Ayudhya unit launches AIA Visa credit card
Ayudhya Card Services (AYCS) hopes its AIA Visa Credit Card will boost the number of its cardholders to 500,000 by 2016. AYCS says the strategy will expand its services and allow it to serve more customer needs via one card.
In 2009, AYCS, a subsidiary of Bank of Ayudhya (BAY), acquired AIG Retail Bank and AIG Card (Thailand). It spent two years repositioning the AIA Visa Credit Card, focusing on people who look after their health and people looking for life protection.
Sukdee Chongmankhong, managing director of AYCS, said the strategy is aimed at increasing the number of cardholders from 160,000 to 500,000 by 2016.
The bulk of this targeted number, an estimated 90 per cent of the new cardholders, are expected to be signed up by AIA insurance agents.
Insurance agents of AIA are a strong marketing channel, numbering 100,000. In addition, AIA manages 5 million policyholders.
"The agents can help convince AIA policyholders to become the bank's credit cardholders," said Sukdee.
He said there are two types of AIA Visa credit card: the platinum card, which requires a minimum monthly salary of Bt50,000, and the regular card, which requires a minimum monthly salary of Bt15,000.
The company expects premium payments will boost monthly spending to Bt20,0000 on average. Monthly spending excluding premiums is expected to be Bt3,000-4,000.
