Cathay, Standard Chartered Bank and Mastercard Launch New Range of Co-Branded Credit Cards
Cathay, Standard Chartered Bank (Hong Kong) and Mastercard have launched a new range of co-branded credit cards. The new cards include the Standard Chartered Cathay Mastercard, as well as Priority Banking and Priority Private options.
On Thursday (July 8, 2021), Cathay Pacific announced the launch of three new co-branded credit cards in partnership with Standard Chartered Bank (Hong Kong), Cathay and Mastercard. The range of cards include the Standard Chartered Cathay Mastercard Credit Card, the Standard Chartered Cathay Mastercard Credit Card – Priority Banking, and the Standard Chartered Cathay Mastercard Credit Card – Priority Private, recognizing different banking segments. The cards will allow Cathay Pacific customers to earn Asia Miles faster, complementing existing earning opportunities by using banking services from Standard Chartered. The new card range replaces the Standard Chartered Asia Miles Mastercard Credit Card launched in 2016, while offering more prestigious privileges, as well as many new travel and lifestyle features.
In Thursday’s announcement, Standard Chartered Bank’s Head of Consumer, Private and Business Banking – Hong Kong, Lay Choo Ong, said,
“The remarkable success of the previous co-branded card is a great example of our strong partnership with Cathay and Mastercard. The new Standard Chartered Cathay Mastercard Credit Cards, which go beyond purely mile-earning cards, have combined the privileges of Priority Banking and Priority Private with credit cards, making it the most unique proposition on the market that offers a wider range of shopping, travel, life enjoyment and banking services privileges.
“Although the pandemic has delayed many people’s travel plans, customer loyalty in earning miles through credit card transactions remains high. The average annual spending of the previous co-branded card was 20% higher than the market average, while the Active Ratio from February to April this year remained at a high level of 90%. These statistics reflect the fact that many of our customers are taking advantage of this period to accumulate miles to get ready for their next journey. In the meantime, Priority Banking and Priority Private cardholders can enjoy more exclusive wealth management services at the bank, according to their banking segment.”
Also commenting on the launch of the new co-branded cards, Cathay’s General Manager, Customer Relationship and Retail, Paul Smitton, said,
“We are thrilled to unveil in Hong Kong today the Standard Chartered Cathay Mastercard Credit Cards, the first of many exciting new customer offerings under ‘Cathay’ – a new premium travel lifestyle brand that aims to bring all we love about travel together with everyday lifestyle. ‘Cathay’ brings together Cathay Pacific, Marco Polo Club and Asia Miles all in one place, simplifying the way our customers interact with us, including how they earn status and use miles. The Standard Chartered Cathay Mastercard Credit Cards allow customers to enjoy the best Asia Miles earn rates in town, and their miles won’t expire as long as they earn or redeem at least once every 18 months. They can use their miles to redeem flights or purchase revenue tickets on Cathay Pacific and HK Express with Miles Plus Cash, as well as shop for our numerous curated products.
“These new credit cards represent the further strengthening of our relationship with our longstanding partners, Standard Chartered and Mastercard, to provide more benefits for our customers. The new card epitomizes the best of premium travel experiences, providing a full range of privileged banking services and Mastercard’s comprehensive acceptance network for our members to earn and use their miles with greater ease. We will be entering into a new 10-year global partnership with Mastercard on co-branded credit cards and with Standard Chartered in Hong Kong for both co-branded credit cards and earning miles through direct banking. We look forward to further building upon our collaboration with our partners through this exciting development today.”
Standard Chartered Bank, Cathay and Mastercard are committed to environmental protection and sustainable development, and therefore, the new card design adopts carbon-neutral materials, with the aim of offsetting carbon emissions during the production process.
Source: Cathay Pacific