'MTV' credit card issued for young generation

'MTV' credit card issued for young generation

The Jakarta Post, Jakarta

With at least 15 million potential credit card users remaining
untapped in the country, credit card issuers -- mostly banks and
hypermarkets -- are now competing to attract young customers.

One credit card issuer, MasterCard International, recently
issued an MTV MasterCard credit card in collaboration with GE
consumer finance and MTV Network Asia. The card is aimed at fresh
university graduates or those starting their first jobs.

"The MTV credit card is one way we are trying to attract the
young, professional segment of the market," said MasterCard
International vice president and country manager Vadyo Munaan
during the card's launch on Friday.

The card offers deals including access to events such as the
MTV Music Awards and MTV Summer Summit Concerts in Indonesia and
Asia along with discounts at popular youth meeting places.

Chief executive officer of GE consumer finance, Harry
Sasongko, said such privileges were provided since "the MTV
credit card market segment was specific".

While vice president consumer product networks of MTV Asia
Indra Suharjono said the reason for targeting the younger market
was because "young Indonesians are not only crazy for shopping
but also have strong passion for music".

"We are confident that the MTV credit card will bring benefits
to this (market) segment," she said.

To apply for the MTV MasterCard credit card, an applicant must
be at least 21 years old and have a minimum income of at least Rp
26 million (US$2,802) a year. They must also submit a copy of
their tax number.

Indonesian Association of Credit Card Issuers data says credit
cards are currently used for 10 to 12 million transactions a
year, worth as much as Rp 30 trillion.

Previously, MTV had worked together with Lippo Bank to issue a
LippoBank MTV Card, a debit card, for those aged between 15 and
25. (004)