bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

authorLocations

authors

corrections

sponsorType

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

quizIds

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

paywallTypes

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

David Evans

Hang Seng Bank has launched an e-shopping MasterCard, a form of credit card that has no physical presence.

 The virtual credit card, a first for local cyber-shoppers, enables holders to shop on-line without the need to shuffle through their plastic cards.

 Hang Seng's assistant general manager and head of credit-card business, William Leung Wing-cheung, said subscribers would receive a secure electronic transaction (SET) certificate and an electronic wallet to be installed on their personal computers.

 'The Hang Seng e-shopping MasterCard is the bank's latest e-initiative . . . [and] will offer convenience, privacy and security to our credit-card members,' Mr Leung said.

 For secure credit-card transactions on the Internet, merchants and customers are required to obtain SET certificates.

 The identifications of both the merchant and customer are verified and authenticated through the MasterCard network.

 Both parties can then be assured that the transaction is genuine and secured.

 There is no need for a physical card and the card-member's information is not disclosed to the merchant.

 According to Mr Leung, 10 per cent of Hong Kong's Internet users shopped on-line last year.

 He said average monthly spending was $700.

 A maximum credit limit of $3,000 would provide additional security for the customer in the event of card information being stolen.

 'We are confident that this service will be welcomed by customers and merchants,' Mr Leung said.

 The service could be used for purchasing from merchants outside Hong Kong, or by cardholders when travelling overseas.

 Danny Cheung, vice-president and business manager, Hong Kong, MasterCard International, said the virtual-card programme provided an excellent opportunity for his company to strengthen its e-commerce platform.

 'SET [is] generally regarded as the most secure standard today,' he said.

  In December, the bank introduced an Internet payment-gateway service enabling secure revenue collection by on-line retailers.

 The service resembles an on-line version of a card-reading terminal used in shops.

  The facility allows retailers on the Internet to authenticate on-line transactions and to verify customers are using valid credit cards.



Hang Seng Bank launches virtual credit-card service