MasterCard Turns Heads at Mobile World Congress 2014 Latest

2014 No.1
www.mastercard.com.hk
MasterCard Turns Heads at
Mobile World Congress 2014
Innovative Payment
Technologies Brace
Economic Development
and Social Harmony
MasterCard Unveils "Priceless
Hong Kong"
Extraordinary Privileges
of MasterCard for
Greater China MasterCard
Cardholders in 2014
Latest MasterCard
Consumer Survey Findings
PERSONAL STYLING SESSION
FROM TOP FASHION HOUSES
TURNING THE STREET
INTO YOUR RUNWAY:
PRICELESS
2014 No.1
Contents
01
Foreword
02
Payment Innovations Can Boost
Further Financial Inclusion in China
04
MasterCard Turns Heads at Mobile
World Congress 2014
06
02
05
Innovative Payment Technologies Brace Economic
Development and Social Harmony
06
MasterCard Unveils "Priceless Hong Kong"
07
Extraordinary Privileges for Greater China MasterCard
Cardholders in 2014
08
10
Foreword
Latest MasterCard Consumer Survey Findings
[Mainland] China
MasterCard and ICBC Join Hands to Provide Inbound
Travelers with Surcharge-free ATM Withdrawal Service
MasterCard and Ctrip Sign Memorandum of Cooperation
11
07
12
When this issue of MasterCard Insider
"sophisticated palate", promising to bequeath
reaches you, it is with great pleasure and
"priceless" experiences. That has been the
pride that we will have unveiled our fourth
underlying mission of MasterCard right
"Priceless Cities" in Asia/Pacific --- "Priceless
from the very beginning and naturally what
Hong Kong". Hong Kong, well-established as
"Priceless Hong Kong" hopes to achieve.
an international financial center, a regional
Presenting customers with added value
leisure and entertainment destination and
and ever more prestigious consumption
shoppers' paradise, has long attracted
experiences is what "Priceless Cities" and
affluent visitors from around the world. In
also the World Elite™ MasterCard® are about.
Hong Kong
2013, Hong Kong saw a total of 54 million
Our customers can expect unparalleled services,
Ling Hai
visitors who spent a total amount of US$82
privileges and offers specially selected for them.
MasterCard Releases SpendingPulse® Report for Hong Kong
Retail Sales
Division President, Greater China,
MasterCard Worldwide
billion in the city. What's more, an increasing
These exceptional offers and services speak
number of visitors are from mainland China,
to MasterCard's devotion to helping its business
Taiwan and South Korea; and among those
partners better cater for the preferences of
40 million visitors from mainland China, there
their high-end customers.
MasterCard and Travel Agency Partners Jointly Present Multifold Outbound Travel Benefits
MasterCard, E Sun Commercial Bank, Cathay United
Bank and Far Eastern International Bank Launch "ETC
Co-brand Card"
MasterCard and Bank of Taiwan Jointly Launch Bank of
Taiwan Gold Life Platinum MasterCard
MasterCard, Mega International Commercial Bank
and WORKINGHOUSE Jointly Present the Mega
WORKINGHOUSE Co-brand Card
MasterCard and Union Bank of Taiwan Launch the UBT
Lohas Titanium Card - Frist Credit Card to Offer Cash
Rebate
China's emerging middle class, which has
We have an issue packed full of exciting news
been fueling the city's inbound tourism figures.
and information. It has different stories telling
of MasterCard's different activities and
Taiwan
MasterCard and Taipei Fubon Commercial Bank
Launch Fubon Imperial World MasterCard for Premium
Customers
has been a marked increase in those from
This emerging new middle class is a formidable
quality services a nd brand new products, all
demographic with members aged between
for your reading pleasure.
30 to 40 years. They are well educated, have
08
a strong sense of belonging and security,
We wish you the best in this Spring full of
self-confidence, and see themselves as
vitality!
essential constituents of society. Generally at
the peak of their careers, they have hectic
Ling Hai
schedules to live with, and making time for
Division President, Greater China,
their families is most precious to treasure.
MasterCard
With strong consumption power, they have
discerning tastes for lifestyle and do not
compromise when it comes to service
quality.
12
To please this very well-to-do group, we
have endeavored to create offers for the
MasterCard Insider Newsletter
01
2014 No.1
2014 No.1
contribute to economic development and
civilization. In South Africa, with a population
of 22 million, for example, MasterCard is
assisting the government in issuing more than
10 million biometric payment cards for aiding
social welfare payments and giving more
South Africans the chance to use mainstream
financial services. Prior to that, the country
made social welfare payments in cash which
resulted in a prevalence of problems such as
thef t, robber y and loss. Fur thermore, the
distribution of cash levied heavy costs for the
government. The joint effort we are making
with the South African Government has, for
the first time, given the more than 5 million of
the country's poor a payment card which is
also a financial tool in the practical sense, that
it may be used to shop for daily necessities
while removing concerns about the theft of
cash. Without a debit or credit card before,
they were simply bar re d f rom ac c ess to
mainstream financial services.
To cite another example, The United Nations
World Food Programme has recently announced
that MasterCard's technology will be used in
providing prepaid debit cards to the more than
a million Syrian refugees in Lebanon and
Jordan. Relief payments will not be made in
cash, but directly credited into prepaid debit
cards that their holders may use to buy food
in local stores. This arrangement will see
w a st a g e , c o r r u p t i o n a n d t h e f t s n o t a b l y
reduced in the supply chain.
Payment Innovations Can Boost
Further Financial Inclusion in China
From a wider perspective, I see two driving
forces for financial inclusion: consumers and
innovation.
First published in China Credit Card January 2014 issue
The c onsumpti on season generally falls
around the end of the year, and in China, the
past "11 November" holiday shopping frenzy
definitely unleashed the power of electronic
commerce for the world to see. What also
grabbed my attention was the announcement
on 14 November by Tianhong Asset Management
Co., Ltd that its money-market fund Tianhong
Zenglibao, similar to Yuebao of Alipay, had
grown to exceeding RMB100 billion, making it
the first fund of that size in the history of the
fund industry in China. It was only five months
after Yuebao went online on 14 June.
Currently, in the wealth management product
mar ket, most of the of fers are relatively
expensive requiring investment from several
tens of thousands to several million dollars. It
is obvious that the door to investing in fund
products has very much been closed to the
common consumer. The commercial success
of Yuebao lies very much in its removal of this
barrier, allowing purchases from as little as
o n e d o l l a r. T h e s e p r o d u c t s a t t r a c t t h e
registration of close to 30 million investment
accounts that have bolstered the biggest
standalone fund in mainland China. Tianhong
Zenglibao has so far brought returns totaling
more than RMB788 million to investors and,
for itself, phenomenal business success.
That is the future of business, where there is
no place for the "shady and unscrupulous", but
business pursuits that aim for success as well
as to greater benef it and drive social
02
MasterCard Insider Newsletter
development. It has been proven time and again
in the course of revolutionary developments
that thriving businesses make a prosperous
society. From the steam engine to the birth of
the automobile, the discovery and harnessing
of electricity to the invention of the telephone
and mobile communication network were all
b u s i n e s s- d r i v e n i n n o v a t i o n s t h a t h a v e
contributed to raising living standards across
the world. We have come to another turning
point today - it is the responsibility of those in
the business world to grab the opportunities
presented by the convergence of technologies
in this age of Big Data to contribute to the
well-being of mankind at large.
For MasterCard, the hope and mission to the
company's heart is to promote a "Cashless
Society with innovation. Moreover, we have
been relentless in this journey since we believe
that the businesses of the future can help to
build a fairer and more inclusive world, and
that the payment service sector has a pivotal
role to play in driving this process. MasterCard
has been striving for excellence in areas
including increasing access to better financial
services, making remittance easier for small
and medium enterprises and allowing Chinese
retailers to better relate to the international
market.
Firstly, while businessmen, enterprises and
governments have historic ally c alled the
shots, in the new economy, consumers are
going to play an increasingly important role.
Ling Hai
Division President
Greater China
MasterCard
This change will be due the information revolution
that has put consumers in an age in which
real and vir tual wor lds c oexist w ith data
transparent and readily accessible to them
and in real time too. Massive information is
there to their avail.
The other force that drives financial inclusion
is innovation. Embracing innovation is the
only way to make sure that, in the challenging
living environment today, the minorities and
less privileged can afford to connect with the
new technology-braced society. From the
corporate standpoint, the question is what
defines the fundamental drive to innovation?
And the answer to that question is the ability
to absorb failure. If one who leads an enterprise
knows only to find faults and lay blame when
there are problems, those who work under
him or her will not want to give their best for
fear of making mistakes. With a staf f that
would only do what is safe, an enterprise will
have no innovative spirit to speak of.
Hence, I think enterprises that want to contribute
to financial inclusion must work hard in relation
to the two aforementioned aspects. They
must think like a consumer so as to find out
what his or her real needs are and then to
meet them innovatively, instead of merely
focusing on what they themselves have to sell.
For the payment industry of which MasterCard is
a member, for example, making payments is a
part of the shopping experience and essential
for concluding a purchase. Payment service
providers thus have to zero-in on the merits
of their services and integrate them into the
shopping experience of a consumer, while
also striking a balance between security and
convenience. For instance, some consumers
look for bargain prices for their purchases
and credit points from spending, whereas
higher-end consumers are drawn more to
"experiences that money can't buy". That is
why MasterCard has launched the MasterCard
Traveler Reward program to overcome the
former issue and continues to campaign the
"priceless" concept worldwide, promising
higher-end consumers "priceless" enjoyment
beyond that which money can buy.
As the New Year unfolds, society awaits our
concerted efforts to bring more equality and
inclusion to it. More people are going to live
better lives and the Chinese economy will
c o n t i n u e to a d v a n c e i n h e a l t hy s t r i d e s .
MasterCard is ready to communicate and
work closely with different parties to deliver on
its commitment to the China market: to provide
c o n su m e r s i n t h e c o u nt r y w i t h p ay m e nt
experiences that are more secure, yet fast
a n d e a sy, w h i l e a l s o c o nt r i b u t i n g to t h e
development of the Chinese economy and
society.
About Financial Inclusion
"Inclusion" will no doubt become a buzzword over
the coming years. After experiencing rapid
growth as a result of economic reforms, the
next 10 years will be critical for China as she
seeks to fur ther her social and economic
transformation. The need to push forward the
modernization of the country's overall system,
her governing mechanisms and competence
are key emphases in the "Decisions on Major
Issues in relati on to D eepening Refor ms
Comprehensively", published after the recent
Third Plenar y Session of the 18th Central
Committee of the Communist Party of China.
A new icon has been introduced to this fifth
round of modernization, suggesting the need
for us to build a system even more inclusive.
During this process, as f inancial inclusion
continues to develop, financial services will
become available to more beneficiaries and
also extend to cover the weaker links in social
and economic development.
"Financial inclusion" is a term coined by the
United Nations in 2005. It advocates the provision
of convenient financial services to people in
underdeveloped regions and low inc ome
communities at af fordable prices made
possible by well-built financial infrastructure.
Financial inclusion has several goals to attain:
the first is to ensure that families and corporations
have access at reasonable cost to a wide
range of financial services including opening
accounts, making deposits and payments,
o bt ainin g c re di t and insuranc e, etc .; t he
second requires financial institutions to stay
strong and robust by exercising stringent
internal control and allow themselves to be subject
to market scrutiny and rigorous regulation; the
third is to push for sustainable development of
the financial industry to ensure service longevity,
and lastly to strengthen the competitiveness
of different financial services and thus to give
consumers diverse choices.
We have been working hard for years to boost
financial inclusion all over the world. We know
very well that financial inclusion can help to
improve overall living standards and also
MasterCard Insider Newsletter
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2014 No.1
2014 No.1
MasterCard Valus-added Network Services Column
MasterCard Turns Head at Mobile
World Congress 2014
As a world leader in payment technology,
MasterCard's vision is to build a cashless
society while also increasing financial
inclusion to help to lower the economic cost
of using cash as well as promote
consumption, with the ultimate goal of
allowing more and more people to live better
lives.
As the 2014 Mobile World Congress ended,
MasterCard again announced an array of
"head turning" initiatives and innovations,
including the launch of the MasterPass ™ Inapp Payments, a partnership with Syniverse
to provide consumers on outbound travel with
a safer and more convenient payment
system, and also the acquisition of the mobile
transactions technology provider C-SAM.
MasterPass ™ In-app Payments:
safer and more convenient
payment for consumers
The new mechanism extends the current
browser-based digital service capability of
MasterPass ™ into the mobile app environment
and provides consumers with one secure and
direct connection with their banks. At just a
slight touch of their mobile device embedded
with MasterPass ™, consumers may complete
a purchase without leaving the app environment.
Supported by the highest levels of security
and cryptosystem, the optimum check out
process presents consumers with a seamless
shopping experience.
The MasterCard Syniverse
partnership: makes mobile
consumption more secure
MasterCard and Syniverse have joined hands to
provide consumers making overseas trips with a
payment system that is safer and more
convenient. A pilot scheme of the service is
currently underway: it is available to selected
cardholders at specific geo-locations for making
payments using their mobile devices. The service
aims to reduce the type of fraud common in
cross-border transactions. Consumers can now
be relieved of the inconvenience of their cards
declared void or other payment hiccups. For
financial institutions, they will be able to confirm
that a cardholder's mobile device is there at a
point of sale, hence lowering the risk of illegal
charging as well as declination of a transaction.
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MasterCard Insider Newsletter
Innovative Payment Technologies
Brace Economic Development and
Social Harmony
Sharing and benefiting all at the crux of
financial inclusion and are achieved through
building an effective and all-engulfing
financial system that provides services to
everybody and all different communities,
regardless social strata.
