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Maybank sees 35% rise in e-Duit Raya transaction value

21 June 2017

4 min read

Maybank is expecting a 35% increase in the total number of ‘e-Duit Raya’ transaction value via Maybank2u this year compared to 2016.

Maybank’s Head of Community Financial Services Malaysia Datuk Hamirullah Boorhan said that the e-Duit Raya service, which was pioneered in 2015, saw close to RM2 million worth of transaction value during the Hari Raya celebration in 2016.

“This Hari Raya, we are expecting the figure to go up by 35% to at least RM2.6 million given the increasing popularity of digital transactions,” he said. “We are also expecting the number of transactions to rise to some 22,000 from 20,000 last year.”

“As Malaysians become increasingly tech-savvy, they are embracing the convenience that digital banking offers, including for their festive giving,” added Datuk Hamirullah. “With our e-Duit Raya service also available within the new Maybank app, they will find it more seamless given the app’s significantly faster performance.”

The e-Duit Raya service enables customers to send festive cash gifts to recipients with just their mobile numbers, which must be a registered Malaysian number. Each transaction can be for a minimum of RM1.00 and a maximum of RM1,000, with a total cap of RM5,000 per day. Customers can redeem their e-Duit Raya anytime during the period 19 June – 21 July.

Datuk Hamirullah said that following the success of the e-Duit Raya service in the last two years, Maybank’s e-Ang Pow service during the recent Chinese New Year celebration also saw a similar rise in transaction value.

“In 2016, we saw customers sending some RM1.63 million in e-Ang Pows via Maybank2u. This year, it rose by 28% to over RM2 million during the Chinese New Year festival,” revealed Datuk Hamirullah.

For those whose loved ones are overseas this year, Datuk Hamirullah said that they can use the M2U Visa Direct service during the Hari Raya period where funds can be remitted instantly to a recipient’s overseas issued Visa credit, debit or pre-paid card via Maybank2u.

For this Hari Raya, Maybank is also continuing its Salam & Menang contest which was introduced last year. This year, users stand to win attractive prizes such as RM200 cash given out daily to 5 lucky winners, Fusion Power Folding Bike, Runtastic Orbit, Samsung Galaxy Tab A, Samsung Gear VR, Lazada e-shopping vouchers and NIDA’s Rooms e-Voucher.

Combining tradition with technology, Maybank wants to further engage with Malaysians far and wide with something special, ‘Salam dengan Maybank’. Together as one nation, Malaysians all around can join hands to reach a number of ‘salams’ fixed by Maybank which will then unlock a special QR code that will be published on Maybank’s social media platforms. Customers can scan the QR code and stand a chance to win the special prizes of Samsung Galaxy 8 devices.

Maybank2u is currently the market leader in online banking in Malaysia with market share of 56.6% as of Q1 in 2017. It recorded transactions totalling RM 237.4 billion last year, with the volume of transactions growing by about 41% in 2016 to 2.9 billion.