Eon Bank Bhd. is looking to add at least another 20,000 cardholders for its newly launched Visa Signature card over the next 12 months, a spokesperson for the Kuala Lumpur-based bank tells PaymentsSource.

The bank hopes to achieve that goal through various promotions, the first one of which the bank will run between June and September this year, he says.

During the promotion, the issuer will provide cardholders special offers on overseas travel, dining, sporting events and entertainment. For example, customers could receive a 50% discount on select dining outlets on weekends.

“We are looking at getting about 5,000 new customers in these three months alone,” the spokesperson says. “The card is targeted at upscale and high-spending customers.”

The bank issues some 660,000 cards supported by the MasterCard and Visa brands, and it expects the total to increase to 700,000 cards in 2010 through various card promotions, the spokesperson adds.

The bank in December reported a 50% drop in credit card applications since the Malaysian government earlier in the year announced plans to tax credit cardholders (See story).

The tax, which went into effect Jan. 1, imposes a 50 ringgits (US$14.70 or 10 euros) tax on primary credit cards and 25 ringgits on secondary credit cards.


Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry