Mox launches new service for instant money transfers
Mox Bank Limited has launched a new service that allows Mox Credit customers to transfer money with their credit line. Mox is the first Hong Kong virtual bank to offer this service.
Mox Credit is highly popular with Mox’s customers and accounts for nearly 80% of all Mox Card spending. The new service adds more flexibility by enabling customers to use Faster Payment System (FPS) with Mox Credit at no additional charge. It allows Mox Credit customers to pay tuition fees, utilities bills, rent, and other services instantly while having the flexibility to settle the payments later.
Mox is also offering an interest-free period of up to 56 days for settlement so customers can better manage their cash flow.
Barbaros Uygun, CEO of Mox, said:
“Financial flexibility for customers is at the core of everything we do at Mox. In Hong Kong and around the world, the economic climate is weighed down by uncertainty. During such times, allowing customers to transfer and pay with Mox Credit later can ease our customers’ financial anxiety and help them control their cash flow better.”
Mox Credit customers can enjoy the new service with just a few clicks. They simply need to select the ‘Transfer’ tab on their Mox app, enter the payee details and transfer amount, and then choose ‘Mox Credit’ for the transfer.
Launched in Hong Kong in September 2020, Mox is a virtual bank backed by Standard Chartered, in partnership with HKT, PCCW and Trip.com. It has the combined power of a well-trusted international banking group, the city’s telecom and lifestyle leader as well as Asia’s largest online travel agency.