PETALING JAYA – Malayan Banking Bhd (Maybank) has launched a new credit card in cooperation with food, transport, and payments solution provider Grab and global payment solution provider Mastercard.
With every spend, it will reward users GrabRewards points. According to Maybank, the launching of the new credit card is in perfect timing when more and more Malaysians are doing online transactions due to growing smartphone adoption in the country.
Maybank CEO for community financial services Datuk John Chong said that they have observed strong demand in eCommerce adoption from its users in the past three years. In the first 6 months of 2020 alone, they were able to record more than 600,000 first-time e-commerce users.
The launch of the Maybank Grab Mastercard Platinum is a testament to the company’s commitment to the customer to bring them a new experience and benefits their lifestyle.
Chong added that one key feature of the card is that customers can avail of the card through their online registration that can also be approved on the same day.
Mastercard Impact Studies for May 2020 edition reported that Malaysians increased their online activities from surfing online for news and entertainment to 75% of its user while food deliveries and online shopping record 50% of its users.
GrabPay managing director Ooi Huey Tyng reported that they observed a 1.7 times increase in the usage of the Grab Wallet during the movement control order.
The newly launched card will give its cardholders 5X GRP for every RM1 spent on Grab services such as rides, food deliveries, grab e-wallet top-up, and in-store purchases at GrabPay partner merchants while 2X GRP for every RM1 spent overseas and for e-commerce purchases.
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