Mastercard and Mox Partner to Launch All-In-One Numberless Bank Card
July 7, 2020 | Hong KongDigital-first, numberless bank card provides simple, convenient and secure payment experience
Mastercard today announced its partnership with Mox Bank Limited (“Mox”), a new virtual bank backed by Standard Chartered in partnership with PCCW, HKT and Trip.com, to introduce an all-in-one numberless bank card to Hong Kong. The innovative solution offers one card for all purchases and ATM withdrawals, creating a simple, smart, safe and secure payment experience for cardholders.
Fostering smart city development, the new card adopts the “digital first” principle by featuring only the embedded chip, the cardholder’s name and the Mastercard and Mox logos. Other pieces of information visible on traditional bank cards – such as the card number, expiry date and card validation code (CVC2) – are saved in the chip and can only be accessed digitally, further enhancing privacy and security.
With its fast, secure and reliable global network, Mastercard gives Mox cardholders robust, multi-layered protection. As important card details are digitally stored, cardholders benefit from greater security and convenience by simply logging in to Mox’s mobile app and verifying their identities to obtain the required information when making purchases.
“Mastercard has been known for its technological innovation in the payments industry for years. We are excited to partner with Mastercard on our journey as we look to make banking simpler, smarter and safer through the launch of our virtual bank in Hong Kong this year, and through the introduction of the new numberless bank card,” said Deniz Güven, Chief Executive Officer, Mox.
“Through innovative payment technology such as the digital first, numberless bank card, Mastercard is proud to showcase its leadership in the payments industry. Mastercard’s partnership with virtual bank Mox to provide a fast, safe and convenient cashless payment experience also demonstrates its commitment to pushing forward the development of Hong Kong as a smart city,” said Helena Chen, Managing Director, Hong Kong and Macau, Mastercard.
Getting the Mox card is fast, secure and free. When Mox launches, you can open a Mox account simply and start using the digital card within a few minutes from your mobile phone anytime, anywhere. A physical card, which features one-tap card activation via near-field communication (NFC) technology, is also available to cardholders. The Mox card carries the 3-D Secure software designed for safe online purchases, as well as a lock/unlock function that lets cardholders have full control over their card usage.
Cardholders can also monitor their real-time account activity and balance with instant categorization. With Mox’s intelligent 24/7 monitoring system in effect, users are protected from fraudulent, unauthorized transactions. The card face designs come in a beautiful blue or in a limited-edition black stainless steel exclusively for Founding Members, adding style and creativity to the cashless experience.
Go digital and experience a fast, hassle-free, safe and secure way to pay with the Mox card powered by Mastercard.
About Mox Bank Limited
Mox is the new virtual bank by Standard Chartered in partnership with PCCW, HKT and Trip.com. We are the combined power of a leading international bank, the city’s telecom and lifestyle leader and Asia’s largest online travel agency.
We were among the first to obtain a virtual banking licence in Hong Kong in March 2019. Launching in 2020, we aim to help our customers grow by delivering a suite of retail financial services as well as lifestyle benefits all in one place, growing your money, your world and your possibilities.
Follow us on mox.com, Facebook, Instagram and LinkedIn.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
Mastercard Communications Contact
Karen Lo
Karen.Lo@mastercard.com
Janus Lau
Janus.Lau@mastercard.com
Mastercard’s Agency Communications Contact
Vicky Lo
(852) 2533 9940
vlo@webershandwick.com
Sam Cho
(852) 2533 9982/ 9558 8495
scho@webershandwick.com