Maybank expects e-duit raya transactions to rise six-fold

Children look forward to receiving duit raya packets during Hari Raya Aidilfitri.

KUALA LUMPUR: Malayan Banking Bhd (Maybank) expects at least a six-fold increase in the number of e-Duit Raya transactions via its online channels during Aidilfitri this year compared with that of 2015. 

Maybank head of community financial services Malaysia Datuk Hamirullah Boorhan said 3,000 e-Duit Raya transactions totalling RM600,000 were recorded during the six-week period in the run-up to Hari Raya Puasa last year. 

“During this Hari Raya period, we expect the figure to go up to at least 20,000 transactions valued over RM2.5mil. 

“Customers using this service can credit ‘duit raya’ into a recipient’s account,” he said in a statement on Tuesday. 

The e-Duit Raya service, which was introduced last year, enables customers to receive and send money to their loved ones digitally. 

Hamirullah said during this Aidilfitri, customers could use the M2U Visa Direct to send instant ‘duit raya’ to the recipient’s overseas Visa card. 

“We also have the Kijang Mas, where customers can purchase limited edition gold coin packaging containing a special ‘hari raya’ motif,” he said. 

The M2U transactions currently record transactions to the value of RM220bil a year and the volume growing about 30%. 

He said following the success of the e-Duit Raya service, Maybank introduced the e-Ang Pow service during the Chinese New Year period in February this year. 

“We saw a strong uplift of over 400 per cent during the Chinese New Year 2016 compared with Hari Raya 2015, with some 16,000 e-Ang Pow transactions valued over RM1.6mil recorded during the six-week period,” he said. - Bernama