Credit Cards in Hong Kong

General information of Credit Cards Comparative of Credit Cards The future of Credit Cards in Hong Kong

Group 4

Visa

The blue and gold in Visa's logo were originally chosen to represent the blue sky and golden-colored hills of California, where Bank of America was founded

The origin of Visa

Earlier from ----BankAmericard Invented by Bank of America

BankAmericard A card which make the holder to have a d

eferral payment. Bank which issue BankAmericard pay the

money for the merchant first. This type of payment become popular.

Reason for popularity

Merchant ------ can receive the money immediately

Cardholder ------can pay the balance later and enjoy installment

Bank ------ can earn the commission from each transaction and earn the interest from late payment penalty

More and more merchant accept BankAmericard payment.

The business sector of credit card grow fast.

Other bank thus want to issue BankAmericard as the profit is desirable

Other banks in America choose to join the Bank of America to form an credit card association.

A member of the BankAmericard Association can issue BankAmericard

In 1976, BankAmericard is renamed as VISA

Transition of Credit Card

2004 ------ Sherman Antitrust Act

The same service provided by different corporation

Your mobile phone: Sony Ericsson W800i

Competitiveness of MasterCard between banks

Types of card Service Charge Exclusive benefit>>>INCREASE MARKET SHARE>>>EARN MORE PROFIT

Dahsing V.S. Standard Chartered

Types of cards

^^(Dahsing) Hello Kitty credit card SNOOPY credit card^^(Standard charactered) Smartone smart credit card ESPRIT Smart Credit Card

Service charge

Dahsing vs Standard charactered

1. Annual free ?2. Annual Interest rate?3. No-interest grace period?4. Overlimit fee?5. Late fee?

Exclusive benefit

Standard Chartered

High credit limit Lifetime Bonus Points Program Global Concierge Service Asia Miles Travel Reward programme Free Travel Insurance of up to HK$ 4,000,

000

Dahsing Bank Bonus Point Scheme Interest-free installment Convenient Octopus Automatic add-valu

e Service Credit Card “ Star Rewards Program”

www.HONGKONGCARD.com

HSBC V.S. BANK OF CHINA

Type of cards

^^(HSBC) i CAN credit card RMB credit card^^(Bank of China) U point credit card y not credit card

HSBC V.S. BANK OF CHINA

1. Annual free ?2. Annual Interest rate?3. No-interest grace period?4. Overlimit fee?5. Late fee?

Exclusive benefit (HSBC) Flexible limit change Manage your account online All-in-one statement Octopus Automatic Add-Value Service Interest-free repayment period

Exclusive benefit (Bank of China)

Receipts=Cash Get together for big discounts Combine gift points Email updates

Who Invented Credit Card?

What do the numbers on credit cards mean?

How come there’s a stripe behind a credit card?

The Future of Credit Cards

Hong Kong Macau China

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