Bank of China Issues On-line Credit Card

Bank of China (BOC) announced on Friday the official issue of the first virtual MasterCard that is designed for online purchase in Hong Kong, to meet the demand of the rapid expansion of e-commerce.

Different from the traditional credit card, the BOC Intown Virtual MasterCard contains only a card number, private pin and electronic certificate for the purpose of online transaction. Cardholders do not have to present the physical card in purchase.

Annual fee is waived for the Virtual MasterCard, according to the BOC, adding that card holders can purchase anything in the Internet shops that accept MasterCard.

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