Seng Heng Bank launches first Chinese prepaid debit card
03 January 2002 | 8207 views | 0
Macau-based Seng Heng Bank Limited and MasterCard International have launched Multi-Link, a new prepaid debit and store-of-value card which claims to be the first in Greater China.
The companies also claim this is the first time that PC terminals can be used to activate cards and implement online value reloading in Asia Pacific.
Multi-Link is an online PIN-based prepaid debit card. Cardholders can use the card to withdraw cash from a network of 634,000 MasterCard/Maestro/Cirrus ATMs and make purchases at more than 4.3 million acceptance locations with Maestro terminals around the world, say the companies.
Individuals do not need a bank account with Seng Heng Bank in order to apply for Multi-Link. Consumers can buy a Multi-Link card and then reload additional funds at designated branches of Seng Heng Bank.
Paul Cheung, group general manager of Seng Heng Bank, says: "For those permanent residents without a credit card, Multi-Link is an electronic wallet for frequent travellers. For temporary Macau residents, it is a substitute product with similar functions. For non-Macau residents who need to transfer funds abroad, it is a handy electronic safe box.”