From left to right: Nadim
Khater, Chief Commercial
Officer, Touch; Ann Cairns,
President, International Markets,
MasterCard; Randa Bdeir,
Group Head of e-Payment
Solutions & Card Services, Bank
Audi; and Assaad Kairouz, Chief
Commercial Officer, Alfa.
MasterCard acquires C-SAM:
to create better yet mobile
consumption experiences
MasterCard announced the acquisition of
mobile transactions technology provider
C-SAM. Once C-SAM is integrated into its
operations, MasterCard will be able to speed
up the development and deployment of its
mobile wallets and payment solutions globally,
including the roll out of the MasterPass ™
digital service.
Transcending the boundaries of the
traditional financial system, an inclusive
system aims in particular to give small and
micro-economic entities the opportunity
and rights to access modern financial
services, just like any other customer. For
an inclusive culture to truly thrive and for all
to share the fruits of financial development,
we must first perfect the financial infrastructure,
expand service coverage to all people and
provide convenient services.
With its payment innovations, MasterCard
has helped many countries boost financial
inclusion. In Nigeria, the intelligent identity
card enables Nigerians who do not hold
bank accounts to make deposits or
withdrawals, to receive social security
payments and shop; in South Africa, the
adoption of social security debit cards has
allowed the government to digitize social
welfare payments, lower risks and costs
that draw benefits from its innovative
capabilities. MasterCard shall continue to
craft a future without a need of cash. It will
also support China in her quest to build a
"Xiaokang" (moderately well off) society
and, together with her, ignite the Chinese
Dream.
Using the MasterCard network supported
by the fastest payment processing network
and the safest payment platform to enjoy,
and can have more convenient payment
experiences. But, that's not all: it also means
customers can enjoy the many superior
benefits that MasterCard Value-added
Network Services bring. In this special
column, we shall introduce and explain
the new technologies and services afforded
C-SAM has powered different commercial
mobile payment services in markets including
India, Japan (DNP), Mexico, Singapore (Starhub),
the United States (ISIS) and Vietnam. Its platform
also supports customer-specific offers, loyalty
incentives, banking, bill payment options and
non-financial secure transactions. With expertise
in developing mobile platforms, it can support
MasterCard's work with financial institutions
to bring new, innovative and secure solutions
to the market. Supported by C-SAM's on-device
application and back-end infrastructure, consumers
will be able to use MasterPass ™ both in-store
and online across multiple communications
technologies including NFC, QR/barcodes
and remote checkout.
by the MasterCard network such as standin authorization, security assessment tools
and inControl, which can help you resolve
practical problems encountered when doing
business and also improve cardholders'
spending experiences. Should you have
questions or require more information
about the different value-added network
services MasterCard provides, please
contact your MasterCard Account Manager
or Henry Chen, General Manager, Greater
China at [email protected]
MasterCard Insider Newsletter
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2014 No.1
MasterCard Unveils
"Priceless Hong Kong"
MasterCard Greater
China Collection 2014
On 27 February, 2014, MasterCard unveiled
"Priceless Hong Kong" at the MasterCard
Greater China Forum. Executives of
MasterCard including Vicky Bindra, President,
Asia/Pacific, Middle East & Africa, Ling Hai,
Division President, Greater China, and Sam
Ahmed, Group Head, Marketing, Asia/Pacific,
Middle East & Africa, joined the city's most
trendy and stylish event to witness the first
and perfect marriage between "pricelessness"
and "vogue" which presented riveting new
experiences to MasterCard's business
partners. At the "Priceless Perfume Dinner"
that evening, MasterCard once again let
its peers and consumers feel "the power
of innovation" and proved to them that only
MasterCard knows best what "pricelessness"
means in the hearts of consumers.
A thriving Chinese economy has fueled an
outbound travel craze and related spending.
China currently has the largest travel
consumption population. According to China
National Tourism Administration statistics,
the number of outbound travelers is expected
to exceed 100 million in 2014 translating into
spending reaching more than USD100 billion.
Recent Consumer Purchasing Priorities Travel survey conducted by MasterCard
shows that more Chinese residents have
outbound travel plans for the coming year
and those who traveled abroad in the past
year had spent an average of USD4,000
per person. In the meantime, with consumers
feeling confident about the economies of
Greater China, cross-border consumption
will have strong backing and the payment
industry can expect to see even brighter
prospects.
MasterCard "Priceless Hong Kong" promises its
cardholders from overseas the opportunity
to experience the glamor and charisma of
the "Pearl of the Orient" in addition to exclusive
privileges that will create "priceless"
memories of the city for them to savor.
Hong Kong is the fourth "Priceless Cities"
in the Asia/Pacific joining Beijing, Singapore
and Sydney.
