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  • MyTheresa.com takes aim at Korea

    MyTheresa.com takes aim at Korea

    European luxury online retailer MyTheresa.com is launching a Korean-language site.

    Selling luxury womenswear and accessories from such brands as Chloe, Gucci, Miu Miu and Stella McCartney, the e-tailer says it has seen “huge growth potential” in South Korea.

    “The Korean luxury market is moving quickly to digital. Ever since our first activities in Korea we have seen a massive consumer shift to digital and a triple-digit growth in the market,” says MyTheresa.com president Michael Kliger.

    The online fashion destination’s Korean website will offer free exchanges and returns within 30 days, including a free collection service, as well 72-hour deliveries. It aims to offer a more personalised service with a Korean-speaking customer care team.

    Korean customers will be able to pay in euros if using American Express, MasterCard or Visa.

    Launched in 2006, MyTheresa.com was acquired by American company Neiman Marcus Group in 2014. The German multi-brand retailer delivers to more than 120 countries with websites available in Arabic, Chinese, English, French, German and Italian.

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  • Apple Pay makes its debut in Hong Kong

    Apple Pay makes its debut in Hong Kong

    Visa, MasterCard and American Express have all introduced support for Apple Pay in Hong Kong.

    Holders of credit and debit cards from the three companies issued by Bank of China, DBS Bank, HSBC, Standard Chartered, and Hang Seng Bank are now able to take advantage of the mobile contactless payment service.

    Apple’s Hong Kong website states that support for Bank of East Asia and Tap & Go cards is also “coming soon.”

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    In Hong Kong, Apple Pay is currently available in Apple’s own stores, as well as those from 39 other major chains, including 7-Eleven, APITA, KFC, McDonalds, Starbucks and Genki Sushi. It is also supported by a number of apps including Cathay Pacific, Deliveroo and Foodpanda. Support for Uber is coming soon.

    Apple Pay’s contactless payment technology aims to improve security by not storing credit card numbers on the device or sending credit card details to merchants. Payments can be authorized using the Touch ID fingerprint authentication system.

    Apple Pay is supported by the iPhone 6s and newer, the Apple Watch paired with an iPhone 5 or newer, as well as the iPad Pro, iPad Air 2 and iPad mini 3 and 4.

    “In Hong Kong contactless payments have become a necessity for everyday life, consumers and retailers realize the greater convenience and faster checkouts for busy people on the go,” Visa Hong Kong and Macau country manager Caroline Ada said.

    She said research from the company shows that 77% of respondents are willing to try out or adopt new ways of paying, and 78% are ready to use smartphones as the device for making everyday payments.

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  • Apple Pay Launched in Hong Kong With American Express, Mastercard Support

    Apple Pay Launched in Hong Kong With American Express, Mastercard Support

    Apple Pay has arrived in Hong Kong, allowing the Apple users to use the company’s mobile payment system.

    Apple’s payment system has been rolled out to American Express, Visa and MasterCard cardholders in Hong Kong. Other participating banks are Standard Chartered, DBS, Hang Seng Bank, HSBC, Bank of East Asia, and BOC Credit Card, a subsidiary of Bank of China (Hong Kong). Apple’s website notes that the system would be compatibile with BEA and HKT touchless payment network Tap & Go in the future, as reported.

    Apple users can add their cards to Apple Pay by just tapping “Add Credit or Debit Card” option in the Wallet app on devices running the iOS 8.1 or higher. Hong Kong’s Apple Pay works fine with the iPhone 6, iPhone 6s, iPhone 6 Plus, iPhone 6s Plus, and iPhone SE. It is also available on the iPad Air 2, iPad mini 3, iPad mini 4, and both iPad Pro models. However, iPhone 5, 5c, and 5s users need an Apple Watch to make Apple Pay work.

    Greg Hingston, the head of retail banking and wealth management at HSBC in Hong Kong, said the number of HSBC’s active mobile banking customers has increased by almost 50 percent over the past three years, according to the South China Morning Post.

    “We expect this to rise as customers continue to migrate to digital banking and as we roll out innovative offerings such as Apple Pay. Digital is an integral part of our strategy as technology and mobility are changing the way our customers access information, products and services,” Hingston said.

    In Hong Kong, Apple Pay can be used where contactless payment is accepted and at a wide range of retail partners, including 7-Eleven, KFC, McDonald’s, Pizza Hut, Pacific Coffee, Su-Pa-De-Pa, Taste, ThreeSixty, Uny, and more.

    The Cupertino-based company’s payment system has also debuted in France, which is compatible with Mastercard and Visa credit and debit cards issued by Carrefour Banque and Ticket Restaurant as well as Banque Populaire and Caisse d’Epargne, an assemblage that includes France’s second largest banking group.

    Apple Pay is now available in nine countries including the United States, the United Kingdom, China, Australia, Canada, Switzerland, and Singapore. In addition, Apple plans to launch Apple Pay to Spain through a partnership with American Express later this year.

  • South Korea’s card spending jumps 16 pct in Jan.

    South Korea’s card spending jumps 16 pct in Jan.

    South Korea’s card spending rose sharply in January, data showed Friday, on the back of increased consumption for the Lunar New Year holiday and a gradual recovery in domestic demand.

    Purchases made with plastic cards reached 56.1 trillion won (US$45.4 billion) last month, up 15.9 percent from a year earlier, according to data compiled by the Credit Finance Association (CREFIA).

    The data includes transactions on credit, debit and prepaid cards. Cash advances, overseas spending and card loans were not included.

    Of the amount, credit card spending went up 15.9 percent on-year to 44.79 trillion won, while those of debit cards advanced 16.2 percent to 11.2 trillion won over the cited period, according to the data.

    “This year, the new year holiday started earlier than last year, which mainly led to the growth in January’s credit card spending,” a CREFIA official said.

    The retail sector, including department stores and big retail chains, enjoyed a 20.4 percent surge in credit spending on-year to 6.7 trillion won, the data showed.

    In particular, purchases made by credit cards in convenience stores spiked 56 percent thanks to the increase in small families and the solid growth in sales of their private-brand products, according to the association.