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Hassle-free banking for expats

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Standard Chartered

Ready to go cashless?

PUBLISHED : Thursday, 15 February, 2018, 10:03am
UPDATED : Thursday, 15 February, 2018, 10:03am

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Across large and small shopping malls, most merchandises and services can now be paid without notes and coins changing hand. Well before the term fintech was coined, Hong Kong was indeed one of the pioneers in cashless payment with the introduction of Octopus card, literally a contactless debit card, in 1997.

As fintech continues to evolve, credit card and smartphone have also been transformed into contactless payment instruments. Apart from the Octopus card now widely used for petty cash payment, an increasing number of retailers now also accept payment with paywave or mobile wallet.

Slim your wallet

There are in fact a quite few hacks you might find useful to make the most of your Octopus card, smartphone and Standard Chartered credit card.

Perhaps combining ATM card and credit card into one is the least known trick, which is the first step to reduce your wallet thickness. Standard Chartered ATM and credit cardholders can go to any branch and ask for both to be combined. When done, your ATM and credit cards will be combined into one card.

Auto Octopus card top up

Sick of queuing at an MTR ticket machine or convenience store to recharge your Octopus card every time it runs out of stored value? Actually you can have your Octopus card topped up automatically when the stored value is used up.

It is easy to apply for Octopus Automatic Add Value Service (AAVS) via Standard Chartered credit card, whether you prefer doing it online, over the phone, or mailing an application form. Apart from earning 360° Rewards Points, Asia Miles™ or CashBack for topping up your own Octopus card, you can also multiply the benefits by applying for AAVS on behalf of three supplementary credit cardholders under your credit card.

Pay with your phone

Another great invention in the fintech age is the flexibility to have the credit card virtually attached to a smartphone with an added layer of security.

Major mobile payment system­s have already been introduced in Hong Kong. These systems enable you to make contactless payments via the digital wallet in your phone.­

First, register your existing Standard Chartered credit card with the mobile wallet app provided, e.g. Apple Pay, Android Pay, Samsung Pay, etc. Next time when it’s your turn at a cashier, hold your phone near a contactless reader, select which card you want to pay with, then enter the PIN or authorise the transaction with fingerprint or face recognition.

After every successful transaction, you'll receive a notification that includes the name of the merchant, and transaction amount of the purchase made. You can attach multiple credit cards to your mobile wallet. This way, you can have all your cards with you. You won’t miss out on any promotion that a particular card might be offering at the time.

Standard Chartered further offers you a flexible way in using your personal accounts or credit cards for online shopping and peer-to-peer payment. Alipay account holders, who enjoy shopping on Taobao or Tmall, can top up their Alipay HK accounts through online or mobile banking, so you can shop and pay on Taobao or Tmall directly with Hong Kong dollars without paying any service charge.

What you need to do is just retrieve an Alipay Account Top-up ID from the Taobao app, and add that ID as the top-up Alipay account in your mobile/internet banking account. When done, just click "To Alipay Account" in the mobile platform, then fill in the top up amount and description to proceed.

Pay more, earn more

There are many different types of credit cards you can choose from at Standard Chartered, with each offering different rewards depending on your card spending and lifestyle—such as directly earning mileage, rewards points or simply cash rebate. The more you pay with your Standard Chartered credit card, the more Asia Miles, Rewards Points and CashBack you can earn through the multiple rewards programmes.

You will earn one Asia Miles for every HK$4 spent on dining, online and overseas merchandises or services, or HK$6 spent on any other categories with your Standard Chartered Asia Miles Mastercard. Mileages will be automatically credited to your Asia Miles membership accounts with no mileage conversion fee.

If cash rebate is your only goal, then the new Simply Cash Visa Card is a better choice. It allows unlimited year-round cash rebate of up to 2%.

Welcome to the fintech world.

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