MBF Cards (M) Sdn Bhd is confident of signing up at least 50,000 cardholders for its Xuan MasterCard, launched last December.
We have already attracted almost 15,000 applicants for this card in less than six months, and the response is getting more encouraging.
I don't think we will have any problem achieving the 50,000 target, said MBf Cards assistant vice-president (marketing) Audrey Tan in Kuching yesterday.
The company is on a three-day road show in Kuching to promote the Xuan MasterCard, the first ever credit card aimed at the Chinese-literate market
A series of activities, including a fashion show, stage games, an entertainment performance and an information talk are lined up for the road show that ends tomorrow.
Tan said the company had already created brand name awareness for Xuan MasterCard, and was now going all-out to promote the card.
She said business had picked up following the slowdown experienced during the recent SARS scare.
Xuan MasterCard differs from other credit cards in the market as it communicates with Chinese customers in Chinese.
MBf Cards is the only credit card company in Malaysia that delivers its services, events and benefits in Chinese, and it targets the Chinese-literate market, she told reporters.
Tan said that as a niche product, there was great growth potential for Xuan MasterCard as there was an estimated 3.5 million Chinese, aged 15 years and above, in Malaysia.
In addition, she said, there were non-Chinese who had sent their children to Chinese schools and the company could promote the Xuan MasterCard among them.
According to Tan, the company saw great business opportunities for Xuan MasterCard in the Sabah and Sarawak markets.
Xuan MasterCard is available in gold and classic, with entry income level of RM18,000 and RM36,000 per annum respectively. The first year annual fee is waived.
Cardholders enjoy a stream of core benefits, like special year-long discounts at exclusive Xuan participating merchant outlets nationwide and savings of up to 50% at 80,000 similar outlets worldwide through MBf Countdown International Privilege Card Programme.
In Sarawak, there are some 60 such merchant outlets.
Tan said MBf Cards, a single care issuer, now has over 300,000 MasterCard holders group-wise.
She said the company would launch its Visa Card next week.