Malaysia's Affin Bank Berhad, in collaboration with MasterCard and Boustead Petroleum Marketing, has unveiled the world's first fuel card using OneSmart MasterCard PayPass.

The Affin Bank BHPetrol Touch & Fuel MasterCard with PayPass employs the PayPass contactless payment feature in a curved card designed exclusively for MasterCard cards.

According to Jim Cheah, vice president and senior country manager for Malaysia and Brunei at MasterCard Worldwide, the launch of the Affin Bank BHPetrol Touch & Fuel MasterCard with PayPass is a significant milestone achievement for all three companies, especially within the field of contactless payments.

Designed to offer a fast and convenient way to pay for their everyday purchases, cardholders simply need to ‘tap & go’ at any PayPass terminals around the globe. This translates to a reduction in cash handling, thereby improving efficiency at the point of sale and ease of use to cardholders. Cardholders can use the card at approximately 32,000 participating merchant locations around the world.

The card’s customers will enjoy an annual fee waiver for life, up to 0.8% cash rebate on retail transactions, lowest finance charges of 15% per annum or 1.25% per month, balance transfer for six months at 6.88% per annum, free RM20 petrol credit, and free RM30,000 travel accident insurance.

Winning the hearts and minds of the customers is key to our success and in doing so we are able to encourage consumers to choose BHPetrol as their service station of choice, commented BHPetrol managing director Tan Kim Thiam. The Affin Bank BHPetrol MasterCard program further aids in BHPetrol’s business diversification initiatives as well as enhances the brand’s current market share.