Shopee, Maybank and Visa to introduce e-commerce credit card

KUALA LUMPUR: Shopee has formed a partnership with Malayan Banking Bhd and Visa to introduce a lifestyle and e-commerce Platinum card, the Maybank Shopee Credit Card.

Shopee said the launch came at a time when more Malaysians were turning to e-commerce to get their essentials, with consumers spending an average of 20 per cent more time on Shopee a week.

Users of the new card will be rewarded with Shopee Coins 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.

The accumulated Shopee Coins enable users to offset future purchases on the platform, and redeem vouchers including food and beverage (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.

Shopee regional managing director Ian Ho said the collaboration was intended to help Malaysians with rising cost of living amid the socio-economic pressures brought about by Covid-19.

Maybank community financial services group chief executive officer Datuk John Chong said the bank constantly seeks out opportunities to expand its diverse offerings and privileges to meet customers’ evolving lifestyle.

He said between 2017 and 2019, Maybank had seen a 43 per cent jump in its 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.

Source: NST