RHB Bank launches P1 eCash card to meet demand from customers

Kuala Lumpur, October 04, 2007:RHB Bank Bhd ("RHB Bank")

launched the RHB PlusOne eCash prepaid card today - the 10th in the bank's range of cards. Called simply the P1 eCash card, it has been developed in response to the growing demand from customers who prefer to pay by electronic means.

CEO at RHB Bank, Mr Michael J Barrett said "Market research undertaken by the bank had shown that an alternative payment tool with superior benefits and privileges was preferred to cash." This, he said, presented banks an opportunity to tap into a new and fast growing customer segment that has not been penetrated yet.

"With this in mind, RHB Bank collaborated with Senheng Electric (KL) Sdn Bhd to bring this innovative product to the market to meet this demand. This is a product that is not only better than cash, but can help the cardholder save money," he added.

"The P1 eCash card was designed with the flair and curves that can be instantly recognized as similar to the very successful PlusOne credit card, that we are proud to say, has acquired more than 60,000 cardholders since it was launched last year," Mr Barrett said.

Apart from the privileges and benefits of a credit card, the P1 eCash card also earns the cardholder reward points that he can redeem for a choice of over 5,000 items. This card also enables the cardholder to earn rebates on all purchases, or 1% P1RM (PlusOne Ringgit) rebates. On top of that, cardholders enjoy an additional one-year warranty on all purchases made at Senheng and SenQ outlets nationwide

"The P1 eCash card is also a convenient and secure payment tool. For instance, you can use the card at the petrol pump instead of having to queue up at the payment counter, so there is no need to dig into your pockets for spare change. If you lose the card, a call to RHB Bank's Call Centre will enable you to block any further usage of the card," Mr Barrett said.

Online transactions are also made easier with the P1 eCash card, as your liabilities are capped at the amount that you have loaded into the card. In addition, cardholders can also enjoy discounts at Blooming Florist, as well as the ability to earn multi reward points when your travel arrangements are made with Holiday Tours. Even a cup of coffee at Starbucks could also come free with your points. There are many more privileges at RHB Bank partners so cardholders can look out for them when using the card.

Parents will also find this card useful in educating their children on financial planning, as well as convenient when transferring funds to their children staying and studying away from home or even overseas.

RHB Bank's partnership with Senheng has grown from strength to strength and more outlets are now available in major shopping malls. This makes it easier and more convenient for customers who want to apply for this card.

Mr. Michael Lor, Head of Consumer Banking Department at RHB Bank adds that "Senheng has a large membership base that primarily uses cash and as such, we are confident of achieving 30,000 cards within the first three months of launch".

Cardholders can also expect more exciting programmes and privileges from RHB Cards. From it generic credit cards such as Classic and Gold cards, to the hip and happening contactless EVO cards, up to the prestigious high-end Platinum and Visa Infinite cards as well as its newly launched Travel Money card for the discerning traveller, RHB Cards have been delighting every customer segment with a host of real benefits and programmes.

"We want to bring better choices and more convenient payment solutions to our customers and Malaysians as a whole," Lor added.