KUALA LUMPUR: Malayan Banking Bhd (Maybank) anticipates about RM12 million in sales from Maybank Treats Fair 2024 and is in the process of reviewing about 1,500 new credit card applications.
Maybank head of cards B Ravintharan said the previous Treats Fair generated more than RM10 million in sales and witnessed a staggering two billion Maybank points redeemed.
“Customers who come to the event are mostly existing customers, so some customers who feel that they can get benefits from participating will apply with us,“ he told the media at today’s launch of Maybank Treats Fair 2024.
Maybank Treats Fair 2024 is projected to record a 20% increase in sales and points redeemed with enhanced redemption benefits compared to the previous Treats Fair.
Ravintharan said customers can now redeem RM1 with just 400 TreatPoints, a significant reduction from the normal 500 points. “Customers can also enjoy five times Maybank points for every ringgit spent through Maybank’s 0% EzyPay instalment plan.”
He said Maybank is targeting 15% growth in customers’ total spending on credit cards. “In 2023, the growth was close to 15%. Maybank anticipates 15% growth for this year as it anticipates a rise from e-commerce businesses,“ he added.
Maybank Treats Fair 2024 marks two decades of rewarding the bank’s loyal customers.
As the longest-running bank loyalty redemption event in Malaysia and recognised by Malaysian Book of Records, the 2024 edition will be a celebration of customer appreciation.
The four-day event, which is being held until Sunday at Mid Valley Exhibition Centre, features about 300 booths offering exclusive deals, discounts and activities. It is expected to attract more than 200,000 visitors.
Maybank boasts an impressive 13-million-cardholder base, with transaction growth surging by 30% year-to-date, a testament to the bank’s commitment to intensify customer centricity.
Maybank Group CEO community financial services Syed Ahmad Taufik Albar said that this year, the bank will not only celebrate this significant milestone but also be physically present for customers, as the previous event was held virtually due to the Covid-19 pandemic.
“Maybank Treats Fair is more than just a shopping event; it is a platform for us to express gratitude and reward our loyal customers,“ he said in his speech earlier.
The bank is the first in Malaysia to offer redemption points for travel bookings and avid travellers, as Maybank and Agoda have formed a strategic partnership to offer exclusive travel benefits to Maybank customers, Syed Ahmad said.
“Through this partnership, customers can utilise TreatPoints for travel bookings. During the Maybank Treats Fair 2024, customers can redeem Agoda vouchers worth RM100 and RM200 from as low as 40,000 and 80,000 points, respectively, or redeemable for 42,5000 and 85,000 points thereafter.”
