Corp News

Maybank Debit Card Spend Up 18% at Mydin Stores

30 July 2009

4 min read

Maybank, the country's leading debit card issuer and merchant acquirer, has seen an 18% increase in debit cards spend on Mydin hypermarkets during the recent "Senang Menang Kembali Lagi" campaign jointly organised between Maybank and Mydin, one of Malaysia's leading hypermarket operators compared to the previous corresponding period.


The campaign held from mid-December 2008 to mid-April 2009, offered a total of 10 million TreatsPoints to winners valued at more than RM100,000 in prize money. Customers who spent a minimum of RM80 at any Mydin outlet transacting with either their Maybankard Visa Debit or their Bankcard ATM card automatically qualified for the contest. The contest offered eight Grand Prize of 1 million TreatsPoints each to the winner.


"This campaign drew over 60,000 entries and this is indeed encouraging as it affirms that debit payments are fast becoming a common mode when shopping as more customers and merchants are becoming aware of the benefits it offers," said Ashraf Ali Kadir, Executive Vice President and Head of Cards & Payments, Consumer Banking, Maybank at a prize presentation ceremony held in Menara Maybank today. "We are seeing double digit growth month-on-month in debit card spend since we launched the Maybankard Visa Debit in March 2008."


Also present at the ceremony were Mydin Mohamed Holding Berhad's Managing Director, Dato' Hj Ameer Ali bin Mydin and its Executive Director, Tuan Ahimmat Bin Mydin.


Ashraf said that the campaign had also successfully generated greater awareness on the multiple benefits and rewarding experience of using the ATM card for direct debit payment convenience while shopping in Malaysia. "Besides the convenience of cashless payment, debit cardmembers also receive TreatsPoints. TreatsPoints accumulated by debit cardmembers including Maybank Visa Debit totalled over half a billion in the last financial year where they can redeem for a range of goods and services."


Ashraf also said that debit card spending has been growing by leaps and bounds over the years and Maybank as leader in debit cards in Malaysia provide a range of services and facilities to promote cashless transactions using debit cards. "Maybank captures some 85% of market share of debit card spend. It has the largest debit card consumer base of over 7 million debit card holders including 1.6 million Maybank Visa Debit cards holders using it for everyday spend including paying utility bills, entertainment and dining. It has the largest debit card merchants of over 100,000 nationwide with more signing up to give customers more convenience and value with their debit card."


"We are happy to be working with Maybank again for the "Senang Menang Kembali Contest", a collaboration between the two homegrown tigers, Maybank and MYDIN. Our participation shows our commitment in supporting Bank Negara's call towards a cashless society," said Dato' Hj Ameer Ali Bin Mydin.


Dato' Hj Ameer Ali also gave away prizes to six MYDIN branches that received recognition for the best sales achievement in the "Senang Menang Kembali Contest". The winners are USJ Subang Jaya Hypermarket, Kuala Terengganu Hypermarket, Sinar Kota Emporium, Mydin Bazaar Putrajaya, Selayang Emporium and Masjid India Emporium.


To date, MYDIN, a Bumiputera-owned retail company, has more than 40 outlets nationwide inclusive of 3 Hypermarkets in USJ Subang Jaya, Kuala Terengganu and MITC Ayer Keroh Melaka, 19 Emporiums, 2 Superstores (Mydin Melaka Bazaar 24 hours and Mydin Bazaar Putrajaya), 10 mini markets (called "My Mydin"), 5 convenience stores (called "My Mart") and 5 MYDIN MART which is part of its franchise program.