TM Net: Tie-up with Maybank to boost prepaid sales


BY ELAINE ANG

TM NET Sdn Bhd expects sales of its prepaid start-ups and reloads to increase by 20,000 to 30,000 units a month as a result of its partnership with Malayan Banking Bhd (Maybank) to provide tmnet prepaid reload service online through the bank's Internet portal, Maybank2u.com, and its automated teller machines, said chief executive officer Datuk Baharum Salleh. 

“Currently 50,000 units of prepaid start-ups and reloads are sold every month but we expect the number to increase with the partnership,” he said at the agreement signing between Maybank, TM Net and KAT Technologies Sdn Bhd, the reseller of tmnet prepaid to Maybank, in Kuala Lumpur yesterday. 

Baharum said that since the inception of tmnet prepaid last year, over 500,000 tmnet prepaid cards, softpin and CDs had been sold. 

“We strongly believe that the Internet prepaid market in Malaysia remains untapped and promises much business potential,” he said, adding that the prepaid market was growing at a rate of four times the postpaid market. 

He said the company hoped to further collaborate with Maybank on its other products and services like tmnet hotspot, tmnet streamyx and the soon-to-be launched One Card via Maybank2u.com

“We also hope to tap into other delivery channels of the Maybank group to further promote our products and services and take advantage of the bank's total customer base of 6.5 million,” he said, adding that TM Net had over 1.6 million subscribers nationwide. 

Maybank executive vice-president and head of retail financial services group Johar Che Mat said about 80% of Maybank2u.com's one million registered users were TM Net customers. “We are targeting 40,000 new users every month from now onwards,” he said, adding that the bank would be able to leverage on its customer base of 6.5 million. 

Currently, more than two million transactions are conducted online including balance inquiries, fund transfers, cheques services, online stock trading, and Interbank Giro. 

“Bill payment is one of the more popular services in Maybank2u.com. We have signed up more than 320 payee corporations to date, with over 370,000 bills paid online monthly,” Johar said. 

On the proposed merger of TM Net and Jaring, Baharum said the company was still waiting for further directives from its shareholders. 

Stock watch on Telekom 

Stock watch on Maybank 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Serba Dinamik former chairman Mohamed Nor resigns�
Berjaya Corp denies involvement with Berjaya Investment, warns of scam
WTI-Brent spread narrows as oil market tightens
Ace market bound Nestcon IPO oversubscribed by 57 times
Rubberex proposes RM78.6mil share placement for capacity expansion�
George Kent posts 14-month net profit of RM48.7mil
FBM KLCI falls 16.81 points; 784 stocks in red
Serba Dinamik denies Abu Dhabi contract is a RPT
Record net profit for Comfort Gloves
Cryptocurrencies tumble amid China crackdown on bitcoin miners

Stories You'll Enjoy


Vouchers