Hang Seng Bank, MasterCard offer corporate card with insurance

Hang Seng Bank is joining forces with MasterCard International to launch a corporate-card programme aimed at encouraging card usage and helping companies to improve control of expenses.

Credit-card centre head William Leung Wing-cheung said royalty schemes such as bonus points or air miles had undermined corporate cards.

Previously, they had been a popular and efficient means of controlling expenditure.

Now, however, employees tended to use their personal cards and then seek reimbursement so they could build up royalty benefits.

This defeated the purpose of using corporate cards to keep better track of company expenses.

Mr Leung said customers using Hang Seng's new corporate card could still enjoy royalty benefits if they also held Hang Seng personal credit cards.