First of its kind in the country to calculate customers’ carbon footprint and offset carbon emission in line with sustainability aspirations
Maybank today introduced the myimpact credit card, in efforts to empower its customers towards making better sustainable life choices which will impact the next generation. The credit card, which is made from bio-sourced polylactic acid, features a ground-breaking initiative deemed first-of-its-kind in the country, provides mechanisms for card members to track their carbon footprints, offers rewards for sustainable lifestyle and eco-purchases as well as allows for carbon offsets through contributing towards various reforestation activities in the region.
Furthermore, the initiative is also aligned with Maybank's M25+ strategy to become ASEAN's leading ESG leader, promoting positive economic impact, financial inclusivity, and environmental preservation.
The Maybank myimpact Visa Signature and Maybank Islamic myimpact Mastercard Platinum credit cards were launched by Dato’ Khairussaleh Ramli, Group President and CEO of Maybank and Dato’ John Chong, Group CEO, Community Financial Services, together with Maybank Chairman, Tan Sri Dato' Sri Zamzamzairani Mohd Isa during the Grand Celebration of Maybank Group’s Sustainability Week.
From L-R: Datuk Hamirullah Boorhan, Head CFS Malaysia, Tan Sri Dato’ Sri Zamzamzairani Mohd Isa, Maybank Chairman, Dato’ Khairussaleh Ramli, Maybank Group President & CEO, Dato John Chong, Group CEO, CFS and B.Ravintharan, Head Cards, Funding & Deposits
Dato’ Khairussaleh Ramli said that the introduction of the Maybank myimpact credit card is a testament to the Group’s commitment towards living its purpose of being a values based platform, incorporating the features of sustainability and ethical principles into our solutions and offerings to customers. It is also part of the Bank’s overall plan to build awareness on sustainability among consumers while providing them with avenues to exercise their commitment for environmental, social and governance-related practices.
“Our aim is to create a heightened responsibility and awareness for ESG-friendly spending and we have created a path for our customers to understand their personal carbon impact through their lifestyle consumptions and provide solutions to track, monitor and minimise carbon footprints through carbon offset initiatives. Alone, Maybank can only create a small ripple; but together, we will be able to create waves of change in ensuring a safer, greener environment for our future.”
The Maybank myimpact credit card is the first in the market that allows card members to consciously make tangible, positive impact through responsible and ESG-friendly spending. It is also the first card in Malaysia that incorporates a built-in Carbon Footprint tracker and the ability to offset their carbon footprints. The myimpact Visa Signature Credit Card meanwhile is the first conventional credit card in the country that offers no-compounding interests, providing transparency and simplicity for our customers.
Maybank credit cards have remained the preferred choice for Malaysians, currently commanding over 2 million credit card base in the market. As the market leader in cards and with a strong passion to offer innovative and best-in-class products, Maybank continuously looks for new value-added offerings for customers and is confident that this new credit card will encourage them to make better sustainable choices when spending.
The Bank is determined in its unwavering commitment for excellence, by reinforcing its position as a trusted partner for its customers' lifestyle and financial needs - providing compelling and sustainable solutions in line with its mission to Humanise Financial Services.
Features of Maybank’s myimpact credit cards:
- A built-in Carbon Footprint Calculator exclusively for Maybank myimpact credit card members.
It provides a calculation estimation of the CO2e impact for purchases made on Maybank myimpact credit cards. The data insights of the purchases are available on the MAE app and Maybank2u web. The Carbon Footprint Calculator tracks the transactions made on Maybank myimpact credit cards to monitor the CO2e impact of said transactions.
- Carbon offsets toward regional reforestation initiatives
A carbon footprint measures the CO2 and other greenhouse gases emitted directly or indirectly through a specific activity. With insights from the Carbon Footprint Calculator, card members are able to contribute to various reforestation initiatives to offset their carbon footprints such as the Greening Malaysia Programme, Keo Seima Wildlife Sanctuary REDD+ Project in Cambodia, Katingan Conservation Project and Rimba Raya Reserve Project in Indonesia.
- Made from bio-sourced Polylactic acid (PLA) derived from non-edible corn, significantly reducing fossil-based PVC card materials.
- No compounding interest/management fees, no late payment charges and lifetime fee waiver.
- RM50 welcome bonus cashback on a minimum spend of RM1,500 within 90 days from card approval, including 3 ESG-friendly transactions.
- 1% Cashback for purchases from ESG-friendly merchants
These include renewable energy subscriptions, public transportation usage, education, wellness and sustainable products.
- 5% Cashback for other transactions using contactless payment, Apple and Samsung Pay.