Hong Kong is a long-reputed international
financial center, a regional entertainment
destination and shoppers' paradise. With
the launch of "Priceless Hong Kong", the
city now shows its visitors so much more than
first meets the eye: from close encounters with
polar animals, bespoke indulgence at Michelinstarred restaurants, to a helicopter ride for
one to appreciate the city's magnificent coastline.
The best is all there for visitors to enjoy in
"Priceless Hong Kong".
"Priceless Cities" is an on-going commitment
of MasterCard to present consumers with
a platform for them to appreciate what
world famous metropolises have to
offer and the unmatched privileges that
MasterCard cardholders can enjoy. It has
MasterCard from a brand that celebrates
"priceless" moments to a pioneer brand
that creates "priceless" experiences. As the
newest member on the "Priceless Cities" map,
"Priceless Hong Kong" welcomes MasterCard
cardholders from around the world with a
host of exhilarating "priceless" offers all year
round.
As the newest member of the "Priceless
Cities" league, joining 37 other metropolises
including Singapore, New York, London,
Paris and Beijing, "Priceless Hong Kong"
is ready to delight MasterCard cardholders
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2014 No.1
MasterCard Insider Newsletter
with exclusive privileges and tailored services
across a variety of areas such as shopping,
dining, travel and entertainment, including
more than 100 debut offers and accesses.
"Hong Kong is a natural choice to include
among our 'Priceless Cities' because only
those cities that shine like gems on the
map of the world deserve that title. We
are thrilled to launch 'Priceless Hong Kong'
to give more consumers who love the city
a platform to experience for themselves
MasterCard's 'priceless' propositions. This
program aiming to move hearts will no
doubt add to the sway of Hong Kong as an
international travel destination," said Ling
Hai, Division President, Greater China,
MasterCard.
•famed winemaker Eddie McDougall
based on personal palate preferences and
the investment potential of the wines
By offering exclusive privileges to MasterCard
cardholders in mainland China, Hong Kong
and Taiwan, and tirelessly pushing forward
with "Priceless" concept and innovative
payment solutions, MasterCard has proven
and cemented its leadership in the payment
industry. MasterCard is proud to present
its esteemed cardholders "Greater China
Collection 2014", which not only include
exceptional offers and premium services
from several hundred popular merchants in
mainland China, Hong Kong and Taiwan,
but also exclusive golfing classes, free
world-class hotel accommodation, 'two for
the price of one' flights with China Eastern
Airlines and offers from the trendy eateries
in town. From staying in the best hotels and
savoring exquisite dishes to having pleasurable
flights and medical and rescue assistance,
MasterCard cardholders can look forward to
having bountiful priceless moments.
growing merchant regime comprising champions
in lifestyle and living, airlines, hotels and
restaurants in Hong Kong, China, Taiwan
and other Asia cities, and also online stores.
Furthermore, MasterCard has recently
unveiled "Priceless Hong Kong", crowning
Hong Kong as the second "Priceless Cities"
in Greater China after Beijing. The "Priceless
Cities" initiative endeavors to present MasterCard
cardholders with the opportunities to experience
the mesmerizing charm of cities in the region
plus an ensemble of unique and exclusive
privileges.
In addition to the extraordinary offers in Greater
China, the "MasterCard Traveler Rewards
Program" allows registered cardholders to
immediately start earning reward dollars.
The redemption of 5% equivalent of any valid
spending has no limit and is applicable all
year round. All it takes is for a cardholder
to register for the program and spend at
participating merchants. Any MasterCard
network supported transaction is a valid
transaction and the 5% reward redemption
applies, allowing cardholder to redeem a
range of gift vouchers of equivalent amount
from the redemption merchants. What's
more, the program boasts a constantly
•Private appointment to preview exclusive
and limited edition Burberry collection in
Burberry's VIP Lounge, plus personal styling
consultation and complimentary make-up
service
•Private coaching and demo on how to
prepare abalone by a Michelin-starred chef,
followed by a 'Chef's recommendation dinner'
at Yu Lei
•Diamond MasterClass at Ryder Diamonds
and a private tour of the cream-of-the-crop
diamond house
Some of the privileges and exclusive
experiences that "Priceless Hong Kong"
offers to MasterCard cardholders include:
•The ultimate Peninsula experience, including
an "on top of the world" ride in a Peninsula
helicopter, followed by a culinary journey
at The Bar, Spring Moon, Gaddi's or Felix
at The Peninsula Hong Kong
•A close encounter with penguins and seals
as well as a behind-the-scenes tour of
"Polar Adventure" at Ocean Park
•Access to a unique private wine cellar with
up to 106 bottles of wines, hand-picked by
MasterCard Insider Newsletter
07
2014 No.1
2014 No.1
Latest MasterCard
Consumer Survey Findings
New! MasterCard
Youth Confidence Index
Recently, MasterCard published the
MasterCard Youth Confidence Index, a latest
addition to its research portfolio. The new
index measures the short-term outlook
and confidence levels among youth (18 to
30 years old) in the Asia/Pacific region. In
the 16 Asia Pacific markets polled, youth in
mainland China had full confidence in the
country's future development. At the index
score of 77.5, their confidence level was
the fifth highest in the region and higher
than the 67.8 regional average. It was
slightly lower than the comparative result
(77.7) in the first half of 2013, but still clearly
indicated that young consumers in China
were confident of the country's economic
prospect in the six months that follow.
