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  • July 15, 2014
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  1. Business - China Business - CREDIT

    Chinese regulators keep foreign credit card issuers on tight leash

    Posted Jul 14th 2014, 03:09am by DON WEINLAND

    ... Don Weinland don.weinland@scmp.com International credit card companies face obstacles on the mainland as regulators uphold restrictions on overseas firms Foreign card issuers on tight leash in China Creative branding will only take foreign credit card issuers on the mainland so far, experts said, so long as Beijing upholds strict controls on outside players in the domestic ...

    http://www.scmp.com/business/china-business/article/1553547/chinese-regulators-keep-foreign-credit-card-issuers-tight
  2. News - World - Russia-US relations

    Moscow accuses US of abducting Russian MP’s son over US$1 million credit card hacking fraud

    Posted Jul 09th 2014, 10:07am

    ... credit card numbers Moscow accused Washington on Tuesday of abducting the son of a Russian lawmaker who was arrested in the Maldives on suspicion of being one of the world’s most prolific traffickers of stolen credit card details. A Russian legislator who admitted to being the suspect’s father expressed fear that Roman Seleznev, who is now being held in the American territory of Guam, ...

    http://www.scmp.com/news/world/article/1550151/moscow-accuses-us-abducting-russian-mps-son-maldives-over-1-million
  3. Business - Banking & Finance - BANKING

    Big bank battle is on the cards

    Posted Jun 05th 2013, 12:00am by KANIS LI

    ... Kanis Li kanis.li@scmp.com The city's five largest lenders are fighting to keep their customers as outsiders take them on in areas like credit cards and mortgages Big bank battle ... those from the mainland. Credit card and mortgage services are already the two main areas these rival banks compete in, but industry watchers warn that profits will not come easily. Retail ...

    http://www.scmp.com/business/banking-finance/article/1253538/big-bank-battle-cards
  4. Business - Money - CREDIT CARDS

    The (low) price of credit card loyalty

    Posted Mar 04th 2013, 12:00am by Nicky Burridge

    ... Nicky Burridge What promotions and gifts are attached to each credit card? We look at the main incentive plans and find that the offerings can be a bit thin The low rewards of loyalty Credit cards do more than offer credit. They radiate aspiration- the top ones come with names like Ultima, Platinum and Infinite- and they come with perks. And it is for the perks that people ...

    http://www.scmp.com/business/money/spending/article/1173357/low-price-credit-card-loyalty
  5. Business - Banking & Finance - REGULATION

    PBOC halts plans by Tencent, Alibaba for virtual credit cards

    Posted Mar 14th 2014, 02:39pm by Victoria Ruan and Sophie Yu

    ... to virtual cards hits Tencent News that the People's Bank of China had halted plans by mainland internet giants Alibaba and Tencent to offer virtual credit cards sent Tencent shares tumbling yesterday, along with those of partner China Citic Bank. The central bank suspended the introduction of payment products based on virtual credit cards and payments made through so-called Quick ...

    http://www.scmp.com/business/china-business/article/1448531/tencent-alibaba-hit-pboc-order-halt-mobile-payments-using
  6. Business - Money - CONSUMER FINANCE

    Why don't banks give credit where it is needed?

    Posted Jan 21st 2013, 12:00am by JENNI MARSH

    ... working in Japan, HSBC would only offer the couple a joint credit card with a limit of HK$40,000, despite the balance on their savings account being 10 times that amount. "The limit ... ones. A growing number of Hong Kong expats with unblemished credit records, little debt, permanent employment contracts and respectable salaries find it difficult to obtain a credit card at all- ...

    http://www.scmp.com/business/money/spending/article/1131041/why-dont-banks-give-credit-where-it-needed
  7. News - Hong Kong - COURTS

    Model jailed three years for spending HK$340,000 on lover's credit card

    Posted Oct 31st 2012, 12:00am by Jennifer Cheng

    ... Jennifer Cheng jennifer.cheng@scmp.com Man buys 58 iPads without shops realising that his name isn't 'Yvette' Model gets jail for use of lover's credit card A male model was jailed for three years yesterday for spending HK$340,000 on his lover's credit cards to buy iPads by the dozen and other gadgets, which he then resold. Koo Chi-nga, 35, had ...

    http://www.scmp.com/news/hong-kong/article/1073415/model-jailed-three-years-spending-hk340000-lovers-credit-card
  8. Business - Money

    HSBC to refund credit card cash withdrawal fees for UnionPay card users

    Posted Jun 22nd 2013, 02:24am by Anna Healy Fenton

    ... customer complaints, HSBC has agreed to refund the fees if you have no option but to use your credit card to get cash overseas. To recap on the ongoing saga of HSBC’s change to chip ATM cards ... banking headquarters refused to believe their own manager was who he said he was, so no dosh.         It goes on and on. HSBC says you can still access the Cirrus network via your credit card ...

    http://www.scmp.com/business/money/wealth/article/1266355/hsbc-refund-credit-card-cash-withdrawal-fees-unionpay-card
  9. News - Asia - SOUTH KOREA

    South Korean finance firms face 3-month ban after credit-card breach

    Posted Feb 03rd 2014, 01:44am by Bloomberg

    ... Bloomberg in Seoul Finance companies face three-month ban after credit-card breach South Korean regulators will order three consumer finance companies to suspend operations for three months as early as February 14 after the nation's biggest theft of data on credit-card holders, an official said. The Financial Services Commission planned to notify the card units of KB ...

    http://www.scmp.com/news/asia/article/1419333/south-korean-finance-firms-face-3-month-ban-after-credit-card-breach
  10. Business - Money

    Truant school kids jet off to the sun- with their own credit cards

    Posted Jan 26th 2014, 04:30pm by Anna Healy Fenton

    ... shortened their lovely holiday. If I was the parent of one of these 16-year old lovebirds who bought HK$40,000-worth of air tickets and a five star hotel stay with a credit card I’d trusted them ...   Call me old fashioned but… I would take a very dim view of everyone involved, starting with myself. For trusting them with a credit card and not putting a sensible limit on it. I’d be even ...

    http://www.scmp.com/business/money/wealth/article/1414187/truant-school-kids-jet-sun-their-own-credit-cards

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