Maybank expects 35% rise in e-Duit Raya transaction value

Maybank head of community financial services Malaysia, Datuk Hamirullah Boorhan (left ) and Maybank head virtual banking and payments Kalyani A/P Balakrishnan Nair welcomes back the Maybank e-Duit Raya service.

KUALA LUMPUR: Malayan Banking Bhd (Maybank) is expecting a 35% increase in the total number of ‘e-Duit Raya’ transaction value via Maybank2u this year compared to 2016.

Last year, the bank saw close to RM2mil worth of transaction value for its e-Duit Raya during the Hari Raya celebration.

“This Hari Raya, we are expecting the figure to go up by 35% to at least RM2.6mil given the increasing popularity of digital transactions,” Maybank head of community financial services Malaysia Datuk Hamirullah Boorhan said in a statement. 

“We are also expecting the number of transactions to rise to some 22,000 from 20,000 last year,” he added. 

“As Malaysians become increasingly tech-savvy, they are embracing the convenience that digital banking offers, including for their festive giving,” Hamirullah said. 

“With our e-Duit Raya service also available within the new Maybank app, they will find it more seamless given the app’s significantly faster performance.”

Maybank said its e-Duit Raya service enables customers to send festive cash gifts to recipients with just their mobile numbers, which must be a registered Malaysian number. Each transaction can be for a minimum of RM1 and a maximum of RM1,000, with a total cap of RM5,000 per day. 

Customers can redeem their e-Duit Raya anytime during the period June 19 – July 21.

Hamirullah said that following the success of the e-Duit Raya service in the last two years, Maybank’s e-Ang Pow service during the recent Chinese New Year celebration also saw a similar rise in transaction value.

“In 2016, we saw customers sending some RM1.63mil in e-Ang Pows via Maybank2u. This year, it rose by 28% to over RM2mil during the Chinese New Year festival,” he said.