Individuals are changing their habits: a turnover of payments with a payment card has increased by more than a quarter


Payment cards become more and more popular means of payment - according to Šiaulių Bankas the turnover of purchases acquired with payment cards has increased more than by a quarter (26.7 per cent) over the year.  Šiaulių Bankas forecasts that the turnover of payment card transactions is further to grow this year whereas the cash operations will be gradually decreasing. 

"We can see that more and more customers are using payment cards as the major instrument for payments - they appreciate a convenient and safe way to make a payment. To be precise, part of the clients still use a card fairly seldom and give their preference to cash.  We have decided to foster the clients to figure out the  obvious benefits of a payment card and encourage them to use it on regular basis", - said Deputy Chief Executive Officer of Šiaulių Bankas, Head of Business Development Division Daiva Šorienė.

This year Šiaulių Bankas has set the objective to increase the overall average customer card payment frequency and thus to reduce the relative share of cash. According to the bank, in the first quarter of the year the amount of cash withdrawal transactions reached two thirds from the total card transaction amount. 

"More frequent use of payment cards is changing the daily financial habits - individuals start more actively using the modern banking channels - they check their account balances and execute payments on-line. We should also admit that need to have cash and pay with it  as well as check account balances and withdraw cash using the ATMs  is decreasing.

Seeking to encourage people to actively use the card, Šiaulių Bankas carries out a campaign during which it invites the customers to pay with the MasterCard credit card at least 5 times a week and participate in the campaign, during which they can win 10 monetary prizes and  the grand prize - a week-long trip to Japan for two persons.

At the beginning of April this year the bank has introduced contactless payment cards that can be used to pay for goods and services without entering a PIN code when the settlement amount does not exceed 10 euros. Šiaulių Bankas also offers the additional security programme subscribing to which the card holder will be subject to compensation of losses if the card is lost, stolen or used illegally.

More information on the campaign terms is available here, it also may be provided by telephone 1813 ( +370 37 301337 when calling from abroad or visiting nearest customer service point of Šiaulių Bankas.