DBS Bank Indonesia’s ‘green’ credit card targets Gen Z

The premium Visa card cuts plastic waste by 3.18g and carbon emissions by 7g per card.

Bank DBS Indonesia is intensifying its green push by launching its digibank Z Visa Platinum credit card, which is made from recycled PVC plastic.

The Singapore-based lender, the largest in Southeast Asia by assets, is also targeting the younger generation, particularly Gen Z and Millennials who have been known to patronise sustainable brands.

“Gen Z and millennials care deeply about the future of our planet,” Ari Lastina, head of Card and Loan Business at Bank DBS Indonesia, said in a statement. “Therefore, through the launch of this recycled credit card, we want to provide them with a financial solution that is not only functional but also aligned with their environmental values.”

“We believe that by combining modern financial technology with a commitment to sustainability, we can support the younger generations in their journey towards a more sustainable future,” she added.

Almost three-quarters of young consumers are willing to pay more for environment-friendly products, the Indonesian lender said, citing a 2021 study from First Insight. A similar study by McKinsey & Co. in 2023 showed that Gen Z and Millennials consider personal, social, and environmental impacts when buying things.

Bank DBS Indonesia’s newest credit card, created in partnership with Visa Indonesia and Waste4Change, cuts  plastic waste by 3.18 grammes and carbon emissions by 7 grammes per card, it said.

The digibank Z Visa Platinum card offers key benefits, including the 0% Pay Later feature for up to six months. It also allows cardholders to manage their finances 24/7 through the DBS app.

Users also get exclusive promotions such as Buy 1, Get 1 Free deals, 50% discount at select merchants, and 20% savings on Grab electric vehicle rides.

Beyond consumer benefits, the card serves a greater cause. From 18 September to 31 December 2024, 0.5% of each transaction made through the digibank Z Visa Platinum card will go toward efforts to clean the Ciliwung River in Java.

The initiative aligns with the Indonesian lender’s broader goal of responsible banking, integrating sustainability into its services. The bank said 76% of its customers opt for paperless online applications, which are approved in 60 seconds.

"We are not only providing innovative financial solutions but also encouraging our customers to make a positive environmental impact,” said Melfrida Gultom, director for Consumer Banking.