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  • October 21, 2014
  • Last updated: 8:21pm
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  1. Credit culture sprouts at vegetable market

    Posted Sep 26th 2003, 12:00am by Hannah Lee

    ... The cash culture of the 60-year-old Cheung Sha Wan retail market is facing a revolution with the introduction of a credit card designed specifically for its customers. The market employs ... had to be counted and recounted - wasting time as well as posing a security problem. The new payment card - jointly set up with credit card giant MasterCard - promised to make life easier ...

  2. Regulator signals progress on opening up credit card trade

    Posted Oct 09th 2003, 12:00am by Staff Reporter

    ... Foreign banks receive encouragement that the mainland may act sooner on its WTO commitments China's highly profitable credit card market could be opened up to foreign banks under ... that it was studying the possibility of foreign entry and would issue rules on bank cards in the near future. Although the mainland has agreed to open its financial services industry - including the credit ...

  3. Card-use growth slowing, says Visa

    Posted Aug 19th 2003, 12:00am by Raymond Ma

    ... Growth in Hong Kong's highly lucrative but risky credit-card business has slowed as the market matures, according to Visa International. Statistics show retail sales made through ... sales for Asia-Pacific, also said credit-card retail sales were hit last year as banks cut back on lending in the wake of ballooning personal bankruptcies in Hong Kong. Visa commands most ...


    Posted Aug 05th 2003, 12:00am by Staff Reporter

    ... I would like to see our credit cards redesigned with more functions. For example, after a shopkeeper scans a credit card, the shop's computer should show the limit amount on the card. If the card holder tries to withdraw more than the limit, the card reader should display a warning and the amount overdrawn. That way the bank or card issuer would not have to settle the amount ...

  5. 'Fake credit card gang' is arrested

    Posted Oct 16th 2003, 12:00am by Staff Reporter

    ... A gang suspected to use fake credit cards to purchase luxury goods was smashed by police yesterday. Three men and six women were arrested and a total of 14 fake credit cards and three ... seafood and canned abalone. One took out a credit card to pay, but when staff tried to check the card, she snatched the card away and left without the goods. Minutes later, a man and a woman tried ...

  6. Credit cards in China need cautious view

    Posted Oct 11th 2003, 12:00am by Ken Lo

    ... officially that there is a possibility for foreign banks to issue credit cards on the mainland 'in the near future', and these planners are scrambling to understand the implications and develop scenarios for entry, depending on what the final official rulings are. Generally, there is a widely accepted notion that the demand and supply gap for credit cards is enormous, especially ...

  7. DBS may offer tiered rates on credit cards

    Posted Aug 14th 2003, 12:00am by Raymond Ma

    ... The lender is investigating options to reward good customers DBS Bank (Hong Kong) expects to offer tiered interest rates for its credit-card customers by the end of the year, according ... of a scheme to allow banks to share positive credit information of retail customers. The options being evaluated include a reduction on revolving interest charges and credit-card fees and an increase ...

  8. HK may allow yuan credit cards

    Posted Nov 04th 2003, 12:00am by Christine Chan

    ... Christine Chan Local and Guangdong banking regulators will discuss ways to clear offshore currency stockpiles A pilot scheme to allow mainlanders to use yuan credit cards to pay for purchases in Hong Kong is likely to top the agenda of a meeting between Hong Kong and Guangdong banking regulators this month. The proposed use of yuan credit cards in Hong Kong figures highly ...

  9. HSBC backs down in dispute over $10,000 credit card debt

    Posted Oct 14th 2003, 12:00am by Ella Lee, Stella Lee

    ... HSBC has waived more than $10,000 in unsettled credit card withdrawals for a former customer who accused the bank of sending debt collectors to pursue money she insisted she had not spent. ... a burglary at their home on May 28 when Mrs Stolzenberg lost cash, jewellery and a diary that contained the PIN of her HSBC credit card. While her credit card was not taken in the burglary, she later ...

  10. Credit card charge-offs decline

    Posted Nov 20th 2003, 12:00am by Staff Reporter

    ... Kelvin Wong Hong Kong's credit card charge-off ratio has reached its lowest level since the beginning of last year, according to a survey by the Hong Kong Monetary Authority (HKMA). The credit card lending survey reported a charge-off amount of $1.33 billion in the third quarter, a 1.75 per cent drop to 9.85 per cent on an annualised basis. The delinquency ratio fell to 1.23 per ...




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