Tune Money Sdn. Bhd. expects to increase its prepaid cardholder base by at least five times, to 300,000 cardholders, by the end of this year through various new marketing initiatives, a spokesperson for the Malaysia-based online financial-services company tells PaymentsSource.

The company issues two types of Visa-branded prepaid cards in Malaysia, the Tune-In card for consumers ages 18 years and older and the junior Pulse card for teens ages 15 to 17.

The cards can be bought for 12 ringgits each and have a monthly fee of 1.5 ringgits a month. ATM withdrawals cost 1.15 ringgits per transaction.

“The bank has close to 62,000 cardholders,” the spokesperson says. “The company plans to get more cardholders with several new campaigns.”

The first began June 1 with the “Tune-In to South Africa” contest, which is deigned to attract new applicants, who will vie to win 100,000 ringgits (US$30,600 or 23,000 euros) worth of prizes that include cash, World Cup team jerseys, LCD television sets, and such gadgets as laptop computers and Apple Inc. iPads.

The campaign will run until July 26.

 

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