UOB Malaysia eyes 30,000 new PRVI Miles cardholders

PETALING JAYA: United Overseas Bank (Malaysia) Bhd (UOB Malaysia) aims to attract 30,000 new cardholders for its newly launched travel specific credit card UOB PRVI Miles by end of the year, based on the increased demand for intra-regional spending among its cardholders.
Its managing director and country head of personal financial services Annie Tan Huey Ping said the bank is confident of achieving this target, which is aimed specifically at Malaysian travellers.
Tan claimed the UOB PRVI Miles credit card, which is a Visa version, offers the highest reward points among travel-specific credit cards in the country.
"For every ringgit spent overseas, cardholders will be rewarded with five times UniRinggit points, which can be redeemed for air miles with more than 60 partner airlines, including Air Asia and Singapore Airlines," she said, noting currently the bank has more than 600,000 credit cardholders and about 200,000 debit cardholders.
For the first six months, Tan said its cardholders' overall credit-card spending during their travels in Southeast Asia has increased by 20% to RM111 million over the same period in 2014.
She said in terms of year-on-year growth, the bank is always aiming for 20-30% growth in Malaysian credit-card holders overseas spending.
"It is common for our card members to travel around Southeast Asia frequently for business and leisure. When they are anywhere in Southeast Asia, we want them to know that they too can enjoy the same lifestyle benefits that locals do, from dining treats at top restaurants in Singapore to shopping discounts in Bangkok," she added.
Tan noted that during their travels in the region, its card members mostly spent on retail shopping, taking up 20% of their total card spend, followed by 15% on hotel accommodation and 5% on dining.
After launching the new credit card, she said the bank hopes the average monthly spending will be at least RM1,500 per month.
UOB Malaysia offers commercial and personal financial services, including cash management, home loans, credit cards, wealth management, general insurance and life assurance.