September 8, 2009

CIMB Bank rewards customers for using ATM cards to shop

By Chong Pooi KoonPublished: 2009/09/08

CIMB BANK (1023) has launched a four-month campaign that will reward customers for using the automated teller machine (ATM) cards to pay for shopping, in a bid to spur cashless transactions.

"Banks spend a lot of money to maintain the ATMs and it is an incredibly inefficient way of doing business when consumers take out cash from the machines to pay the merchants, and then the merchants will have to put the cash back into a bank," its head of retail banking Peter England said at the launch in Kuala Lumpur yesterday.

"We want to encourage Malaysians to re-think the way they pay for purchases and we want to keep them aware that they can use the existing ATM card for e-debit at any MEPS outlets. You just use the same ATM pin number."

MEPS, or the Malaysian Electronics Payment System Sdn Bhd, is the only interbank network service provider in the country, aiming to promote electronics payment.
There will be significant cost savings for the industry as a whole when more consumers shift to electronic payments from using cash, England said, and the efficient mode benefits everyone from consumers, merchants and the banks.

The Use and Win campaign will run till December 31. CIMB's customers using ATM cards to make payments at over 40,000 merchant outlets in Malaysia stand to get cash rebates and the chance to win a Perodua Viva Elite. A RM1 cash rebate will be credited into the customer's savings or current account for every RM100 spent in a single receipt.

CIMB handles 29,000 e-debit transactions a month and expects to double this within the campaign period. The bank holds about a tenth of the e-debit transactions market

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Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;

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