making it easier for customers to read when conducting online transactions.

UOB YOLO customers "who are adept in all things digital" can also be among the first in the Asia-Pacific to make contactless payments with tokenised security, by tapping their Android smartphones at the more than 10,000 NFC-enabled terminals in Singapore through the UOB Mighty app.

Said Jacquelyn Tan, managing director and regional head of cards and payments: "The UOB YOLO ... demonstrates our commitment to enhancing the banking experience for young professionals."