Maybank expects 25% rise in e-Ang Pow transactions

  • Expects the e-Ang Pow transaction value to increase to over RM2 million this year
  • Number of users of this service seen rising to over 12,000 customers from some 10,000 in 2016


Maybank expects 25% rise in e-Ang Pow transactions


MAYBANK is expecting an increase of at least 25% in the number of e-Ang Pow transactions this Chinese New Year compared to 15,000 transactions valued at over RM1.6 million in 2016.

Maybank Group head of Community Financial Services Lim Hong Tat (pic) said that the bank was confident that its e-Ang Pow service would gain traction this year, given the increasing acceptance among the public for this service.

“We have been very encouraged by the response to our festive services over the last two Hari Raya festivals where e-Duit Raya transactions rose six-fold from 2015, as well as the level of usage for last year’s inaugural Chinese New Year e-Ang Pow and Deepavali DeepaMONEY services,” he said.

“This service is not only secure, convenient and environmentally friendly, it is especially useful for those who still want to send Ang Pows to loved ones far away.”

Lim added that Maybank expects the e-Ang Pow transaction value to similarly increase to over RM2 million this year, with the number of users of this service rising to over 12,000 customers from some 10,000 in 2016.

“The fact that many customers are sending multiple e-Ang Pows reflect their confidence and growing acceptance for such electronic means in festive giving,” he explained.

“The increasing use of online and mobile banking is driving greater usage of our digital services today, and is expected to further strengthen our presence in this segment.”

With the increasing trend of online banking, Maybank recorded RM237 billion in transaction value for the year 2016, a 36% increase from 2015 with a 41% increase in total transactions.

In the third quarter of 2016, Maybank has a 63% market share in mobile banking and a 52% share in online banking for transaction volume.

Lim also said that this year, Maybank will be offering surprise rewards on selected days to customers who use the e-Ang Pow service to send money to their loved ones, as well as a number of other festive banking conveniences.

For those who wish to send cash gifts to loved ones overseas, Maybank is offering the M2U Visa Direct in which the cash can be sent via Maybank2u for almost immediate credit into a recipient’s overseas Visa credit, debit or prepaid card, at a minimal cost of RM10.

Lim further added, “We have not forgotten those who prefer the traditional way of presenting Ang Pows and have made it easier to obtain new RM10 and RM50 notes in 78 selected ATMs across our network in Malaysia.”

Apart from these services, invest for the new year by purchasing theKijang Emas gold coins at selected Maybank branches. The gold bullion coins offer long term investment potential and come in sizes of ¼, ½ and 1 Troy ounces.

Maybank Cardmembers can also enjoy up to 50% off dining offers at participating hotels and restaurants, as well as redemptions at participating malls such as 1 Utama Shopping Mall, Avenue K, AEON BiG and more this Chinese New Year. 

Related Stories:
Maybank launches first mobile money transfer service in Malaysia with Western Union
Samsung Pay offers early access to Maybank customers
Maybank’s fintech initiative returns
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