Mastercard announced its partnership with Mox Bank Limited (“Mox”), a new virtual bank backed by Standard Chartered in partnership with PCCW, HKT and , 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,” saidDeniz 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 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.