PETALING JAYA: Maybank in partnership with Grab and Mastercard, today unveiled the Maybank Grab Mastercard Platinum – a card designed to provide Malaysians with more ways to be rewarded for their mobile-first lifestyle and for using Grab services.
According to the Mastercard Impact Studies™ May 2020 edition, Malaysians are increasing their online activities – 75% are surfing online for news and entertainment, 50% for food deliveries, and almost half of those surveyed are shopping online.
Against the backdrop of a growing digital economy, and increasingly savvy, mobile-first consumers, the three organisations have joined hands to collaborate on a credit card which complements Malaysians’ changing lifestyle and reward them for their everyday routine.
Maybank group CEO of community financial services Datuk John Chong said in the past three years, Maybank has observed a strong e-commerce adoption among its cardholders. In the first six months of 2020 alone, more than 600,000 became first-time e-commerce users.
“The launch of the Maybank Grab Mastercard Platinum is yet another first for Maybank, as we continue to make good of our commitment to our customers to bring them new experience, constructive solutions, and relevant benefits that complement their lifestyle. Besides the strong propositions of the card, we have also introduced a fully digitalised application process on Maybank2u, with same-day online approval and instant issuance of a digital card upon approval to give our customers a differentiated experience.”
The digital card, built into the Maybank2u platform, can be used instantly to link to GrabPay for cardholders to start enjoying the rewards immediately. The fully digitalised process is currently only available to Maybank2u customers.
For non-Maybank2u customers, application can be done via Maybank2u and the physical credit cards will be issued within 10 business days upon approval. The Maybank Grab Mastercard Platinum is also the first dual-faced credit card in Malaysia.
Mastercard co-president, Asia Pacific, Ari Sarker said Covid-19 has heightened the demand for cashless payments all around the world.
GrabPay managing director Ooi Huey Tyng said undoubtedly, the pandemic has changed the day-to-day activities and consumer spending behavior. With Grab services considered as essential needs, it has seen a significant increase in usage across its services, especially for food, mart and on-demand delivery, and online transactions.
“This is the first of its kind by Grab in Malaysia, and as a homegrown tech enabler and proponent of the digital economy, we firmly believe that like-minded partnerships such as ours with Maybank and Mastercard will elevate the importance and drive the adoption for cashless payment in Malaysia,” said Ooi.
Malaysians with a minimum annual income of RM36,000 are eligible to apply for the Maybank Grab Mastercard Platinum, which comes with lifetime annual fee waiver. The application can be done via the Maybank2u website.
The Maybank Grab Mastercard Platinum is the first dual-faced credit card in Malaysia.
