KUALA LUMPUR: Malayan Banking Bhd (Maybank) has unveiled a "green" credit card that can track and monitor users' carbon footprints.
Claiming it as the first in Asean, Maybank said myimpact credit card boasts a built-in Carbon Footprint Calculator to measure roughly the carbon emission impact for transactions via the card.
Maybank group president and chief executive officer Datuk Khairussaleh Ramli said myimpact will entice customers who are into sustainable lifestyle and eco-purchases.
"It will catch on, although it will take a bit of time. Once people are aware of this card, more customers will purchase them," he told reporters after the launch of myimpact here today.
Myimpact is made from bio-sourced polylactic acid derived from non-edible corn. It has no compounding interest/management fees as well as no late payment charges and lifetime free waiver.
Maybank is targeting about 20,000 new cards users by December this year. These users are expected to contribute to a total spending of RM65 million for the next 12 months.
Khairussaleh said myimpact credit card is part of the bank's overall plan to build awareness on sustainability among customers while providing them with an avenue to exercise their commitment to environmental, social and governance-related practices.
The data insights of the purchases are available on the MAE app and Maybank2u web.
With insights from the Carbon Footprint Calculator, card members are able to contribute to various reforestation initiatives to offset their carbon footprints.
These include Greening Malaysia programme, Keo Seima Wildlife Santuary REDD+ Project in Cambodia, Katinggan Conservation Project and Rimba Raya Reserve Project in Indonesia.
He said Maybank credit cards have remained the preferred choice for Malaysians. The bank currently commands over two million credit cards in the market.
"We continue to progress in our sustainability commitments and is in line with our M25+ strategic thrusts of becoming a sustainability leaderin the region," he said.
Since 2020, Maybank haas cumulatively mobilised close to RM40 billion in sustainable finance, improved nearly 970,000 households across Asean, reduced 43.5 per cent of its Scope 1 and 2 emissions and achieved close to 260,000 annual sustainability hours.