SINGAPORE – Banks are increasingly using star power to grab credit card market share, as entertainment perks are proving to be a powerful draw for customers.
Call it The Swiftie Effect. UOB cardholders across South-east Asia splashed out more than $30 million on tickets to Taylor Swift’s Singapore leg of The Eras Tour in 2024 – where UOB was the official banking and exclusive pre-sale partner for the six sold-out shows. Total spending also jumped more than 35 per cent during the concert period from a week ago.
UOB card sign-ups spiked almost 120 per cent immediately following the announcement of the Swift concerts till the end of the general sale, compared with a similar period in the previous month.
In its latest salvo, UOB is offering cardholders priority access to American pop rock band Maroon 5’s upcoming concert here in February 2027.
UOB is also offering customers access to a one-night-only private concert in September featuring Cantopop star Sammi Cheng, with tickets redeemable only via UNI$ – the bank’s reward points programme in Singapore.
Jacquelyn Tan, UOB group head for personal financial services, told The Straits Times: “This is the first time we are doing a private show that is accessible only for customers who have UNI$. Loyal customers will have accumulated enough reward points based on their banking relationship with us to get access to the concert.”
Speaking at the bank’s private banking suites located at UOB Plaza 1, she noted: “The whole concept is to reward, recognise and give access that money cannot buy to UOB customers who hold multiple banking relationships with us.”
Such perks appear to be working. UOB cardholders who have spent on entertainment have an average monthly spend that is 2.7 times higher than those who do not.
The attrition rate for such cardholders was also close to half that of those without entertainment spend. In the months since the Taylor Swift concert ticket sales to date, card attrition rates have remained stable and low, said UOB.
OCBC and DBS, too, see entertainment partnerships as a way to engage card customers, but said that rewards such as cashback and miles remain their core value propositions.
For instance, OCBC offered priority ticket sales as the exclusive card partner for Hong Kong superstar Jacky Cheung’s six-day concert in Singapore in 2025 – which helped to drive an incremental uptick in new card sign-ups.
Among customers who purchased tickets during Cheung’s concert pre-sale, 20 per cent were previously inactive cardholders who had not used their OCBC cards in the three months leading up to the pre-sale.
OCBC head of card payments and personal loans Regina Lim said that entertainment partnerships are helpful in reinforcing brand salience, keeping the bank at the top of customers’ minds.
She noted that while concerts and major entertainment events tend to drive shorter-term increases in card spend among its customers, they are nonetheless key in generating excitement, and are a crucial part of the proposition OCBC offers to customers.
However, long-term usage remains anchored in core value propositions such as cashback, miles, rewards and spend-relevant benefits, with entertainment benefits playing a supporting role in reinforcing top-of-mind recall and lifestyle affinity, she added.
“Sustained spending and retention, however, are still grounded in the overall proposition of a card – which is where we continue to direct our efforts, through engaging with partners in the entertainment space and beyond,” said Lim.
Chan Sow Han, DBS Singapore’s head of payments and unsecured lending for consumer banking group, said that rewards like cashback and miles still remain an important part of the bank’s offering, even as it is expanding the ways to create value for customers through a broader suite of lifestyle benefits, including entertainment.
The bank’s approach spans exclusive discounts and priority access, as well as curated privileges for entertainment and lifestyle events. These included outdoor music and water festival Waterbomb, crew dance competition Super24, a fan meet with Lisa of K-pop girl group Blackpink and the Wicked: For Good Experience at Sentosa, which featured large-scale installations inspired by the Land of Oz.
DBS data showed that customers who use their DBS or POSB cards for entertainment purchases spend three times more overall than those who do not.
Zennon Kapron, director of global fintech and payments consulting firm GL Insight, said the real test is whether those newly signed-up credit cards are still being used six months after the concert.
“Banks that treat the concert as the start of the relationship win. Banks that treat it as the product end up with a drawer full of dormant plastic,” said Kapron, adding that a bank that secures Swift pre-sale access holds something no competitor can buy at any price.
“Miles and cashback work every day, while concerts happen a few times a year. The winning formula pairs lifestyle partnerships with rational rewards to retain customers.”
UOB’s regional footprint across Singapore, Malaysia, Thailand and Indonesia is also an advantage when it comes to tour-wide partnerships, said Kapron, adding that a single-market bank cannot match that.
Avid concertgoer Valerie Wong, however, said that access to pre-sales is not a huge draw for her when it comes to credit cards as earlier access does not guarantee a ticket.
“For a concertgoer, discounted tickets or special concert experiences would be more attractive,” said the 35-year-old public relations professional, adding that it ultimately depends on the artiste or genre.
Cherriene Cheong, another concertgoer, said that priority sale access does give fans a leg-up in seeing their favourite artistes live.
The 45-year-old former account manager managed to secure tickets to Cheung’s and Taiwanese singer-songwriter Jay Chou’s concerts with her OCBC card.
Cheong, however, noted that while entertainment perks are a great bonus, they are not her main determining factor when it comes to card choice.
“My cards need wider utility for more consistent use,” she said, adding that she uses her OCBC card more for everyday benefits such as cashback.
