HomeBlogUOB Malaysia and Visa Launch Exclusive Credit Card to Meet Affluent Malaysians’ Taste for Travel

UOB Malaysia and Visa Launch Exclusive Credit Card to Meet Affluent Malaysians’ Taste for Travel

Kuala Lumpur, Malaysia, 15 January 2019 – United Overseas Bank (Malaysia) Bhd (UOB Malaysia) today announced the launch of the UOB Visa Infinite Metal Card, a credit card offering travel-related rewards and benefits to meet the exacting luxury travel needs and expectations of its affluent customers[1]. The card, which is available to customers on an invitation-only basis, is launched in partnership with global payments technology company Visa.

According to UOB Malaysia’s data, travel-related expenditure among affluent cardholders has grown by 35 per cent since 2016[2]. In 2018 alone, affluent cardholders spent RM205 million on travel-related products and services[3], a 23 per cent increase from the previous year. Travel-related spending experienced the highest growth across all spend categories in 2018, followed by insurance (10 per cent), retail (seven per cent) and medical (seven per cent)[4]. In 2018, 20 per cent of cardholders’ total credit card billings were charged in foreign currencies, affirming that Malaysian cardholders are using their credit cards overseas[5].

Given the increasing travel-spend of its affluent cardholders, UOB Malaysia has designed a card especially for those who crave convenience and comfort when they travel. Benefits of the UOB Visa Infinite Metal Card include first-class travel privileges, a competitive air miles redemption programme, accelerated reward points for overseas spend and a 24-hour worldwide concierge service.

Mr Ronnie Lim, Managing Director and Country Head of Personal Financial Services, UOB Malaysia, said the growing affluence of Malaysian consumers is giving rise to a set of people who travel extensively for work or leisure.

“For this set of travellers, using a credit card is convenient as there is no need to carry large amounts of cash. Credit cards also offer consumers protection against fraud and theft, offering them added peace of mind and security, especially when they are travelling.

“To support our affluent customers’ lifestyle choices more specifically, and to enhance the luxury travel needs of our customers, we partnered Visa to design a credit card that goes beyond the Visa Infinite rewards programme. With more than 60 partner airlines and a competitive conversion air miles programmes, the UOB Visa Infinite Metal Card has been created with the affluent frequent flyer in mind,”

The UOB Visa Infinite Metal credit card offers a best-in-class air miles conversion rate of 4,500 UNIRinggit for 1,000 air miles with selected airlines. Cardholders also enjoy exclusive travel privileges including unlimited access to airport lounges worldwide and complimentary limousine rides to the Kuala Lumpur International Airport (KLIA) and KLIA 2[6]. The card also offers complimentary travel insurance coverage of up to RM1,000,000 and access to the Visa Concierge service to help cardholders make restaurant reservations, source and purchase theatre tickets or to get information on special events and performances[7].

In moulding the UOB Visa Infinite Card from bronze metal, UOB Malaysia offers customers a card that is durable and unique.

“We wanted to create a card that not only provides premium travel and lifestyle benefits to our customers but is also resistant to the wear and tear from prolonged and regular use. Made of bronze, the UOB Visa Infinite Metal Card carries weight in its body and in its name. It is an exclusive card created for the discerning affluent individuals who values convenience and comfort and enjoys travelling, dining and shopping,” Mr Lim said.

Mr Ng Kong Boon, Visa Country Manager for Malaysia, said, “We are extremely excited to partner UOB Malaysia to introduce the UOB Visa Infinite Metal Card. Today, we continue to see strong growth in the number of affluent Malaysians at close to 20 per cent year-on-year[8]. We believe it is important to provide affluent cardholders a product that tailors to their premium travel and lifestyle requirements. In addition to the list of luxury travel benefits offered in this product, affluent Malaysians also get to enjoy our concierge service available through the Visa Concierge app. Visa Concierge provides affluent cardholders with a real-time channel to arrange for services such as hotel, flight and restaurant reservations.”

The UOB Visa Infinite Metal Card offers customers a range of other benefits and rewards including access to prestigious members-only clubs and golf clubs across the region, as well as 24-hour access to the Visa Concierge service[9]. The UOB Visa Infinite Metal Card is available by invitation only to customers who have a minimum annual income of RM300,000 and investable assets of above RM3 million with UOB Malaysia[10].

UOB Visa Infinite Metal Card

ALL STYLE, ALL SUBSTANCE

The world looks different to everyone. But a visionary sees beyond the ordinary. You know that decadence lies in the details. That’s why the UOB Visa Infinite Metal Card gives you access to a world of rewards, in a new iconic metal finish that’s a cut above the rest.

For more information on the UOB Visa Infinite Metal Card, please log on to www.uob.com.my.

[1] UOB Malaysia defines its affluent customers as customers who have a minimum annual income of RM300,000 and investable assets of above RM3 million with UOB Malaysia.

[2] UOB Malaysia Visa Infinite cards data from 1 January 2016 to 31 December 2018.

[3] UOB Malaysia Visa Infinite cards data from 1 January 2018 to 31 December 2018.

[4] UOB Malaysia Visa Infinite cards data from 1 January 2017 to 31 December 2018.

[5] UOB Malaysia cards data as at 31 December 2018. UOB Malaysia defines overseas card spend as expenditure incurred abroad in foreign currencies other than the Malaysian Ringgit. This includes over-the-counter spend and online transactions.   

[6] These offers are subject to UOB Malaysia’s Visa Infinite Metal Card campaign Terms and Conditions.

[7] Subject to Visa’s terms and conditions.

[8] VisaNet data as of September 2018

[9] Subject to Visa’s terms and conditions. For more information, visit www.visa.com.my

[10] By invitation only and subject to UOB Malaysia’s terms and conditions.

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