Card
Malaysia’s no.1 e-commerce platform Shopee, has entered into a partnership with the country’s leading financial services provider, Maybank and the world’s leader in digital payments, Visa to introduce the only lifestyle and e-commerce Platinum card any Malaysians will need, the Maybank Shopee Credit Card.
The launch of the Maybank Shopee Credit Card comes at a time when more Malaysians are turning to e-commerce to get their essentials, with consumers spending an average of 20% more time on Shopee a week. As such, the trio teamed up to deliver a co-branded credit card that answers the needs of today’s consumers whilst putting more back into the pockets of Malaysians.
Users of this brand new card will be rewarded with Shopee Coins[1] for all their spend be it online or offline and anytime or anywhere. Cardholders will also earn more rewards when they spend during Shopee’s selected campaigns and on the 28th of every month where they will receive 5x Shopee Coins for purchases on Shopee; 4x Shopee Coins for their dining, entertainment and contactless payments and 1x Shopee Coins for all other transactions when they use this card.
The accumulated Shopee Coins enable users to offset future purchases on the platform, and redeem vouchers including F&B and services from the Daily Coins Rewards feature on the App. Moreover, earnings beyond 5,000 Shopee Coins each month will be rewarded in the form of Maybank TreatsPoints which cardholders can use to redeem gifts from Maybank.
Dato’ John Chong, Group Chief Executive Officer, Community Financial Services of Maybank said, “As a leader in the credit card business in Malaysia, we constantly seek out opportunities to expand our diverse offerings and privileges to meet customers’ evolving lifestyle. Between 2017 and 2019, we saw a 43% jump in our card billings for e-commerce platforms which indicates a significant shift towards online shopping. This partnership with Shopee will allow us to create value for our customers, tap into Malaysians’ e-commerce spending growth and thus give us a competitive advantage to further strengthen our leadership in the cards business. With the unique value proposition of the Maybank Shopee Credit Card and growing adoption of e-commerce, we anticipate this card will be a popular choice amongst Malaysian shoppers and are expecting a strong uptake.”
Ng Kong Boon, Country Manager of Visa Malaysia said, “Over the past few years many Malaysians have started to shop online and this trend has only accelerated, as people have been confined to their homes, to become the new normal. In fact, based on our data, e-commerce is growing five times faster as compared to face-to-face shopping. We also see that one in eight active Visa cardholders who did not use e-commerce last year made their first purchase online this year and top categories include essential goods and services, and retail purchases[2].
The launch of the Maybank Shopee Credit Card is extremely timely and we are proud to be partnering Malaysia’s largest banking and e-commerce player to drive digital payments usage in the country. Our role is to work with our partners to ensure that Malaysians have a seamless and secure online shopping experience so that they can shop and pay with confidence.”
“Shopee as a business has always been about impacting the local community in significant ways through our campaigns and collaborations with various stakeholders. This collaboration with Maybank and Visa is one that intends to help Malaysians with rising cost of living amid the socio-economic pressures brought about by Covid-19 as it offers users cash rebates in the form of Shopee Coins and more for all Shopee and offline spend. The card was designed to answer the needs of consumers today where shopping preferences have shifted as more are now relying on e-commerce even to get their staples, daily essentials and household necessities compared to years ago when users would only purchase things online if they are unable to get it offline. The launch of this card is indeed a milestone for us as it aligns with our commitment to use our technology to improve the livelihood of Malaysians with greater access, convenience and value,” shared Ian Ho, Regional Managing Director of Shopee.
Malaysians, between the ages of 21 and 65, can apply for the card starting 1 July, and there will be a lifetime annual waiver for the card. Those with an annual income of RM36,000 are eligible to sign up and successful applicants will be treated to a welcome offer of 5,000 Shopee Coins when they spend RM300 within 60 days. As the Maybank Shopee Credit Card launch is part of the 7.7 Mid Year Sale happening now till 7 July, early birds who sign up for the card by 7 July will receive Shopee Vouchers worth RM500 when they spend RM300 within 45 days; first come, first served basis.
On top of that, the 7.7 Mid Year Sale gives all Shopee users a 50% Coins Cashback on a daily basis. Users also stand a chance to win up to seven million Shopee Coins by playing Shopee Claw, Shopee Candy, Shopee Garden, Shopee Poly, Shopee Dance and more. In addition, the campaign brings deals from as low as RM0.77 during upsized Shocking Sale on 7 July, and a lowered minimum spend of RM10 to enjoy free shipping from 12AM – 2AM.
In conjunction with the launch of Maybank Shopee Credit Card, Shopee and Maybank will be presenting the Shopee 7.7 Maybank Concert that will deliver entertainment to viewers at home. The concert will be happening from 9pm to midnight on 6 July, via Shopee Live, Astro Prima and YouTube. There will be performances by a string of celebrities including Adira Suhaimi, Awal Ashaari, Hael Husaini, Jaclyn Victor, Nabila Razali, Naim Daniel, Sherry Alhadad, Yonnyboii and Zizi Kirana. They will also be challenged to several Shopee Games while there will be voucher giveaways which will be periodically released to viewers on all three platforms.
To find out how you can apply for the Maybank Shopee Credit Card, head over to https://shopee.com.my/m/maybank-shopee-credit-card.
For more info on Shopee 7.7 Mid Year Sale, head over to https://shopee.com.my/77.
[1] Shopee’s official virtual currency – Shopee Coins cannot be exchanged for cash or transferred to another account. 100 Shopee Coins entitle users to a RM1 discount off any order from Shopee Mall or Shopee Preferred Sellers.
[2] VisaNet data as of March 2020.
