The latest card addition is also expected to boost its credit billings’ market share up to 30%

By IZZAT RATNA / Pic By AFIF ABD HALIM

Malayan Banking Bhd (Maybank) is targeting RM130 million in expenditure for its latest FC Barcelona cards in tandem with a projected 15,000 credit cards and 200,000 debit cards issuance in Malaysia within the first one year.

Group community financial services head of cards B Ravintharan said the latest card addition is also expected to boost its credit billings’ market share up to 30% from the current 29% — comprising 80% domestic expenditure, while the remaining 20% would be on international and online transactions.

“We are planning to enhance engagement and activation in order to tap into the niche and emerging affluent FC Barcelona’s customer base, which are made up of about four mil- lion people, as an effort to further cement our leadership position in the card industry,” Ravintharan told reporters at the launch ceremony in Petaling Jaya yesterday.

He also pointed out that 500,000 new users are expected to come on board in Maybank’s domestic credit card segment over the next three years. This, he added, will impact the company’s market share within this segment.

With over two million credit cards in circulation, the country’s leading universal bank currently has over 11 million debit card users in Malaysia, and commanding a 20.5% share of the credit and charge card market.

Meanwhile, on the international front, the Maybank FC Barcelona card is also expected to expand its partnership to other regional markets — mainly Singapore, which is slated for launching in January 2018.

Ravintharan said the company is looking to establish the FC Barcelona card’s presence in Malaysia and Singapore first before exploring other expansion opportunities regionally.

Some 5,000 credit cards issuance is expected to enter the Singapore market within the first year of FC Barcelona card’s launch this coming January.

“We are also eyeing on other countries — namely the Philippines and Cambodia, to expand this line of credit cards if and when the opportunity should present itself. However, it is only expected to take place within the next trench of the year,” added Ravintharan.

FC Barcelona commercial director Xavier Asensi said through this partnership, the club will be able to get closer to its fans in Malaysia as well as Singapore.

He further stated that the club is honoured to be able to partner with such a reputable bank like Maybank.

The Maybank FC Barcelona card will also come with various rewards for its cardholders such as free for line annual fee, a year round 2% cashback on retail spending for a duration of 10 months capped at RM50 a month, and a 10% cashback on retail spending for the months of May and August, capped at RM100 a month.

An additional 0.10% per annum interest rate will be rewarded for those who sign up for Maybank2U Premier Account.