Youth in Hong Kong and Taiwan, however,
were more conservative in their assessment
of the economy and their confidence levels
fell below the regional average, at 63.3 and
42.2, respectively.
Of particular note is that youth in emerging
markets were those reporting the highest
confidence levels in the survey with those
in Myanmar scoring 92.4, followed by
India (84.0), Indonesia (82.5) and the
Philippines (78.5). Youth in more developed
economies, however, were not so optimistic.
Hong Kong was placed 11th and Taiwan was
last on the list this time.
In the poll, respondents were asked five
questions about their six-month outlook
on the economy, employment prospects,
regular income and present versus anticipated
quality of life in five years. On all the five questions,
youth in China scored higher than the regional
averages, and especially on the aspect of regular
income, their score exceeded the regional
average by 17.1 points, indicative of their
optimism and strong confidence in the
economic prospects of the country. Youth
in Hong Kong scored slightly lower than
the regional averages at large, except for
regular income, which was 5.7 points above
the average. Their Taiwanese counterparts
were pessimistic about the economy (23.0)
and employment prospects (21.0).
By city, Wuhan, named a "new first-tier city"
in China by the Chinese media, scored most
outstandingly at 82.5, surpassing well-known
first-tier cities like Beijing (70.8), Shanghai (78.6)
and Guangzhou (73.4). The score reflected the
fact that those living in Wuhan were very
optimistic about their city. It is likely the city's
strong economic infrastructure, convenient
transportation and sizeable middle-class
population that have fostered this rosy outlook
among consumers there.
MasterCard Index of Women's
Advancement and Index of
Well-Being
Among the 14 markets polled, New Zealand
scored the highest (77.9) followed by
Australia (76.0) and the Philippines (72.9).
Taiwan (65.9) came fifth in the Asia/Pacific
and first in Greater China, whereas Hong
Kong and mainland China were placed
seventh and eighth, respectively. In addition,
The Women's Advancement Indexes of
neighboring South Korea (50.0) and Japan
(48.3) were only slightly higher than India's
(39.2), reflecting room for improvement in gender
equality in those markets. The MasterCard
Women's Advancement Index, which covers
three main areas, namely employment,
education and leadership, measures the social
status of women in Asia, the Middle East and
Africa. With the base line for measurement
at 100 indicative of gender equality, a score
higher than 100 means the ratio of women
exceeds that of men and vice-versa when
the score is lower than 100.
A noteworthy finding is that there are more
women with higher education than men in
mainland China (111.4), Hong Kong (105.8)
and Taiwan (106.5). Furthermore, the indexes
of women holding management positions
in government in mainland China (47.6) and
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MasterCard Insider Newsletter
Taiwan (51.3) have risen markedly, although
the score of Hong Kong (30.3) was much
the same as last year's in that aspect.
The poll also found that the employment
index of women in mainland China (83.0)
trending down, whereas that of Hong
Kong women (109.5) was outstanding, as
in the year before.
however, were relatively optimistic in their
ability to "Keeping Up with the Bills" (69.7)
and "Saving for Big Purchases" (60.5),
speaking to their independence and selfconfidence.
New MasterCard
Index of Well - Being
In 2014, MasterCard launched another new
index - MasterCard Index of Well-Being that covers five main indexes reflecting
respondents' attitudes on Work and Finance,
Safety from Threats, Personal and Work
Satisfaction, Personal Well-being and
Sense of Empowerment. Zero indicates total
pessimism, 100 designates total optimism with
a score of 50 indicating a neutral stance.
