BSN sees 10 pct rise in credit card spending this year

KUALA LUMPUR: Bank Simpanan Nasional (BSN) expects a 10 per cent hike in its credit card transactions this year as the Covid-19 pandemic spurs more online and e-commerce spending.

Chief business officer Mujibburrahman Abd Rashid said the bank has seen substantial growth in e-commerce spend and e-wallet top-ups as many of its credit cardholders use the credit card to top up their e-wallets and opt for cashless transactions.

“As at June 2021, BSN recorded 9.4 per cent growth in credit card transactions compared to the same period of last year. On the other hand, BSN recorded an 84 per cent growth in debit card transactions compared to the same period of last year.

“We also reached about RM14 million worth of e-wallet top-ups using BSN credit cards for March 2021, compared to RM1.5 million in the same period last year (March 2020),” he told Bernama.

BSN also plans to attract more active credit card users by launching campaigns, promotions and merchant privileges for existing members.

“Apart from that, we recently introduced a new cashback credit card for members who prefer fast reward in the form of cashback instead of reward points,” he said. – Bernama