DBS Bank Records An Increase In Retail Transactions Of Up To 20 Percent

DBS Bank Public Relations

JAKARTA - Bank DBS Indonesia noted that the percentage of people who increased their Ramadan budget increased by 57 percent compared to last year, and the total public spending increased by 10 percent compared to 2019, before the pandemic.

Meanwhile, digibank credit card retail transaction data in March 2022 are approaching normal with the shift to e-commerce platforms and international transactions, where total retail transactions reached 20 percent higher than the same period last year.

Director of Consumer Banking Group PT Bank DBS Indonesia, Rudy Tandjung, said in terms of debit cards and daily transactions, Bank DBS Indonesia recorded stable transaction growth compared to last year.

"In the first quarter of 2022, offline spending (on-site) increased by 26 percent, supported by spending on culinary, basic goods (groceries) and clothing", he told the media, Sunday, May 1.

Most transactions through the digibank by DBS application are also widely used for e-commerce, online food ordering, and subscribing to entertainment channels. digibank by DBS also provides benefits to customers with various promotions for daily transactions, one of which is cashback for various debit card transactions as well as Pay & Buy services through applications, such as e-money top-ups and bill payments.

“Through DBS Indonesia's digital capabilities, we are optimistic that customers can optimize the digibank by DBS application for their daily banking needs. Not only to check balances and transfers, but customers can also invest so they can 'level-up' their finances", he continued.

To meet customer needs for instant services during Ramadan and the Eid al-Fitr holiday, Bank DBS Indonesia has an easy digital solution for all needs through digibank by DBS. Starting from opening savings accounts, deposits, investments, and credit card settings, to instant KTA applications with just one click in one application.

The digibank by DBS application makes it easy for customers to make various digital transactions, one of the breakthroughs in the online digital credit card application with 60 seconds of approval.

The growth of the credit card segment is increasingly attractive with the growing trend of BNPL (buy now, pay later) in Indonesia which will still increase in 2022 in line with the desire to improve the quality of life after the pandemic. The current use of BNPL is no longer only in terms of meeting primary needs.

"The BNPL trend has begun to become an option for people to fulfill a fast-paced lifestyle, namely shopping for electronic equipment and fashion needs, to planning holidays through e-commerce", he explained.

He further added that as many as 30 percent of people have increased their online spending to meet their daily needs. The trend of BNPL services is increasingly in demand because it is considered to provide convenience in transactions, is fast, and offers installment options that can assist the community in managing cash flow while fulfilling a lifestyle according to the needs of their use.