Caption: (Left): Mr Chuah Yi Zhe, Head, Digital Marketing of MetaFin, (Second from left): Mr Sam Tang, Co-Founder & Advisor of MetaFin, (Third from left): Dato’ Marcus Kam, Founding Chairman of MetaFin, (Fourth from left): Mr Ken Yong, Head of Group Digital Transformation of Alliance Bank Malaysia Berhad, (Fifth from left) Mr David Lim, Head, Credit Cards & Personal Loans Product Development of Alliance Bank Malaysia Berhad at the collaboration ceremony.
Petaling Jaya, 22 July 2024 – Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”) has announced its collaboration with MetaFin, Malaysia’s first DIY digital platform for insurance and personal financial services, to introduce a new Visa Virtual Credit Card designed to provide users with a seamless and secure digital payment experience. This strategic partnership marks a significant milestone in the evolution of digital finance, offering enhanced convenience and security for consumers in today’s fast-paced digital world.
The virtual credit card combines the strengths of MetaFin’s advanced fintech capabilities and Alliance Bank’s extensive financial expertise. Users can now enjoy direct application of the Virtual Credit Card via the MetaFin Digital App seamlessly, making it easier than ever to manage finances and purchases on the go.
MetaFin’s Visa Virtual Credit Card introduces several innovative benefits. As Malaysia’s first in-app virtual credit card, it revolutionises digital payments by providing a highly secure payment method that protects users’ financial information. The card features a streamlined application process, making it easier than ever to obtain. Additionally, users can enjoy all these benefits with zero annual fee.
“This collaboration with MetaFin, a leading Malaysian insurtech platform, marks a significant step forward in making insurance more accessible for Malaysians. The virtual credit card complements MetaFin’s offerings by providing unparalleled convenience and flexibility, empowering users to seamlessly manage their finances and secure the insurance protection they need. The ease of application for the Visa VCC, coupled with the ability to split insurance premiums into 12 monthly instalments with our 0% Flexi Payment Plan, removes traditional barriers to obtaining insurance. This partnership aligns with our focus of providing personalised solutions in a convenient way to meet the needs of Malaysians and can potentially play a crucial role in increasing insurance penetration rates and fostering a culture of financial security,” said Gan Pai Li, Group Chief Consumer Banking Officer of Alliance Bank.
“We are excited to partner with Alliance Bank to introduce this innovative virtual credit card. This collaboration reflects our commitment to providing cutting-edge financial solutions that transform how our users manage their finances. The virtual credit card offers unparalleled convenience, security, and flexibility, including flexible payment options that cater to the needs of today’s digital-savvy consumers. MetaFin is dedicated to providing innovative and accessible solutions across insurance, banking, investment, healthcare, and lifestyle services. With the Visa Virtual Credit Card, users can effortlessly conduct transactions and access a wide range of services such as car insurance, medical insurance, life insurance, and more. Additionally, it serves as an excellent tool for members to refer the card to their friends and family. Designed to cater to diverse user needs, MetaFin ensures a comprehensive and seamless digital experience for all,” said Sam Tang, Co-Founder and Advisor of MetaFin.
The card’s cutting-edge features offer users exceptional control and security. Cardholders can seamlessly manage all their virtual cards, including freezing, unfreezing, or deleting cards at any time. Setting spending limits and managing recurring payments is straightforward, providing greater control over the online shopping experience. To enhance security, the card disguises the actual card number with a randomly generated 16-digit number that is valid for only 30 minutes per transaction. This feature ensures enhanced security and peace of mind by protecting the real credit card number from potential fraud.
Once approved, cardholders can instantly enjoy a cardless shopping experience and perform online banking on the go, making it a truly convenient tool for modern financial management. The eligibility requirements for the Visa Virtual Credit Card are straightforward. Principal cardholders must be 21 years old or above and have a minimum annual income of RM24,000.
To apply, users can download the MetaFin Digital app from the App Store, Google Play, or Huawei AppGallery and register an account. After selecting the Virtual Credit Card icon within the app, users can scan their MyKad and upload the necessary income documents. Apply today to experience the future of digital payments.
Additionally, cardholders can enjoy exclusive rewards within the app. After downloading the app and registering their accounts, users can refer friends and family to earn more rewards and enjoy additional savings that can be applied to their purchases across the MetaFin ecosystem.
About Alliance Bank Malaysia Berhad
Alliance Bank is dedicated to offering differentiated financial and non-financial solutions across consumer, SME, corporate, commercial, and Islamic banking sectors. Embracing its ‘The Bank for Life’ brand purpose, Alliance Bank is committed to meeting the ever-evolving needs of its customers, serving as a dependable banking partner throughout their lifetime.
With a vision of community-centric banking, Alliance Bank deeply engages with the community through an omni-channel approach. Customers can interact with Alliance Bank through an extensive network of retail branches, Privilege Banking Centres, Business Centres, and Digital banking services. The Bank aims to foster meaningful connections within the communities it operates in.
About MetaFin Sdn Bhd
MetaFin is Malaysia’s first DIY digital platform for insurance and personal financial services. MetaFin is dedicated to providing users with innovative and accessible insurance, banking, investment, healthcare and lifestyle solutions. The platform offers a wide range of services, including car insurance, medical insurance, life insurance, and many more, all designed to meet the diverse needs of its users. MetaFin aims to transform the financial landscape in Malaysia, making financial management simpler and more accessible for everyone.
For more information on this press release, please contact EddyTeh at 017-758 6519, or e-mail at eddyteh@alliancefg.com.