Maybank Expects Huge Increase Of e-Angpao Transactions During CNY 2021

Maybank is targeting a 100% growth in both the number and value of e-Angpao transactions this Chinese New Year, as Malaysians become more acceptable to the digital wallet and with Movement Control Order (MCO) 2.0 remains in effect throughout the nation. The bank expects close to 1.7 million e-Angpao transactions amounting to over RM60 million to be sent by customers during this year’s CNY celebrations.

“In light of the pandemic, the e-Angpao service provides our customers who are unable to meet with their families this Chinese New Year, a safe and convenient way to participate in the cherished tradition,” said John Chong, Group Chief Executive Officer, Community Financial Services of Maybank.

“We hope that the e-Angpao will be able to give them a sense of normalcy and a chance to bond with their family members despite having to physical distance to keep everyone safe,” he added.

For those who are not familiar with e-Angpao, Maybank customers can send it to family and friends by clicking on the e-Angpao icon on Maybank’s new MAE app, from 8 February until 7 March 2021. An e-Angpao can be sent in two ways: first, using the ‘Send Money’ function for recipients with the MAE app; or second, using the ‘Scan & Pay’ function for recipients with a QR code-enabled banking app.

Meanwhile, Maybank customers who send a minimum of RM5 e-Angpao with the MAE app can also earn entries to participate in the ‘ALL SORTS OF ONG’ giveaways which offers RM 7 million worth of cash and vouchers. To learn more, just head on to the MAE section of Maybank’s official website.