POSB, a Singapore-based bank, has launched Multi-tude by POSB, a card which features both debit and credit functions, to help cardholders manage budget and offer flexibility of having a credit line in times of need
POSB, a part of DBS Group, said that the card will offer credit facility to customers without a minimum income requirement.
Multi-tude by POSB is a debit MasterCard card that is designed especially for youth who are 16 years old and above. The bank will offer customers over 21 years of age the SGD500 micro credit and debit functions regardless of their income level.
Multi-tude by POSB also features the ATM function, NETS and an embedded EMV Smart Chip to provide better security to cardholders.
DBS Bank senior vice president and Cards and Unsecured Loans head Ooi Huey Tyng said that many Singaporeans have been with POSB since young and Multi-tude by POSB is designed to meet their transitional needs as they first establish themselves in the work force.
“Multi-tude by POSB enables them to enjoy the benefits generally accorded to credit cardholders and is a great starting point for them to learn responsible card usage,” Tyng said.