Bank of China, Mastercard Launch New Travel Credit Card With Air-mile Rewards

With no earnings cap and accelerated rewards, the BOC Elite Miles World Mastercard is Singapore’s best miles-earning card for frequent travelers

Traveling is now Singapore’s favorite past-time, with Singaporeans making an average of more than 5 trips a year. Bank of China Singapore Branch (BOCSG) today launched the Bank of China Elite Miles World Mastercard for globetrotters to enjoy even more rewards. Cardholders get 2 miles per S$1 on local spending, and 5 miles per S$1 on overseas spending during its launch offer, valid till 31 December 2018. Consumers will continue to enjoy the highest and most rewarding earn rate after the launch offer on any spend at 1.5 miles for every S$1 local spend and 3 miles for every S$1 spend abroad.

Mr Anson Lim, Head of Card Centre at Bank of China Singapore Branch, said, “This latest BOC Elite Miles World Mastercard is our first credit card that is specially tailored for the frequent travelers segment. Singaporeans love their travel and we want to ensure that our card makes it easy for them to redeem free air tickets faster and to travel even more frequently. With this card, cardholders will enjoy the highest miles earn rate on any spending. In addition, cardholders can use their accelerated points to redeem for faster rewards such as Grab, groceries, petrol vouchers and more.”

“In addition to the frequent travelers segment, the new card also caters to the growing millennial appetite for adventure. Young professionals can earn KrisFlyer or Asia Miles for a ticket to Bali with less than S$1,000 card spending a month!”

BOC Elite Miles World Mastercard cardholders can also look forward to complimentary access to over hundreds of Plaza Premium Airport Lounges 4 times a year and enjoy exclusive access to Mastercard privileges globally. For those who prefer other experiences, BOC points can be converted to redeem for access to many lifestyle rewards.

Enabled with Mastercard contactless, cardholders can simply “tap and go” to pay for bus, train and taxi rides, whilst also earning BOC points for miles rewards. This is the second collaboration between BOCSG and Mastercard in 2018. The two partners recently launched the BOC Qoo10 World Mastercard to address the growing trend of online shopping.

“Consumer preferences, spending patterns and payment channels are changing rapidly, but cashless push among governments all over the world has seen demand remain steady for credit cards. Our latest collaboration with Mastercard enables us to quickly respond to the evolving consumer with card products that meet their lifestyle needs. This contactless card rewards customers with miles for every dollar spent on their everyday purchases.” said Mr Anson Lim.

Ms Deborah Heng, Country Manager, Mastercard Singapore, said, “Travel today is much more accessible with increased connectivity. We are seeing strong growth in overseas and travel related spend so the launch of the BOC Elite Miles World Mastercard is timely to better serve the burgeoning travel segment. As part of this collaboration in partnership with BOC, cardholders will have access to the Mastercard World Platform, which will provide them exclusive access to unique dining, lifestyle and entertainment experiences, further cultivating their passion for travel and new adventures.”

BOCSG has an extensive local network of 23 touch points, giving customers easy access to customized and innovative banking solutions. Cardholders can perform easy and speedy transactions through BOCSG’s various platforms, including internet banking, mobile banking as well as its network of more than 200 ATMs islandwide.  BOCSG is the first and only bank in Singapore to support cross-border UnionPay QR code payment service globally and the only bank in Singapore to offer premium cards across all three payment networks (Mastercard, Visa and UnionPay).

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About Bank of China Singapore Branch
Established in 1912, Bank of China is the most internationalized and diversified bank in China. It provides a comprehensive range of financial services that spreads across the Chinese mainland and in 55 countries and regions around the world. For over a hundred years, the Bank has upheld the spirit of pursuing excellence at the heart of its business. In face of the period of historic opportunities for great achievements, Bank of China will persistently enable advancement through technology, drive development through innovation, deliver performance through transformation and enhance strength through reform, in an effort to build the Bank into a world-class bank in the new era.

Bank of China Singapore Branch began operations in 1936. It holds the Qualifying Full Bank License with a network of 23 touch points island-wide. Its suite of banking services includes corporate banking, personal banking, financial markets and investment banking, with many of its products and services a market leader in Singapore. The Branch also has various business centers including Commodity Business Unit (Commodity Finance Unit, Global Commodity REPO Centre and Commodity Trading Platform), Forfaiting Unit, Card Unit, Private Banking Unit, Debt Capital Market Centre (Asia), Overseas Training Centre and Innovation and R&D Centre. Strategically located in Singapore, its operations extend beyond Southeast Asia to the global market.

Since its establishment, Bank of China Singapore Branch has been committed to strengthening Sino-Singapore relations. In 2016, the Branch became the first wholly owned Chinese enterprise to be conferred the “Business China Enterprise Award”. In 2017, the Branch became a council member of the Association of Banks in Singapore, and was elected as the chairman of the Southeast Asia Regional Committee of the International Trade and Forfaiting Association. The Branch is committed to establishing a financial artery for the “Belt and Road” initiative. It has provided vigorous support for the ‘Belt and Road’ initiative by financing projects in nearly 20 countries and regions along the route with a cumulative amount of over US$16 billion dollars. It has also raised funds for institutions and enterprises who participate in “Belt and Road” projects with over US$70 billion dollars of syndicated loan as mandated lead arranger and over US$10 billion dollars of bond issuance as underwriter and distributor.

BOCSG is the first and only bank in Singapore to support cross-border UnionPay QR code payment service globally and the only bank in Singapore to offer premium cards across all three card associations (Visa, Mastercard and UnionPay).

Please visit www.bankofchina.com/sg for more information on our products and services.

About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry.  Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.  Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.  Follow us on Twitter @MastercardAP, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

For media queries, please contact:
Asia PR Werkz, on behalf of Bank of China Singapore Branch
Nurul Rasheed
Mobile: (65) 9474-6733
Email:  nurul@asiaprwerkz.com

Asia PR Werkz, on behalf of Bank of China Singapore Branch
Chua Zhi Hua
Mobile: (65) 9829-5272
Email:  zhihua@asiaprwerkz.com

Weber Shandwick, on behalf of Mastercard
Celina Lim
Contact: +65 6825 8025, + 65 90997618
Email: Celim@webershandwick.com