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Maybank Grab Mastercard Platinum card launched for Malaysians

By Edil Corneille

August 21, 2020

  • Malaysia
  • Maybank
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Mastercard, payments, fintech, credit, card, technologyMaybank, the banking group in Malaysia, in partnership with Grab, ASEAN’s everyday super app, and Mastercard, a global technology company in the payments industry, unveiled the Maybank Grab Mastercard Platinum card. It has been designed to provide Malaysians with even more ways to be rewarded for their mobile-first lifestyle and for using Grab services.

Dato’ John Chong, Group Chief Executive Officer, Community Financial Services of Maybank said, “In the past 3 years, we have observed a strong e-commerce adoption among our cardholders; in the first 6 months of 2020 alone, more than 600,000 became first-time e-commerce users…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.

Ari Sarker, Co-President, Asia Pacific, Mastercard said, “COVID-19 has heightened the demand for cashless payments all around the world. The Mastercard Impact Studies™ 2020 have shown that more than ever Malaysians are now opting to use digital payments such as e-wallets, contactless cards and online payments to make everyday purchases…”

Packed with benefits, cardholders will be able to earn more GrabRewards points (GRP) faster and easier, which can be used to redeem any Grab or partner vouchers, offset bills, and make payments. Cardholders can earn 5X GRP for every RM1 spent on Grab services such as rides, food deliveries, Grab e-wallet top-up, and even online and in-store purchases at GrabPay partner merchants.

“…As the economy reopens with an emphasis on cashless payments as a convenient and hygienic alternative form of payment and coupled with the attractive benefits that comes with the Maybank Grab Mastercard Platinum credit card, we are optimistic of the uptake for it. 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 Huey Tyng, Managing Director, GrabPay.

Malaysians with a minimum annual income of RM36,000 are eligible to apply for the Maybank Grab Mastercard Platinum, which comes with a lifetime annual fee waiver.

ALSO, READ: Mastercard announces security capabilities enhancement in Saudi Arabia

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