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Maybank expects number of e-Duit Raya transactions to rise six-fold

21 June 2016

4 min read

Maybank is expecting at least a six-fold increase in the number of ‘e-Duit Raya’ transactions via its online channels this year compared to the festive period in 2015.

Maybank’s Head of Community Financial Services Malaysia Datuk Hamirullah Boorhan said that the e-Duit Raya service, which was pioneered last year, saw some 3,000 transactions totalling RM600,000 in the six-week period leading up to Hari Raya.

“This Hari Raya, we are expecting the figure to go up to at least 20,000 transactions valued at over RM2.5 million,” he said. “We find that customers are increasingly more comfortable with this mode of festive giving as it not only offers greater convenience but is also more environmentally friendly.”

The e-Duit Raya service is a unique service which allows customers to enjoy the convenience of receiving and sending ‘Duit Raya’ to loved ones digitally. Customers using this service can send Duit Raya for credit into a recipient’s account. This service is especially useful for customers who are not able to be with their loved ones during the festive period.

Datuk Hamirullah said that following the success of the e-Duit Raya service in 2015, Maybank also introduced the e-Ang Pow service during the Chinese New Year period in 2016.

“We saw a strong uplift of over 400% this Chinese New Year, compared with Hari Raya 2015, with some 16,000 e-Ang Pow transactions valued at over RM1.6 million during a period of six weeks,” revealed Datuk Hamirullah.

He added that for this Hari Raya, Maybank has enhanced its e-Duit Raya service with even greater convenience and added a spot of festive fun with more features.

“This time round, recipients will have a choice of crediting the ‘Duit Raya’ received into other banking accounts apart from Maybank. Maximum transfer limit per day is RM1,000 and customers can send gifts to a maximum of 10 recipients at a time.”

At the same time, Maybank has also launched a Salam & Menang contest which is open to not only Maybank customers but also the general public. This contest combines the traditional Malay culture act of ‘salam’ with a touch of digitalisation using the M2U mobile app.

Those wanting to participate would have to download the M2U App from Google Play Store or App Store and register their mobile number & name. They will then be given a unique QR code to be scanned with another mobile device, using the M2U App. With this gesture of greeting each other, users stand to win attractive prizes such as RM500 cash given out daily to 5 lucky winners, travel voucher worth RM2,000 given out once a week and 30,000 shopping vouchers. At the end of the campaign, 10 lucky customers who have sent an e-Duit Raya will stand a chance to win the grand prize of RM1,000 each.

“We believe that inclusivity and closeness bring people together during the festive seasons. In this campaign, customers as well as the general public can take part in this unique contest that strives to combine the ‘personal touch’ together with digital convenience,” Hamirullah said. “This is in line with the Group’s mission to humanize financial services.”

For those with loved ones overseas, Hamirullah said that the Bank has a special service during this Hari Raya period where they can use M2U Visa Direct to send instant Duit Raya to the recipient’s overseas Visa card.

“We also have the Kijang Mas, where customers get to purchase the gold coin with a limited edition packaging containing a special Hari Raya motif. In addition, we have festive promotions offering between 10-50% discounts at merchants such as AEON Big, Ariani, Home Pro, Index Living Mall, Jakel, Luxury Vintage and Twenty2 as well as dining deals from participating hotels such as DoubleTree by Hilton, Eastin Hotel Penang, Grand Millennium Kuala Hotel, Le Meridien Kuala Lumpur, Sheraton Imperial Kuala Lumpur, Sunway Resort Hotel & Spa and The Westin Kuala Lumpur.”

M2U currently records transaction to the value of RM220 billion a year with the volume of transactions growing by about 30%.