Danamon Grab Credit Card Records Positive Growth, Driven by Attractive Features and Promos Tailored to Needs of Young Consumers

Press Release / 03 October 2024

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Jakarta, 3 October 2024 - Amid the strong demand from customers and the wider community for reliable and up-to-date financial products, PT Bank Danamon Indonesia Tbk (Danamon) continues to provide updates on the performance of the Danamon Grab Credit Card, which has seen steady growth since its launch several years ago. Targeted at dynamic young consumers, this credit card has made impressive results. As of September 2024, the number of users, transactions, and transaction value have all doubled year-on-year, reflecting the high enthusiasm and strong demand for this product. 

Tailored to the characteristics of Gen Z, particularly those born between 1997 and 2012, the Danamon Grab Credit Card offers numerous benefits. Among these is the convenience it provides, enabling cardholders to easily make transactions within the Grab app, such as GrabCar, GrabBike, and GrabFood, while also supporting other lifestyle-related purchases favored by today's younger generation. All of this is designed to promote better financial management, aligning with the needs and habits of modern youth.

"This credit card is the result of a collaboration between Danamon and Grab, one of Danamon's key strategic partners. This partnership is a tangible demonstration of Danamon's commitment, along with its group of companies and strategic partners, to continuously transform as a unified financial group. We remain dedicated to being a trusted, customer-focused financial partner by offering innovative and comprehensive financial solutions, enabling our customers to grow with us," said Enriko Sutarto, Consumer Lending Business Head, PT Bank Danamon Indonesia Tbk.

The strong interest of Gen Z in the Danamon Grab Credit Card is not without reason. This product is specifically designed to meet the needs and characteristics of young Indonesians. According to qualitative research involving over 600 Gen Z respondents from 10 major cities in Indonesia, as outlined in the 2024 Indonesia Gen Z Report released by the IDN Research Institute in collaboration with Advisia, there has been a notable shift in Gen Z behavior—a generation that has been digitally literate from a young age. Contrary to the stereotype that Gen Z is impulsive and wasteful, this survey reveals the opposite. One key finding shows that Indonesian Gen Z consumers are highly budget-conscious and have a strong understanding of price dynamics for products and services. As a repercussion, they tend to be more cautious and thoughtful before making purchasing decisions.

Another key characteristic of Gen Z consumers identified by the survey is their reliance on the internet as the primary source of information to support their purchasing decisions. They frequently seek online references, such as product comparisons and reviews of tourist attractions or restaurants they plan to visit. The type of content they engage with is highly relevant to their personal preferences, including categories like food, clothing, beauty products, electronics, and gadgets. Gen Z also views advertisements and social media content, particularly on platforms like TikTok and YouTube, as the most effective sources of influence when making shopping decisions.

Hence, with the tagline "Jadi Diri Gue (Be Myself)," the Danamon Grab Credit Card serves as the perfect shopping solution for Gen Z consumers who are both budget-conscious and deeply connected to the digital world. Equipped with a range of cutting-edge features, the Danamon Grab Credit Card is specifically designed to support Gen Z's lifestyle, making both online and offline transactions seamless while helping them manage their daily finances with ease.

Customers have multiple ways to simplify their transactions. These include registering the Danamon Grab Credit Card in the Grab app for seamless transactions with GrabCar, GrabBike, GrabFood, and more, as well as using QRIS D-Bank PRO for payments, funded directly through the credit card. All these conveniences eliminate the need for customers to use a physical credit card for transactions. Additionally, customers can better manage their finances with features like credit card limit settings and My Own Installment, which allows them to convert purchases into installments with interest rates starting as low as 0%.

Additionally, the Danamon Grab Credit Card offers a variety of attractive promotions tailored to support the Gen Z lifestyle. These include a welcome offer of up to Rp675,000 in Grab vouchers, along with 5x D-Points for transactions on Grab, which can be redeemed for Grab vouchers starting from Rp25,000 per month. The card also provides exciting discounts and offers for both culinary experiences and online shopping at popular platforms and restaurants such as Shopee, Tokopedia, Sushi Tei, Sushi Kiosk, Tom Sushi, Sushi Kyuden, Hokkaido-Ya, Yoka Yoka, and many more.

Danamon is aware that today’s Gen Z is highly financially literate, digitally savvy, and dynamic. They use the internet and social media to search for information and compare products and services that fit their lifestyle needs. To that end, the Danamon Grab Credit Card, with its relevant features, benefits, and promotional programs, is designed to help them achieve this, aligning with our commitment to providing seamless and customized financial solutions for every customer," Enriko concluded.

For more information, please visit: bdi.co.id/ccgrab

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