Twenty years ago, Singapore’s United Overseas Bank (UOB)
launched the first credit card targeted specifically at women. The
product, called the Lady’s Card, is still running and now has
500,000 customers.

The card was one of the earliest
examples of female-focused financial services, a phenomenon that
has spread to all forms of finance – retail banking, wealth
management and insurance. Card issuers that have entered this niche
have discovered a growing market that offers increased volumes,
reduced non-performing loans and greater customer
retention.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

In Europe, it is estimated 79.2 percent of all purchasing
decisions are now made by women. The figure is 80 percent in the US
and, at the current rate of wage increases, women will be earning
more on average than men by 2024. If these customers are generating
increasing wealth and exercising greater influence in financial
decision-making, it makes sense to target them as customers, as
Standard Bank, in South Africa, and TEB, in Turkey, recently
have.

Their research into the market
shows women are 30 percent more likely than men to pay bills on
time, meaning credit risk can be mitigated. Personalised financial
products are also more likely to build loyalty.

The products have not taken off in every country. Women in
Germany find the products patronising and in the US, where the
market for the products appears highest, there are no women-focused
credit cards. What is clear is that well-researched, carefully
considered products in this segment have the potential to deliver
rich rewards.

For full analysis see: Women and Card Benefits: Which
work?

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.