Corp News

‘Maybankard 2 Cards’ to spur 20% growth in cardmember base

18 January 2011

4 min read

Maybank targets half a million new Cardmembers from its latest, ‘Maybankard 2 Cards’ within 12 months. The Maybankard 2 Cards offers an innovative feature, a first in Malaysia, of providing two credits cards together to a Cardmember with only one signup.

L-R:Kula Kulendran, Lim Hong Tat, Ashraf Ali Kadir and Jim Cheah

Customers are issued an American Express and a MasterCard credit card together and have a choice of Gold and Platinum. Maybankard 2 Cards are also bundled with attractive benefits. It is the only credit card that gives Cardmembers points, cash back and a preferred finance charge all in 1 signup. Cardmembers enjoy 5x TreatsPoints, 5% weekend Cash Back, 8.88% Finance Charge per annum, lifetime fee waiver and they pay only 1 Service Tax.

“The unique Maybankard 2 Cards proposition is aligned to our promise of humanising financial services by offering customers fair pricing, convenience and high value to customers. The Maybankard 2 Cards proposition and host of benefits will accelerate our Cardmember base growth by over 20% within a year,” said Lim Hong Tat, Deputy President and Head of Community Financial ccccccServices, Maybank at an official joint launch at Menara Maybank.

Also present were Mr Kula Kulendran, Executive Vice President and Head of Global Network Services, Japan, Asia Pacific, Australia, American Express and Mr Jim Cheah, Vice President and Senior Country Manager, Malaysia and Brunei, MasterCard Worldwide.

Lim also said that the two cards’ features will meet the needs of customers who are looking to rationalise their number of cards. “Those who are looking to rationalise the cards by giving up their individual cards and select Maybankard 2 Cards, will gain from the benefits that come with the Card. New Cardmembers will enjoy the lowest finance charge of 8.88% per annum on outstanding balance and only a RM50 service tax charge for the two cards.”

“Maybankard 2 Cards offer a combined access to more than 170,000 card merchants in Malaysia alone and millions of merchants worldwide. Platinum Cardmembers have added privileges of travel insurance coverage, retail protection and platinum assist services including year round golfing privileges in some of the most prestigious courses in Malaysia and the region. Together with the evergreen privileges and benefits, they enjoy tremendous savings with their everyday spend,” said Lim.

“We have recorded an 18% growth year-on-year driven by campaigns organised by us and our merchants. With this new card and more exciting campaigns in the coming months, we are confident card spend will grow by 20% in this financial year ending June 2011,” added Lim.

Maybankard 2 Cards Cardmembers will also have access to Maybank’s largest network and delivery channels, namely the country’s most popular internet banking portal for online monitoring, viewing their e-statement and online payment as well as over 350 branches and over 2,700 ATMs nationwide for payment convenience.