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Maybank Aims 53% Mobile Banking Users Growth With M2U

21 July 2010

6 min read

Maybank Targets 53% Growth in Mobile Banking Users With New M2U Mobile

Maybank is targetting to increase its mobile banking customer base by 53% to over 290,000 by July 2011 following the launch of its enhanced Mobile Banking Service or M2U Mobile, as well as new services and joint marketing campaigns with telecommunication operators such as Celcom, Maxis and DiGi.


The enhanced M2U Mobile enables customers to access the bank’s portal using any phone model or telco operator for their banking, bill payment or e-commerce transactions. It is poised to support a 40% increase in average monthly transaction for M2U Mobile within a year from 70,000 to 100,000 a month.


Speaking of the new service, Maybank Deputy President and Head of Community Financial Services, Lim Hong Tat said, “The new M2U Mobile has migrated from the limited application Java-based platform to the now widely-used web browser capable platform. This means that M2U Mobile is available to all mobile devices that have access to the internet and this enhancement now makes it extremely versatile, easy and convenient for customers to continue their wholesome experience in the palm of their hands.”


Also present were senior representations of telco partners, Celcom, DiGi and Maxis together with campaign partner, HTC Malaysia.


With the enhanced M2U Mobile service, customers can access via their ‘mobile browser’ to access services ranging from account summary, balance inquiry, fund transfer to own or registered Third Party, bill payments for registered bills, credit card payment for registered Third Party account as well as forex and deposit rates.


M2U Mobile users are only required to register as a customer, where registration to is also free. They are encouraged to register their favourite third party account or bill payee to enable them to have peace of mind in undertaking such favourite transactions M2U Mobile.


Those who wish to use the mobile browser are required to log into and use the same username and password.


M2U Mobile is free and does not require additional software for use in mobile phones. Mobile users will only pay for their usual connection charges with their respective telcos. In conjunction with the launch, Maybank together with its telco partners are offering for the first time in Malaysia to mobile phone users, free data access for the use of M2U Mobile services only for the next three months.


Lim also said that has continued to retain its leadership as Malaysia’s no.1 website with nearly 4.6 million registered users today. “We command the largest market share of internet banking customers at 55.58% and lead with the largest transaction volume averaging over 53.6 million a month with value of over RM3.7 billion a month. M2U Mobile will complement those who are using desktop computers to access to now undertake their banking on the go, particularly those with smartphones.”


He added that a recent survey finding released in July 2010 by GfK Asia, a leading telco market research company noted that Malaysia recorded the highest jump in smartphone sales compared to the overall mobile phone pie. Compared to the same period last year, smartphone sales in Malaysia grew by an impressive 36.8% in the first quarter of 2010 to hit 55.2% of total mobile phone sales. “Given this scenario, we are confident of achieving our growth targets and we will continue to enhance M2UMobile to meet customers’ needs,” said Lim.


Lim also said that in this financial year, the Bank will add new services as online fixed deposit, prepaid payments and online shopping for the mobile browser access. “We are also working with our telco partners to provide enhanced services for M2U Mobile and Celcom will be offering Real Time Payment Notification, where payments via will be updated directly to Celcom Berhad. Our other telco partners, DiGi and Maxis will also introduce enhanced services for customers.


In a double celebration of the launch of the new M2U Mobile service which also coincides with the 10th anniversary of, the first internet banking portal in Malaysia, Maybank is holding a contest with partner HTC Malaysia offering M2U Mobile users a chance to win 100 top of the line HTC Desire smartphones. Customers need to undertake a bill payment or Interbank GIRO transfer via M2U Mobile and answer a simple question at the end of the successful transaction to participate. The 1000th entry for the day with the correct answer will be the daily winner. There will be 100 daily winners. This contest will run from 14 July to 21 October 2010.


Maybank was the first bank to launch a mobile financial service via SMS in 2002 as well as the nation’s first mobile banking service in 2006.