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22 March 2017

Online Approval for New CIMB Lazada Prepaid Mastercard

Fastest and most convenient online-approved card with great cash rebates for customers  

Kuala Lumpur: CIMB Bank Berhad (“CIMB Bank”) and Lazada Malaysia have entered into a strategic partnership to introduce an exciting Mastercard prepaid card which can be approved online, making it the fastest and most convenient prepaid card for the digitally savvy shopper. The card offers great cash rebates as well as merchant discounts to reward customers when they shop at Lazada, the number one online retailer in Malaysia and South East Asia.

The card is available online on CIMB Clicks and the Lazada website. Upon the issuance of the virtual 16-digit card number, customers can start shopping almost right away. Subsequently, they will be issued with a physical CIMB Lazada Prepaid Mastercard for offline spending and banking facilities in Malaysia, including ATM cash withdrawals and internet/mobile banking.

Chief Executive Officer, Group Consumer Banking, CIMB Group Samir Gupta said, "We are proud to partner with Lazada and Mastercard on this fully digital co-brand 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. 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.”

With this card, customers will enjoy a 1% cash rebate, capped at RM25 per month for online Lazada purchases at www.lazada.com.my. Other non-Lazada purchases are eligible for a 0.50% cash rebate up to RM25 per month. In addition, from now until 5 December 2017, customers can enjoy the first-year annual fee waiver and an additional 15% bonus cash rebate, capped at RM25 per month for purchases from Lazada.

“We are thrilled to embark on this partnership with CIMB Bank in launching this virtual co brand Mastercard. This collaboration ties in with Lazada’s commitment to continuously improve consumers’ shopping experience online through exceptional customer service, a wider variety of products and a range of payment solutions. With Lazada’s Riang Ria Raya campaign happening from now until 30 June, this card would enable consumers to shop for their Raya needs while enjoying a secure and hassle free experience on our platform,” said Hans-Peter Ressel, CEO of Lazada Malaysia.

"The Mastercard Online Shopping Study 2017 showed that eight in 10 consumers across Asia Pacific intend to make at least one online purchase in the first half of this year. The continued interest and optimistic online shopping attitude showcases the potential innovative e-payments have to support the burgeoning growth of the e-commerce industry. The CIMB Lazada Prepaid Mastercard has a strong and relevant customer proposition, combining the convenience, safety and efficiency that consumers value with a range of unique benefits that match their lifestyle demands," said Perry Ong, Country Manager, Malaysia and Brunei, Mastercard.

The CIMB Lazada Prepaid Mastercard is exclusively available to all existing CIMB customers.  CIMB customers who have yet to have access to CIMB Clicks can simply logon to www.cimbclicks.com.my to register for CIMB Clicks first prior to applying online for the CIMB Lazada Prepaid Mastercard. 

Samir Gupta, Chief Executive Officer, Group Consumer Banking, CIMB Group (centre); Hans-Peter Ressel, Chief Executive Officer, Lazada Malaysia (left) and Perry Ong, Country Manager, Malaysia and Brunei, Mastercard with the new CIMB Lazada Prepaid Mastercard.