Online shopping sees surge in credit card spending

Lim says UOB YOLO demonstrates a commitment to enhance young consumers‘ experience with the bank.

MILLENNIALS’ increasing preference for online shopping has led to a 26% rise in credit card spending among cardmembers aged between 26 and 35 years old in the first six months of 2016, according to recent data from United Overseas Bank (M) Bhd. This is compared with the same period the year before.

The UOB Malaysia data on the spending habits of the bank’s millennial cardmembers showed a 38% growth in online spending over the same period.