Maybank aims to issue 40,000 Maybank Shopee credit cards over 12 months

n a joint statement, the partners said the launch of the co-branded credit card came at a time when more Malaysians were turning to e-commerce. — Picture courtesy of Maybank
n a joint statement, the partners said the launch of the co-branded credit card came at a time when more Malaysians were turning to e-commerce. — Picture courtesy of Maybank

KUALA LUMPUR, June 30 — Maybank is targeting 40,000 sign-ups for the newly-introduced Maybank Shopee Credit Card in the next 12 months.

Its group chief executive officer (community financial services) Datuk John Chong said the co-branded credit card, introduced in partnership with Shopee and Visa, allowed the bank to tap into Malaysians’ e-commerce spending growth and thus give it a competitive advantage to further strengthen its cards business.

“With the unique value proposition of the Maybank Shopee Credit Card and growing adoption of e-commerce, we anticipate this card will be a popular choice among Malaysian shoppers and are expecting a strong uptake,” he said during the virtual launch of the card today.

In a joint statement, the partners said the launch of the co-branded credit card came at a time when more Malaysians were turning to e-commerce for their essentials, with consumers spending an average of 20 per cent more time on Shopee a week.

Meanwhile, Visa Malaysia country manager Ng Kong Boon said local e-commerce segment was growing five times faster than face-to-face shopping.

“We also see that one in eight active Visa cardholders who did not use e-commerce last year made their first purchase online this year, and top categories include essential goods and services, and retail purchases,” he said. 

Malaysians aged 21 to 65, with a minimum annual income of RM36,000, can apply for the card starting July 1.

To find out more on the Maybank Shopee Credit Card, visit https://shopee.com.my/m/maybank-shopee-credit-card. — Bernama

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