Tips for Gen Z to save money while shopping in an online card.

Online payment helps Gen Z to shop safely, save money, and take advantage of discounts in the context of increasing demand for online spending.

Gen Z (born from 1997 to 2012) is a generation that easily accesses the digital world, often carrying their phones with them and adopting a “cashless” mentality.

This trend has formed habits for Gen Z in shopping, ordering online, and paying online. From essentials, personal care items, household goods to fresh produce, food… all can be paid for with just a phone and an integrated online card. For young consumers, online shopping has become an indispensable “spice” in life.

Besides hunting for discount codes and big promotional periods from e-commerce platforms, Gen Z can also take advantage of significant and practical benefits from banks with their online payment cards.

If used effectively, these online cards become useful in managing personal finances.

Online payment helps Gen Z to shop safely, save money (Photo: TPB).

Disciplined spending

In reality, Gen Z are young people who often have low incomes, and having a ready amount of money in their card can make many people afraid of not being able to control their spending and overspend.

Gen Z customers should set spending limits based on their ability. For example, if they are currently students, their spending limit should only be around 3-5 million dong. If they are already working and have a steady income, the spending limit can be raised to 2-4 million dong per month compared to before.

Maintaining discipline in spending, Gen Z can also consider the interest-free period of some credit cards to avoid incurring interest costs. Banks usually waive interest for up to a maximum of 45 days, with some banks offering 55 days from the date of spending. When given an interest-free period, Gen Z will have that time to prioritize personal finances, even investing or depositing savings.

In addition, young users can use 0% interest installment services for transactions with flexible terms to avoid pressure when it comes time to pay.

Take advantage of cashback and reward points

Depending on the type of card, customers should use all available benefits to optimize costs. If it’s a cashback card, banks can refund amounts ranging from a few hundred to tens of millions of dong. If it’s a reward points card, users can redeem them for vouchers, cash, or payment discounts.

In addition, Gen Z needs to pay attention to promotional information released by banks during each period to show appreciation to customers. For example, paying with an online card could result in discounts when buying clothes, tours, food, buying plane tickets, etc.

Gen Z may not need a card to shop online (Photo: My Tam).

Quick and convenient operation without using a physical card

The fast and convenient operation without using a physical card is suitable for the trend of cashless payment being promoted in society. On the other hand, it helps customers avoid giving their payment card to others, touching physical payment buttons or exchanging cash.

TPBank’s linking with Apple Pay allows Visa cardholders to use their iPhone, Apple Watch, Mac for direct payment when shopping or using services instead of the bank’s physical card.

Apple Pay is accepted at convenience stores, pharmacies, taxi companies, restaurants, cafes, retail stores, and many other places. The launch of this payment method meets the needs of young customer groups like Gen Z who are fond of technology and convenience.

For customers who do not have a TPBank account, they can open a 100% online card via the app, website, or at 500 LiveBank points 24/7. The bank will automatically grant credit limits based on trust with customers. Customers only need to press the “open card” button to activate the limit for immediate use. After adding the card, customers can transact and receive cashback benefits on their first payment with Apple Pay.

To use, customers double-tap and hold their iPhone or Apple Watch near the payment gateway to make contactless payments. Transactions are secure because they are authenticated by Face ID, Touch ID or device passwords, along with a one-time dynamic security code.

Check carefully when shopping online

Online transactions still have risks, and customers should only activate and use the service when needed. If you have activated the service but do not have regular transaction needs or have not had transaction needs for three consecutive months, you should request to close the service after completing the transaction.

Customers also need to prioritize using personal computers to conduct transactions and only transact on reputable, secure websites, carefully reading the terms and conditions. At the same time, never provide information or click on links included in unsolicited emails.