Octopus Cards, in collaboration with MasterCard, has launched a new virtual prepaid Mastercard in Hong Kong.
The new virtual card, dubbed O!ePay Mastercard, is designed for online shopping.
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To use the virtual card for shopping, the users are required to recharge the Octopus e-wallet payment account. The e-wallet is tied with the virtual card enabling online shopping.
The new O!ePay Mastercard is said to offer swift and convenient payment option to the customers.
Octopus sales and marketing director Rita Li told news agency Xinhua that the users can receive the virtual prepaid card directly in the app. Also, they are not required to submit any additional identify proof to procure the card.
The company expects that the new offering to be popular among the younger generation who frequently shop online.
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By GlobalDataThe service is also targeted at people who do not prefer to use their credit card for online transactions.
Octopus Cards, a contactless stored value card, is a wholly owned subsidiary of Octopus Holdings. The people of Hong Kong use it for various purposes including travel, shop and dining.
In January this year, Mastercard and Wing Limited Specialised Bank (Wing) rolled out a new virtual prepaid card in Cambodia.
The offering can be used in the local stores as well as for online shopping from merchants across globe.
