CIMB Bank, a Malaysian lender, has collaborated with Lazada Malaysia, an e-commerce company, to roll out a MasterCard-branded prepaid card that will provide customers with cash rebates and merchant discounts.

The prepaid card, which can be approved online, is available on the websites of CIMB and Lazada. Once a virtual 16-digit card number is issued, users can immediately start shopping, according to the bank.

Later on, the customers will be issued with a physical card for offline transaction and banking facilities in Malaysia, such as ATM cash withdrawals and Internet and mobile banking.

Cardholders can enjoy a 1% cash rebate, capped at MYR25 per month for online Lazada purchases at lazada.com.my. Other non-Lazada purchases will get a 0.50% cash rebate up to MYR25 per month.

CIMB group consumer banking CEO Samir Gupta said: “We are proud to partner with Lazada and MasterCard on this fully digital co-branded card, to bring unique benefits and great convenience to our customers.

“The online shopping segment in Malaysia and Southeast Asia is expanding rapidly and we are excited to contribute to this growth story.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This fits into our overall digital strategy to lead in the e-commerce payment ecosystem, as we go the extra mile to enhance our customers’ experience by making it easier, more efficient and more secure for them to shop online.”

The prepaid card is available to all existing CIMB customers.