Maybank targets debit card spending

Maybank is eyeing a 100 per cent growth for customers' debit card spending in the current financial year. The bank will popularise debit card use through promotions and expanding the number of merchants offering debit card payment.

Maybank's latest "Debit & Drive Home A Volkswagen Polo" campaign is among the debit card promotios to reinforce the bank's leadership in the sector.

At present, Maybank commands over 75 per cent of Visa debit card share.

With the campaign, the bank aims to increase more than 60 per cent in the monthly Visa debit transaction volume reflecting the increasing popularity of the use of debit cards as a mode of payment, it said.

Maybank said the campaign also aimed to increase the number of merchants offering debit cards by at least 10 per cent this year.

Currently, 60,000 merchants accept Maybank's debit card.