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Maybank launches Malaysia’s first mobile wallet payment convenience

21 July 2016

4 min read

- targets to register 20,000 users in 1st year

Maybank today officially launched Malaysia’s first mobile wallet payment convenience called MaybankPay - targeting to register at least 20,000 users within the first year.

MaybankPay will enable customers to make cashless payments via smartphones and other handheld devices, which will then be charged to their Visa cards, without having to use the physical debit or credit card. It was launched by Maybank Group President & CEO, Datuk Abdul Farid Alias in conjunction with the Maybank Treats Fair 2016 in Kuala Lumpur.

Speaking at the launch, Datuk Hamirullah Boorhan, Head of Community Financial Services (CFS), Malaysia, said that MaybankPay is set to revolutionise electronic payments in Malaysia as it offers a new gateway wherein cardholders can “carry their card inside their mobile devices”. Payment is effected simply by scanning their mobile phone at merchant card terminals which carry the Visa PayWave capability nationwide.

“The launch of MaybankPay is part of Maybank’s strategy to strengthen its digital offering in line with the Group’s objective of become a digital bank of choice,” added Datuk Hamirullah. “As a leader in electronic and digital banking, we will continue to leverage on technology to ensure that our customers benefit from the increasing convergence between mobile telecommunications and banking.”

Datuk Hamirullah said that MaybankPay is designed to be fast, easy and safe to use. It will initially be available for Android devices and cardholders can register up to 8 cards on a device. For the pilot period, Maybank customers will be able to enjoy the convenience of MaybankPay exclusively during the Maybank’s Treats Fair, before the full commercial roll-out in August 2016.

Datuk Hamirullah said that following the rollout in Malaysia, the Bank will explore the feasibility of implementing MaybankPay in other Maybank home markets namely Indonesia, Singapore and Philippines. “This will be our next focus given the rapid growth of mobile telecommunication users in these markets,” he added.

Maybank Treats Fair 2016 expects 20% increase in sales and redemption

On the Maybank Treats Fair being held from 21-24 July 2016, Datuk Hamirullah said that this year’s event is targeting to achieve over RM24 million in sales and TreatsPoints redemptions, a 20% increase from the RM20 million recorded in 2015. A total of 260,000 visitors are expected for the Fair, up from 250,000 last year.

The Treats Fair, Malaysia’s largest one-stop rewards redemption fair, offers a wide range of products and services catering to different lifestyle needs. These range from Home Living & Electrical, Fashion, Beauty, Kids & Travel, and Gadgets, Communications & Lifestyle. There are over 250 booths featuring merchants such as TGV, Harvey Norman, AEON Big, Best Denki, Gintel, Pandora, EpiCentre, Samsung, Mayflower, Malindo Air and Legoland.

“Our Treats Fair has helped generate significant economic activity in the country. When we first started Treats Fair 12 years ago, we had about 60 booths, and about 43,000 visitors with sales of some half a million ringgit,” said Datuk Hamirullah. “Now 12 years on, the number of booths has grown by over 4 times, and visitors by about 6 times. Sales have grown exponentially by some 40 times.”

He said the Treats Fair offers cardholders significant savings and numerous privileges such as free gifts, lucky draws, interest free EzyPay offers, limited edition merchandise as well instant card issuance. In addition, they can enjoy special discounts at participating merchants in Mid Valley Megamall and The Gardens during the event or even settle their DBKL assessments and PDRM traffic summonses by using their TreatsPoints. Exclusive offers are also available from Krispy Kreme, Baskin Robbins, Famous Amos and Starbucks for cardmembers at the Premier Lounge, in addition to McDonald’s ‘Be Our Guest’ coupons for the first 1,000 customers daily with minimum spend of RM200.

Visitors will also be entertained by local celebrities namely Najwa Latif,Ziana Zain, Syamel, Nourul Wahab, Sufi, Fahrin Ahmad, Erra Fazira and many other artists throughout the four day event.

For merchants, the fair promises high traffic and outstanding sales volume with the convenience of cashless payments.

Maybank Treats Fair is open to all Maybank credit, charge and debit cardmembers holding cards issued by Maybank, Maybank Islamic, Maybank Singapore, Maybank Indonesia, Maybank Philippines, Maybank Cambodia and Maybank Vietnam.