Malayan Banking Bhd is expecting a 100% increase in the value of ‘e-Duit Raya’ transactions compared to the previous year.
The bank said this is based on the growing popularity of cashless convenience during the festive period and the introduction of a payment feature called “My Raya QR”.
My Raya QR is the first peer-to-peer instant transfer service in the country which allows customers to instantly send and receive Duit Raya by scanning a QR code through the Maybank phone application.
The bank said with this, they are expected to see transitions grow to RM2.7million this year compared to RM1.3million last year.
Maybank’s head of community financial services Datuk Hamirullah Boorhan said the e-Duit Raya, e-Ang Pow and DeepaMONEY have grown in popularity as Maybank App users opt to use these to send cash gifts to their loved ones.
“When we first pioneered this service in 2015, we recorded over 8,600 festive cashless transactions. Since then, this act of giving electronic cash has gained tremendous momentum, increasing by over three times in terms of number of transactions,” he added
Hamirullah said in 2017, more than 30,000 festive e-cash transactions were made by Maybank’s customers.