Friday February 26, 2010
Maybank upbeat on debit card e-transactions
It sees the amount growing 60% to RM2.5bil in FY10
PETALING JAYA: Malayan Banking Bhd (Maybank) expects the value of e-transactions via debit cards to chart 60% growth to about RM2.5bil in its financial year ending June compared with the previous corresponding period.
From July last year to last month, the value of Maybank’s e-transactions was RM1.6bil, said executive vice-president (head, cards and payment consumer banking) Ashraf Ali Kadir.
“The strong growth in the use of debit cards was driven by aggressive campaigns with partners to promote debit transactions and reward offers for payments via Maybank debit or credit cards,” he told reporters at the launch of Maybank’s latest debit-card campaign with Gloria Jeans Coffee yesterday.
Ashraf said Maybank customers’ average debit-card spending a month stood at RM200mil.
“Maybank’s leadership in debit cards is reflected in its 48% share of the total debit cards issued in the country,” he said.
Datuk Ahmad Shalimin Ahmad Shaffie, chairman of Malaysia International Franchise Sdn Bhd (Myfranchise), the master franchiser of Gloria Jeans Coffee, an Australian franchise, said Maybank’s latest campaign with Gloria Jeans was a win-win for both entities to promote cashless payments at various outlets and provide greater convenience for consumers.
Myfranchise also owns a stable of other franchises including forest’secret, Jom Makan, 1901 and Malaysia Kitchen.
He said the campaign, which runs until June 30, offered special rewards and discounts on food and beverages for customers using Maybank debit or credit cards at Gloria Jeans Coffee’s 13 outlets nationwide.
“Our involvement with Maybank’s debit card is in support of the Government’s call to promote cashless transactions,” he said.