The survey found that Taiwan, which scored
well in the Women's Advancement Index,
had a well-being index (55.0) third last
among 16 countries in Asia/Pacific, slightly
higher than South Korea (54.9) and Japan
(53.6). Among the five categories, women
in Taiwan were the most pessimistic (52.3)
in terms of Work and Finances, noticeably
lower than women in mainland China (71.1)
and Hong Kong (70.0). Women in Taiwan,
MasterCard Insider Newsletter
09
2014 No.1
2014 No.1
China
MasterCard and ICBC Join Hands to
Waive ATM Cash Withdrawal Fees for
Visitors to China
MasterCard has recently joined hands with
ICBC, one of the four state-owned banks in
China, to waive ATM cash withdrawal fees
for inbound travelers when they use their
MasterCard card across China. Starting
from today, cardholders of MasterCard
whose cards were issued outside China
can use their cards to withdraw money at
any ICBC ATMs in the country and will not
be charged a handling fee. MasterCard
cardholders can truly travel without concerns
of additional costs when withdrawing money
overseas. The biggest bank in China, ICBC
has the largest number of ATMs in the
country and is the first Chinese bank with
ATMs that accept EMV-chip cards, giving
consumers benefits as well as security.
According to the China Inbound Travel
Development Annual Report 2013, which is
jointly published by the China National
Tourism Administration and China Tourism
Academy, the number of inbound travelers
in China has been rising consistently. With
this collaboration, ICBC will upgrade about
60,000 of its ATMs all over the country to
offer multi-language menu options, making
inbound travelers really feel at home.
"MasterCard is committed to working with
its business partners to continuously
present innovative products and services
that meet cardholders' travel requirements.
ICBC has been a long-time partner and
before this latest joint effort, we have
together launched the ICBC Global Travel
multi-currency MasterCard to offer consumers
convenience over the world when they
travel. This current offer helps remove
concerns of travelers to China about
additional fees and accommodates
international standard EMV-chip cards,
allowing international travelers to enjoy
'priceless' experiences in China without any
worry," said Dennis Chang, head of China,
MasterCard.
MasterCard and Ctrip Sign
Memorandum of Understanding
MasterCard has recently signed a Memorandum
of Understanding with the [all-round/integrated]
travel service agency Ctrip. The two parties
agreed to join force in brand promotion and
initiatives in the payment arena. Riding on
programs such as co-brand card, travel
offers and digital wallets, the two parties will
work to promote innovative electronic payment
applications related to travel consumption.
According to the agreement, the two parties will
expand co-branding coverage from credit cards
to debit cards, which will enable cardholders to
enjoy priceless shopping and travel experiences
empowered by MasterCard's worldwide network.
MasterCard's cross-border payment solutions
with the aim of providing consumers with better
and more efficient checkout experiences.
"China is the world's largest travel spender.
Our partner Ctrip runs a strong travel service
platform, while we at MasterCard are strategically
focused on network and electronic payment
development, which is an apparent market trend.
We look forward to deepening the collaboration
with Ctrip, using mobile payment as a means
to speed up the evolution of commercial practice
and provide consumers with better travel and
shopping experiences, supported by secure
& convenient payment solutions," said
Dennis Chang, head of China, MasterCard.
Hong Kong
MasterCard Releases SpendingPulse®
Hong Kong Retail Sales Report
MasterCard Advisors, a unit of MasterCard
announced the launch of SpendingPulse®
in Hong Kong, a report that provides a
macroeconomic analysis of retail performance
and spending. The report leverages purchase
information across all forms of payment credit cards, cash and check - to offer
detailed insight into consumer spending
trends. It provides an early overview of
market indices to help retailers, investors,
banks and government agencies in their
decision-making processes.
The first SpendingPulse report for Hong
Kong showed a 6.4% growth year-onyear in retail sales during the month of
December. This performance was driven
primarily by an increase in health and
beauty, and clothing.
so, while we expect to see that reflected in
retail sales next month, spending will not
be at the robust pace that we saw preglobal recession."
As one of the world's leading international
financial centers, Hong Kong has ranked
#1 as the freest economy in the world for
20 consecutive years. As a well-known
destination for travelers from around the
world, shopping by tourists contributes
significantly to the total retail sales in Hong
Kong. "Spending by mainland Chinese
visitors is an important driving force
underpinning the growth of retail sales in
Hong Kong, so we'll be keeping an eye on
how slowing GDP growth impacts spending
in the coming months," added Quinlan.
"We've seen some steady growth in spending
in recent months, which is promising as we
look ahead to the Chinese New Year, beginning
January 31," said Sarah Quinlan, Senior Vice
President, Market Insights for MasterCard
Advisors. "This is the most important social
and economic event of the year for China
MasterCard and Tour Agency
Partner to Present Multi-fold
Outbound Travel Benefits
MasterCard and Hong Tai Travel are together
providing MasterCard cardholders a host of
online shopping privileges, including 78% discount
(for the first 150 MasterCard cardholders)
for four-day independent travel to Taiwan, 25%
discount for those who book nine-day tour on
direct flight to Turkey, etc.
