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Learn moreNov 2020
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Charge cards is the smallest category in terms of cards in circulation and value transactions, driven by the dominant personal charge cards. Prior to the pandemic, demand for personal charge cards was primarily driven by affluent consumers with a high-end lifestyle, which includes expatriates, who unlike credit card holders who tend to be wary about spending, tend to be more willing to spend on expensive electronics, high-end household items and luxury travel.
The Movement Control Order that was introduced in March as part of the country’s response to COVID-19 was not only highly restrictive in terms of reducing overseas spending through personal charge cards, but also for commercial charge cards, due to lack of travel abroad for business reasons. Commercial charge cards tend to be mainly used for travel and hotel bookings, and these restrictions, which extended beyond the initial MCO due to ongoing bans concerning international travel, resulted in a significant decline in terms of number of transactions and transaction value in 2020.
American Express Co remained the leading local operator of charge cards (for both commercial and personal) in 2020, supported by its partnership with the dominant issuer Maybank (Malayan Banking). Towards the end of the review period, the operator strengthened merchant acceptance in an attempt to debunk the perception of American Express cards as having a premium image, and to reinforce its positioning as a card for smaller everyday transactions.
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Discover the latest market trends and uncover sources of future market growth for the Charge Card Transactions industry in Malaysia with research from Euromonitor's team of in-country analysts.
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If you're in the Charge Card Transactions industry in Malaysia, our research will save you time and money while empowering you to make informed, profitable decisions.
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Euromonitor’s industry reports, including Charge Card Transactions in Malaysia, originate from our database within our Consumer Finance market share and market size database
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.