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Maybank sees 30% rise in e-Ang Pow transactions for 2018

13 February 2018

4 min read

Maybank is anticipating a 30% rise in the number of e-Ang Pow transactions this Chinese New Year given the continued adoption of digital banking convenience among customers.

Maybank Group Head of Community Financial Services, Datuk Lim Hong Tat said that this followed the encouraging response received over the past two years that the service has been offered for Chinese New Year.

“In 2016 when we first launched our e-Ang Pow service, we recorded almost 16,000 transactions valued at over RM1.6 million,” he said. “In 2017, we saw a 15% rise in number of transactions to over 18,000, with value surging by almost 30% to RM2.1 million.”

“Given this trend, and the growing acceptance of digital banking, we believe that more customers will use this service this year where we hope to see over 23,500 transactions with a total value of RM2.7 million sent during the festive season.”

He said that apart from the Chinese New Year festival, Maybank also offers e-cash gift services for Hari Raya and Deepavali – making it the only bank in the Malaysia to offer such services for all three major festive seasons.

“The response has also been encouraging for the other two festivals, with Hari Raya seeing close to 13,000 e-Duit Raya transactions valued at RM1.3 million, and DeepaMONEY at about RM300,000 in 2017.”

For the e-Ang Pow service, the maximum transfer limit is RM1,000 per transaction with a maximum daily limit of RM5,000 on the app and RM30,000 on the web. Customers can perform up to 10 transactions at one-go.

“The increasing use of online and mobile banking is driving greater usage of our digital services today, and is expected to further strengthen our presence in this segment,” Datuk Lim added. “Our e-cash gift services are not only secure, convenient and environmentally friendly, but also allow customers to send it to anyone with a mobile number.”

In conjunction with the 2018 e-Ang Pow service, Maybank has launched a “Shake & Win” contest on the new Maybank app as well as on the desktop where customers stand a chance to win attractive prize worth RM3 million. These include Grand Prizes such as Microsoft Surface 4 Pro, Samsung Note 8, Huawei Mate 10 Pro, Xiaomi Mijia 360 camera, Nintendo Switch and Fitbit health watches.