AEON Bank To Partner With Visa For Payment Solutions, Including Visa Debit Card-i

Alex Cheong Pui Yin

7th May 2024 - 2 min read

Digital bank AEON Bank has announced its partnership with Visa to roll out a range of payment solutions, starting with the upcoming introduction of an AEON Bank x Visa Debit Card-i for its accountholders. From there, it will go on to introduce a range of other digital payment solutions that cater to the increasing demand among Malaysians for secure, reliable, and shariah-compliant cashless and digital banking services.

In a joint statement, AEON Bank also revealed that upon launching, customers who obtain the AEON Bank x Visa Debit Card-i will be able to tap into various attractive rewards and sign-up bonuses via a launch campaign. It did not, however, disclose any details of these rewards as of yet.

Speaking on the partnership, the chief executive officer of AEON Bank, Raja Teh Maimunah said that the digital bank’s collaboration with Visa will enable it to serve the people with relevant solutions.

“AEON at large and Visa have a long history of impactful partnerships. Therefore, AEON Bank is excited to partner with Visa and optimise on their innovative capabilities in providing secure, easily accessible, and convenient banking solutions to meet the demand of local customers in Malaysia. This would enable our customers to enjoy wide-ranging benefits through Visa’s broad network of merchants and partners, while making it possible for us to offer shariah-compliant solutions to Malaysians from all walks of life,” said Raja Teh Maimunah.

Similarly, the country manager for Visa Malaysia, Ng Kong Boon said that the partnership will allow the digital payment service provider to play an even bigger part in transforming the way Malaysians transact.

“The payments industry, consumer demands, and payment technologies are evolving faster than ever. We are excited to partner with AEON Bank and this strategic partnership will enable us to evolve with the changing landscape,” Ng further said.

For context, AEON Bank is one of the five applicants to have successfully obtained the digital banking licence offered by Bank Negara Malaysia (BNM). Billed as Malaysia’s first Islamic digital bank, it is slated to launch its app by the end of the second quarter of 2024. Aside from the debit card, AEON Bank’s website had also previously indicated that it will introduce features like Savings Pots and budgeting tools in its app.

(Sources: FintechNews Malaysia, Digital News Asia)

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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