Maybankard 2 Gold & Platinum Cards V14

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Credit Cards Maybankard 2 Gold & Platinum Cards V14, #PrayForM2Amex #ripM2Amex

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limjenson	Jun 26 2015, 02:47 PM Return to original view \| Post #1
Enthusiast Senior Member 755 posts Joined: Jan 2008	Damn just applied during Maybank treats fair. Now it's going to be useless. Redemption point increased, no more cashback. What's the purpose. First OCBC then UOB and now Maybank.
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limjenson	Jun 26 2015, 03:32 PM Return to original view \| Post #2
Enthusiast Senior Member 755 posts Joined: Jan 2008	QUOTE(zaqre @ Jun 26 2015, 03:24 PM) summary: bank use interchange fee to fund the rewards(cashback, treatpoint, etc) BNM lower the cap of interchange fee bank can't afford to give the rewards anymore *read the red color text in the spoiler for related info, blue color text for interesting point » Click to show Spoiler - click again to hide... « On Dec 23, Bank Negara released the Payment Card Reform framework on its website. Among the many measures, some salient points stood out. > Card terminals will need to be increased from 220,000 to 800,000 by 2020. A portion of them will need to be wireless and contactless. > Contactless terminals will make up some 30% of all terminals. > All debit cards have to be contactless enabled. Thus, all debit cards have to be recarded by 2017 > Debit card transactions to increase 10-fold by 2020. Consumers can expect great debit card offers as merchants encourage its use. > Debit card interchange fee will immediately drop to 0.15% for domestic transaction and 0.21% for international transactions versus the average 1%. > The interchange fee for credit card will be capped at an interim ceiling of 1.1% from an average 1.2% currently up to 2020. It will be brought down to 0.48% by 2021 (if the cost structure remains unchanged). > All card transactions will move from signature base to PIN based by 2017. » Click to show Spoiler - click again to hide... « Drop in cardholder rewards and loyalty programmes? Tan said that Bank Negara had conducted a cost study on the banks’ excess interchange fee revenue. After accounting for the transaction related costs, this excess revenue is used mainly to fund cardholder rewards and loyalty programmes. “Thus, the revision of the interchange fee rates after the framework, will not impact the banks’ profitability. “Consumers are also better off as any reduction in the cardholder rewards and loyalty programmes would make payment card acceptance more affordable and lessen the pressure on merchants to pass on the cost by raising the price of goods and services,” he said. Cardholder rewards and loyalty programmes are funded through the interchange fees, which constitute the main component of the MDR paid by the merchants. Merchants are likely to recover such cost through higher prices of goods and services. Consequently, consumers who do not use payment cards may end up subsidising the cardholder rewards and loyalty programmes enjoyed mostly by premium cardholders. QUOTE “Consumers are also better off as any reduction in the cardholder rewards and loyalty programmes would make payment card acceptance more affordable and lessen the pressure on merchants to pass on the cost by raising the price of goods and services,” he said. Lel. Malaysia prices once goes up, will never go down.
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limjenson	Jun 26 2015, 03:36 PM Return to original view \| Post #3
Enthusiast Senior Member 755 posts Joined: Jan 2008	QUOTE(maskedchan @ Jun 26 2015, 03:34 PM) actually what BNM doing are pressuring the merchant to lower their price as merchant usually pass the interchange fees back to consumers.. this is a good move from BNM but knowing how businessman doing business in Malaysia, no way they going to lower their price... implementation of 6% GST on April are a good example.. so indirectly, we get lesser benefit from bank, merchant still selling same price, bank nothing to lose.. consumer are the bigger loser here Yes exactly. This is already proven to be true when we see our petrol price reducing but yet everyday item and costs still remains at the price when petrol was at its highest. Why does BNM think it's going to be any different with all these retail merchants.
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