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Shopee, Maybank and Visa Introduces eCommerce Credit Card

Shopee has formed a partnership with Malayan Bank Bhd and Visa to introduce 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% more time on Shopee a week.

Users of the new card will be rewarded with Shopee Coins for all their spending, be it online or offline.

Cardholders will also earn more rewards when they spend during Shopee’s selected campaigns and on the 28th of every month.

Malaysians, between the ages of 21 and 65, can apply for the card starting 1 July, and there will be a lifetime annual waiver for the card. Those with an annual income of RM36,000 are eligible to sign up and successful applicants will be treated to a welcome offer of 5,000 Shopee Coins when they spend RM300 within 60 days.

According to Maybank’s Group Chief Executive Officer Community Financial Services, John Chong, “Between 2017 and 2019, we saw a 43% jump in our card billings for e-commerce platforms which indicates a significant shift towards online shopping.”

“This partnership with Shopee will allifestyle and e-commerce Platinum card, the Maybank Shopee Credit Card.low 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,” he added.

Ian Ho, Regional Managing Director of Shopee highlighted that the collaboration with Maybank and Visa aims to help Malaysians with the rising cost of living amid the socio-economic pressures brought about by COVID-19 as it offers users cash rebates in the form of Shopee Coins.

“The launch of this card is indeed a milestone for us as it aligns with our commitment to using our technology to improve the livelihood of Malaysians with greater access, convenience, and value,” he added.

Visa Malaysia’s Country Manager, Ng Kong Boon said, “ based on our data, e-commerce is growing five times faster as compared to face-to-face shopping. We also see that one in eight active Visa cardholders who did not use e-commerce last year made their first purchase online this year and top categories include essential goods and services, and retail purchases.”