MasterCard Brings MasterPass To Hong Kong

MasterPass has made its way to Hong Kong.

By working with the local banks in the region, MasterCard announced Tuesday (July 14) that it was able to launch its digital payment platform into a new market — helping grow its global footprint.

Because MasterPass enables consumers to store their card data — including shipping and billing information — in one place, the digital payment solution has been referred to as the “seamless, secure and speedy” way to shop online. Now, instead of having to enter payment and shipping information, consumers in Hong Kong can opt to use MasterPass as a way to pay in one click, tap or touch (depending on which device they are paying with).

And among the mobile-crazed consumer base in Hong Kong, MasterPass might just be what consumers have been asking for.

“According to the latest MasterCard Online Shopping Survey in Hong Kong, nearly 90 percent of local consumers love to shop online using their mobile devices. We have also found that security and reputation of the website are both top considerations for local consumers when shopping online,” Anna Yip, head of Hong Kong and Macau at MasterCard, said in a company news release.

“MasterPass addresses the concerns of online shoppers, as well as their needs of speed, ease and convenience by offering a one-stop secure payment platform for our digitally savvy consumers, who are looking to shop and pay safer, faster and simpler. MasterCard is leading the transition to digital payments with the convergence of innovation and digital lifestyle,” she added.

To bring MasterPass digital wallets to the region, MasterCard is partnering with Bank of East Asia, China Construction Bank, Dah Sing Bank and DBS Bank. With this new partnership, MasterPass is now accepted at more than 250,000 online merchants around the world. It is available to more than 40 million consumers across the Asia/Pacific region. Besides Hong Kong, MasterPass is also available in Taiwan, Australia, Canada, China, Italy, New Zealand, Singapore, the U.K. and the U.S, among others.

“We notice a significant growth in credit card spending for online shopping as customers nowadays shop through various platforms. We are excited to launch BEA MasterPass in partnership with MasterCard, which offers our customers an easy and simple way of payment. We are committed to providing effortless online shopping experiences for our customers,” said Christine Lo, head of the retail lending department at The Bank of East Asia.

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To check out what else is HOT in the world of payments, click here.

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