Malaysian lender Maybank expects that its debit card billings will surge by more than 20% to MYR7bn ($1.54bn) during 2014, boosted by its first new Maybank Visa Platinum Debit card.
In a press statement, Maybank head of regional cards and wealth B Ravintharan said the new card aims to tap into the growing acceptance by Maybank cardholders in performing debit transactions.
"We have been seeing significant increases in the number of debit transactions. In 2013, Maybank recorded more than 25 million debit transactions worth over RM5.7 billion and we are expecting this to be further boosted with the new Maybank Visa platinum debit card with payWave," he said.
The Malaysian lender said that its new debit card is the first Visa Debit Platinum card equipped with Visa payWave contactless technology in Malaysia.
The contactless technology enables users to carry out shopping by simply waving their Visa payWave enabled card in-front of a Visa payWave reader.
Furthermore, Visa Debit cardholders can now enjoy a higher purchase limit of MYR10,000 compared to the general Visa Debit card limit of MYR5,000.
Apart from offering a range of debit cards, Maybank also delivers the Visa Manchester United Debit card and the Visa Superman Debit card to cater to different cardholder segments.