Spending on Maybank debit cards has grown by
more than 20% in the 12 months to November 2011, and the number of
debit cardholders has also increased by over 8% during the same
period.
The increase reflects “the growing acceptance
of this payment mode” in Malaysia, according to the lender.
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Maybank is expecting debit card spend to grow
by 60% for 2012, said B Ravintharan, executive vice president and
head of cards, wealth and payments at Maybank.
Ravintharan also said the overall growth in
debit card use, including overseas, reflect “increased awareness in
the security and convenience provided by debit cards”.
Maybank’s debit card spend grew by 24% from
April – September in 2011, compared to the same period in 2010.
He added that more awareness programmes and
promotional campaigns will be organised in future to accelerate the
projected growth.
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By GlobalDataGrowth will continue to be boosted by new promotions to
popularise debit cards use, as well as competitive rewards
campaigns and continued awareness programs to educate the customers
on debit.
Maybank is currently the market leader in
debit cards with a customer base of close to 8m, including
approximately 4m Maybank Visa debit cards holders.
