Malaysia-based Bank Simpanan Nasional (BSN) has launched its new Visa debit card with payWave functionality, to enable users to shop easily and securely without the need of any personal identity number (PIN) or signatures.
BSN chief executive officer, Adinan Maning, was quoted by media sources as saying, "As the community bank for all Malaysians, we have always spearheaded the message of thrift and savings and the new BSN Visa debit card with Visa PayWave is one of the ways for us to tell Malaysians especially the young ones that they have to spend within their financial means.
"This card is the solution to a sound financial management."
Equipped with MEPS, Touch N Go, Plusmiles and BCARD loyalty programme, BSN Visa debit card features a five in one multi-application linked to a BSN savings account.
With the launch of the new card, BSN is planning to add up to one million Visa debit cardholders in 2014. The 25% increase will bring its number of cardholders to roughly five million.
Currently, BSN has eight million deposit customers and expects to sign up 700,000 new savings accounts.
Additionally, BSN is also planning to convert 500,000 Visa Electron Matrix cardholders to the new debit card.