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July 21, 2024

Unionbank and data analytics firm predict credit card boom in the Philippines

Union Bank of the Philippines (UnionBank) and Data Analytics Ventures Inc. (Davi) executives are optimistic about the credit card market in the Philippines, citing “revenge shopping” and increased consumer earnings as driving factors.

The two firms anticipate a 20% market growth this year and have partnered to launch the “Unionbank Go Rewards Visa Credit Card” targeting digital-savvy millennials and Generation Z.

The firms aim to have 200,000 users by mid-2024, targeting the digital shopping preferences of younger generations.

The collaboration aims to leverage their expertise and best practices for mutual benefit.