CIMB aims to up e-debit share by 20 pc

Published: 2009/09/07

CIMB Bank Bhd aims to increase its electronic payment (e-Debit) transactions market share by 15 to 20 per cent from 11 per cent currently over a four-month Use and Win campaign period.

Head of Retail Banking Peter England said the campaign launched today would go on till Dec 31 aimed at promoting e-Debit for purchases.

" Currently CIMB has around 30,000 e-Debit transactions per month and we hope to double this via the campaign," he said after the launch.

To date, CIMB has 5.5 million customers in Malaysia of whom 1.2 million are active ATM card users.



England said e-Debit transactions in Malaysia are relatively low compared to Singapore which has about 200 million transactions a year.

" It is not going to result to a million cost-saving to the bank. The whole concept is about getting the momentum going in order to spur e-Debit transactions in the local banking industry," he added.

CIMB has invested about RM1 million for the Use And Win campaign.

The campaign is a joint effort between CIMB Bank, Malaysian Electronics Payment System (MEPS) and Carrefour.

The second campaign aims to encourage CIMB Bank customers to utilise e-Debit payments using their ATM cards to purchase goods and services at over 40,000 merchant outlets nationwide.

" To participate, customers use their ATM cards to purchase goods, services or bills of RM100 and above in a single receipt.

" A cash rebate of RM1 will be rewarded for every transaction of RM100 and above that will be credited into the customers'' savings or current account," he said.

Customers with the highest e-Debit purchases stand to win a Perodua Viva Elite in addition to weekly and monthly cash prizes.

The first campaign held in 2008 had increased the bank's e-Debit transactions from 10,000 to 30,000 a month. - Bernama