Between 10 December 2013 and 31 December
2014, MasterCard and Miramar Travel are
offering multi-fold privileges exclusively to
MasterCard cardholders who book long-haul
tours online on specified dates. Those tours
cover destinations including Australia, New
Zealand, South Africa Turkey, Morocco, Dubai
and Tunisia.
And from Wing On Travel, MasterCard
cardholders on independent travel can enjoy
exclusive discounts for designated outbound
tours-four-day to Bangkok, two-day to Macau,
etc.
Ctrip and MasterCard will also join hands to
explore applications of innovative payments.
They will cooperate in promoting and improving
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MasterCard Insider Newsletter
MasterCard Insider Newsletter
11
2014 No.1
2014 No.1
Taiwan
MasterCard, E Sun Commercial Bank, Cathay
United Bank and Far Eastern International Bank
Launch“ETC Co-brand Card”
With the electronic road pricing (ERP)
system soon to be adopted in Taiwan,
MasterCard, E Sun Commercial Bank,
Cathay United Bank and Far Eastern
International Bank have come together to
issue an 'ETC Co-brand Card'. To capture
the attention of the six million car owners
in Taiwan, the banks spared no effort in
offering cardholders all sort of benefits
including debut use gifts, discount for gas
refills, first top-up rebate, free parking,
road rescue service and cash rebates for
spending. MasterCard hopes the ETC card
empowered with transportation payment
MasterCard and Bank of Taiwan Jointly Launch
Bank of Taiwan Gold Life Platinum MasterCard
As the joint effort of MasterCard and Bank of
Taiwan, the Bank of Taiwan Gold Life Platinum
MasterCard, the first card in Taiwan which can
be used for shopping, making deposits and
investment, and managing one's finance
has been launched. For every 200 spending
points accumulated on the card, cardholders
can exchange for gold points and put into their
gold passbooks, allowing cardholders to
spend while gaining practical added value.
The gold passbook is a unique Bank of
Taiwan offer designed to meet the diverse
needs of consumers and giving back to them
in a way that stands different from its peers'
function to become a favorite credit card
among consumers, like the EasyCard,
and bring more business opportunities to
the banks.
afford. Cardholders may use their spending
points to exchange for gold and decide when
to deposit their gold points into their passbooks
or exchange for gold, promising them flexibility
in capital management. The new card suits
the preferences - be it for gold, gold passbooks
or gold investments- of the bank's customers
of all ages and genders. On top of gold points,
cardholders are also entitled to many standard
benefits including free parking at airports,
travel insurance, emergency rescue service,
etc.
MasterCard, Mega International Commercial Bank
and WORKINGHOUSE Jointly Present the Mega
WORKINGHOUSE Co-brand Card
MasterCard and Taipei Fubon Bank Launch Fubon
Imperial World MasterCard for Premium Customers
MasterCard and Taipei Fubon Bank are
presenting the bank's selected top
customers with the new Fubon Imperial
World MasterCard. Cardholders can
enjoy high cash rebate for spending in
Taiwan and discounts for parking in urban
areas and at airports, and also free airport
pick up/drop off chauffer service up to six
times a year. Furthermore, they may use
the VIP lounges in more than 600 airports
worldwide, plus enjoy privileges courtesy
of famed golf courses and exclusive dining
offers from top eateries, and round-theclock global concierge service, etc.
MasterCard is dedicated to providing its
premium cardholders with the finest
services befitting their VIP status anywhere,
anytime.
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MasterCard Insider Newsletter
MasterCard, Mega International Commercial
and WORKINGHOUSE have together
launched the Mega WORKINGHOUSE Cobrand Card. In addition to WORKINGHOUSE
Gold Card membership privileges, holders
of the new co-brand card can also enjoy
an exclusive 10% discount shopping at
the WORKINGHOUSE stores. They can
also gain triple bonus points from shopping
at WORKINGHOUSE or overseas, six
interest-free and handling chargefree installments for bills of NTD3,000 or
above and two half-price movie tickets
for extra purchase of NTD3,000 or above
that month. MasterCard is always there
to touch the hearts of its cardholders with
novel shopping experiences.
MasterCard and Union Bank of
Taiwan Launch the UBT Lohas
Titanium Card - Frist Credit Card
to Offer Cash Rebate
MasterCard and Union Bank of Taiwan
have jointly unveiled the second generation
UBT Lohas Titanium Card - the first in
Taiwan to offer a direct cash rebate for
spending made on the card. Cardholders
can enjoy 0.7% cash rebates for shopping
online and at dedicated shopping malls as
well as a rebate of 0.5% for regular new
spending. When the total rebate reaches
NTD50, he or she may request that the
amount be deducted from the next credit
card bill, and total cash rebate can be as
high as 40%. Carefree shopping experiences
are what MasterCard vows to give its
cardholders.
MasterCard Insider Newsletter
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