Maybank2u.com Cyber Mall is
Country’s First
E-commerce Portal by a Financial Institution
Maybank has launched the country's
first e-commerce portal hosted by a financial
institution on its financial portal at www.maybank2u.com.
The “Maybank2u.com Cyber Mall”,
is an electronic shopping mall accessible via
Maybank2u.com, which provides customers a range
of on-line shopping conveniences. The cyber
mall currently offers products ranging from
electronic items to IT merchandise as well as
health and lifestyle products. The on-line merchants
at the cybermall are payee corporations with
Maybank2u.com.
Maybank has selected TM Net Sdn
Bhd, Malaysia’s leading Internet Service
Provider in the country, as the strategic business
partner for the cybermall project. TM Net Sdn
Bhd will provide the infrastructure, e-commerce
engine, network connectivity, web hosting and
logistics support for this portal.
To shop at the cybermall, a customer
needs to be a registered Maybank2u.com user
and access to the cyber mall is via Maybank2u.com.
The on-line purchase feature is similar to current
on-line shopping transactions, where customers
can view the item, place the selected item into
a `basket' and then pay on-line for their purchase.
For payments, the customer will pay via Maybank2u.com
and select to pay from either their savings
or current account.
In a statement to announce the
cybermall, Datuk Johar Che Mat, Senior Executive
Vice President and Head of Retail Financial
Services Maybank said that the Maybank2u.com
Cyber Mall will provide value-added services
to both customers and business partners.
"Maybank2u.com Cyber Mall
is a revolutionary concept by a financial institution
because it provides our business partners an
opportunity to start e-commerce or expand their
e-commerce activities. The cybermall is an important
milestone for Maybank as part of the bank's
contribution to stimulate as well as promote
e-commerce growth in the country. Merchants
at our cybermall are able to leverage on our
brand, take advantage of the high customer traffic
at Maybank2u.com as well as use the proven secure
and convenient payment facility of Maybank2u.com
to enhance their business streams by offering
online shopping," said Datuk Johar.
“Customers will enjoy a
number of conveniences by shopping online because
the merchants in the Cyber Mall are also payee
corporations of Maybank2u.com. We will assist
our merchants to promote on-line shopping by
holding special programmes that offer attractive
discounts and privileges, which means savings
for customers who shop our cyber mall. Payment
is also convenient, secure and immediate and
the on-line merchants are also required to comply
with a service level obligation to ensure prompt
delivery of goods and services purchased,”
added Datuk Johar.
“This new channel will
allow individuals and companies in Malaysia
to adopt the best practices of online business
to become globally competitive and dynamic.
With the implementation of this new project,
we are now able to take things a step further
and contribute to the increase in usage of the
Internet for online retail transactions. This
can move to the next level where we are able
to offer Malaysian products to the world via
the Internet,” said Michael Lai, Chief
Executive Officer, TM Net Sdn Bhd.
Datuk Johar also said that Maybank will work together with TM Net Sdn Bhd and the merchants to enhance the cybermall by adding more merchants to expand the number of products and services in the cyber mall. At a later stage, customers will also be able to use their credit card to pay for their purchases.
Maybank2u.com currently has over 2.2 million registered users. Among the most
popular services are balance enquiry, bill payment, fund transfer
and purchase of prepaid payments. Maybank2u.com
registers an average of more than 7 million transactions valued at
over RM1 billion per month.