, Singapore
833 views

UOB renames YOLO credit card to UOB EVOL card

Targeting Gen Z customers, the card offers 8% cashback on online purchases.

UOB has renamed the UOB YOLO credit card to the UOB EVOL Card, reportedly chosen by the bank’s Gen Z customers.

The card offers 8% cashback on purchases made online or via mobile contactless platforms such as ApplePay, SamsungPay, or GooglePay each month. Users will also earn 0.3% cashback on all other purchases, for a combined maximum monthly cashback amount of $60, or up to $720 in cashback in a calendar year.

To be eligible for cashback, UOB EVOL cardmembers need to charge a minimum of $600 on their card each month.

Cardmembers will also be able to track their expenses and cashback effortlessly, at any time and anywhere, through UOB’s AI-driven insights service Mighty Insights. This service is integrated within the Bank’s all-in-one mobile banking app UOB Mighty.

Mighty Insights provides customised insights on each customer’s unique spending and saving patterns to guide them to be more financially disciplined and to optimise their UOB EVOL Card benefits.

Gen Zs are expected to make up a quarter of Asia’s population by 2025, UOB said, and have vastly different needs to Millennials. For instance, research has shown that Gen Zs are more pragmatic having grown up during the global financial crisis and are more conscientious about their financial well-being as a result.

“With Gen Zs making up more than one million of Singapore’s population today and expected to form the bulk of Singapore’s workforce by 2030, we have revamped our flagship credit card to serve their unique lifestyle priorities and financial goals,” said  Jacquelyn Tan, head of group personal financial services, UOB.

“The UOB EVOL Card has been redesigned for a generation who are sustainability-oriented and digital natives with a preference to shop online. Our ambition is to be the primary choice of card for Generation Z consumers and to bank one in two consumers in this segment within the next three years,” Tan added.

The UOB EVOL Card will also be rolled out progressively in Indonesia, Malaysia and Thailand. Existing UOB YOLO cardmembers will enjoy the UOB EVOL Card benefits beginning 17 June.

UOB EVOL Card is also touted as Southeast Asia’s first bio-sourced credit card by the bank. It is reportedly made up of 82% polylactic acid (PLA) and created from renewable sources which are safe for the incineration process.

An EVOL Card that has expired and discarded is biodegradable in an industrial facility, UOB assured.

Follow the link s for more news on

Pembekuan pendanaan menghantam penyedia layanan BNPL

Investor semakin sedikit mengalirkan dana ke penyedia layanan BNPL yang sudah menghadapi keuntungan margin yang tipis.

HSBC: Aliansi bank-fintech merupakan win-win

Pemberi pinjaman dapat belajar dari teknologi disruptif sambil membantu mereka mematuhi regulasi.

Tokenisasi aset perdagangan untuk menjembatani kesenjangan pembiayaan

Teknologi blockchain dapat mendesentralisasikan operasi keuangan dan mempermudah akses kredit.

BCA menjalankan komitmen terhadap keuangan berkelanjutan

Bank asal Indonesia ini mempertimbangkan aspek lingkungan dan tata kelola dalam keputusan pemberian pinjaman.

Mengapa UNOBank mendorong embedded finance tumbuh di Filipina

Bagi UNOBank, banking interface terpadu adalah strategi pertumbuhan sekaligus upaya inklusi keuangan.

OCBC mencoba mengurangi kesenjangan manfaat bagi agen properti di Singapura

Produk terbarunya menawarkan manfaat finansial di bidang perbankan, asuransi, dan perdagangan.

Upaya Malaysia menjadi anggota BRICS untuk mendorong perombakan sistem perbankan

Namun, tantangan muncul ketika menjauh dari ketergantungan pada AS dan SWIFT.

Platform pembayaran PingPong memperoleh lisensi PJP di Indonesia

PingPong mengincar ekspansi ke pasar ekspor senilai $320 miliar di negara tersebut.

Merger dan penutupan mengancam 3.800 bank di area pedesaan Cina

Sekitar 70 bank di area tersebut telah merger sejak 2023.