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Maybank targets 15,000 credit cards on rolling out latest cards with FC Barcelona

October 10, 2017 6:47 AM
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KUALA LUMPUR (Oct 10): Malayan Banking Bhd (Maybank) aims to issue about 15,000 credit cards in the first year after it has rolled out its latest international sport franchise co-branded credit card — the Maybank FC Barcelona Cards — to further cement the bank’s leadership in the cards business.

Maybank's head of cards group community financial services B Ravintharan said with the launch of this new card, Maybank will offer a complete range of FC Barcelona co-branded cards to suits its various retail customer segment through both the FC Barcelona Visa Signature Credit Card and Visa Debit Platinum Card in Malaysia.

“We anticipate that we will be issuing 15,000 new co-branded cards in the first year of launch and hope to expand the partnership to our other regional markets, where there is a demand and strong following of the FC Barcelona team, with Singapore being the first overseas market in January 2018.

“This new card is targeted to our devoted FC Barcelona supporters, who are also our emerging affluent customers,” he told reporters during the joint launch of its latest cards with FC Barcelona today.

The cards were jointly launched by Ravintharan and FC Barcelona legend Gaizka Mendieta Zabala, who is a former midfielder of the club.

He said the Maybank FC Barcelona Cards offers a free for life annual fee; 2% cash back on retail spent all year round for 10 months, capped at RM50 a month; 10% cash back on retail spent for the months of May and August, capped at RM100 a month; and an additional 0.10% per annum interest rate on savings account for Barcelona debit cardholders who sign up for the Maybank2U premier account online.

The benefits from the use of the new cards include trips to Camp Nou — the home stadium of FC Barcelona — to watch a Barcelona match, and attractive discounts for FC Barcelona match tickets and its merchandise.

Meanwhile, FC Barcelona commercial director Xavier Asensi said FC Barcelona will be able to continue to increase its popularity through this new partnership, while getting closer to their fans in Malaysia and Singapore.

“It is a pleasure that we welcome Maybank as a regional partner of the club in Malaysia and Singapore,” Asensi said.

In 2011, Maybank launched their first co-branded credit card with Manchester United in Malaysia.

At midday break today, Maybank shares remained unchanged at RM9.55, with 1.59 million shares traded for a market capitalisation of RM101.06 billion.

Also read: Malaysia, Indonesia, Thailand launch local currency settlement framework

Source: theedgemarkets.com

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