“Our debit card usage has been expanding over the years, growing at an annual average of 22 per cent.”

Maybank expects 57pc increase in usage value to over RM17b

B. RAVINTHARAN, Maybank head of cards and group community financial services

MALAYAN Banking Bhd (Maybank) expects the number of debit card transactions this year to increase to 100 million worth more than RM17 billion, 57 per cent higher than the previous year.

Maybank cards and group community financial services head B. Ravintharan said the group saw a significant increase in the number of debit card transactions last year, at more than 65 million transactions worth over RM11 billion.

He said the Maybank debit card had evolved into eight product variants, with over nine million active cardholders.

“Our debit card usage has been expanding over the years, growing at an annual average of 22 per cent,” he said following the appointment of celebrities Fattah Amin and Nur Fazura Sharifuddin as Maybank Debit Card Brand official ambassadors here yesterday.

Ravintharan said 62 per cent of Maybank debit billings now came from young professionals aged between 21 and 40 years.

Maybank has also launched a three-month debit card campaign, giving new and existing cardholders a chance to win a holiday package with the Debit Brand Ambassadors.

The campaign begins today and ends on May 15, with minimum spending of RM250 in a single receipt for five lucky couples.

Maybank is the current debit card market leader with a 37.4 per cent market share in debit card billings.

It also leads in merchant transaction volume for both debit and credit, with a 38.7 per cent market share.

PIC BY ASWADI ALIAS Maybank community financial service head Datuk Hamirullah Boorhan (centre), cards and group community financial service head B. Ravintharan (second from left) and other officials at the appointment of Fattah Amin (third from left) and Nur Fazura...