PUBLIC BANK TARGETS YOUNG ADULTS
Lender aims for 100,00 take-up within 12 months
LIDIANA ROSLI KUALA LUMPUR firstname.lastname@example.org
PUBLIC Bank Bhd is targeting a collective 100,000 take-up of its newly-launched PB Quantum Visa and PB Quantum Mastercard credit card, both targeting the mass market segment with a minimum annual income of RM36,000.
“We are targeting a take-up of 100,000 cards for both the PB Quantum Visa and PB Quantum Mastercard in the next 12 months,” the bank’s representa- tive told NST Business.
The representative said the mass market segment had longterm growth potential.
“We are targeting young working adults by offering them rewards based on their lifestyle. This segment has great potential for growth and great spending power,” he said.
“We will continue to launch more products to meet our customers’ needs,” he said.
“Our current credit card market share is around 10 per cent. We are growing at double the industry rate for card base, card usage and receivables.”
To cater to its consumers’ lifestyles, the cards offer five per cent cash back online for dining, entertainment and department store transactions.
On top of cash back, cardmembers will also earn up to two times the points for retail purchases.
As a value-added benefit, cardmembers are able to convert any retail purchase of more than RM1,200 in a single receipt to 12 month FlexiPay Plan with zero interest rates.
It should be noted, however, that consumers are required to apply for both cards at the same time.
Bhd managing director Tan Sri Tay Ah Lek (second from left) at the launch of the PB Quantum Visa and PB Quantum Mastercard credit cards at Menara Public Bank in Kuala Lumpur yesterday.