South Africa’s Standard Bank, the country’s
largest credit card provider, has launched MyCard, a credit card
designed and conceived especially for women.
“Today, women influence the majority of
financial decisions in households, from decisions on new homes,
food, vacations and even bank accounts,” said Leila Fourie,
director of the Standard Bank Card Division.
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“Standard Bank has taken account of all these
factors and has developed a product that will cater for, and reward
women for the role that that play in executing financial
decisions.”
The card offers a rewards programme known as
MyGift, offering cardholders cash back on all purchases.
“We wanted to ensure that the card had substance
as a concept. We had to offer real benefits to women rather than
launch a credit card whose only difference was its feminine
design.
“Our decision to offer this first of its kind
product in South Africa is based on empirical evidence and an
understanding on our part of who women are and what it is that they
need from a bank,” said Fourie.
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By GlobalDataStandard has a market share of around 33% of
card loans and advances; rival Absa has just over 26% with FNB and
Nedbank around 20% and 13% respectively.
