Standard Charter’s Virtual Bank Mox Update: Now Has 80,000 Customers & Over 1.5 Million Transactions Been Made With Mox Card

Mox, Standard Chartered virtual bang that is based in Hong Kong, announced on Monday its latest progress update. The virtual bank launched in September 2020 and as previously reported, it was created in partnership with PCCW, HKT, and Trip.com

“With Mox, opening an account is fast, secure and free. Within minutes, customers can enjoy a whole new way of smarter banking, saving and spending. Mox is also taking the lead in launching Asia’s first all-in-one numberless bank card, further enhancing privacy and security for customers.”

In less than six months, Mox has more than 1% of Hong Kong’s population or over 80,000 customers. Generation Mox (Mox customers) is as young as 18, and as old as over 90. More than 16,000 merchants around the world have processed transactions with Mox, and over 1.5 million transactions (as of 22 February 2021) have been made with Mox Card. Mox’s other achievements included:

  • At the end of October last year, It deposited of HK$ 2.6 billion, but by end of December 2020, it has grown to HK$ 5.1 billion. Total deposits by Mox customers have almost doubled in just two months
  • Generation Mox aspires to save a collective Goals target of HK$660 billion
  • The top five most common goals of Generation Mox: Savings, Travel, Insurance, Electronic gadgets and Tax

In regards to the latest milestones, Mox added:

While we work hard every day to make it count for you, Mox’s ultimate aim is to change your banking experience in Hong Kong for the better. There’ll be additional Smart Banking, Smart Saving, Smart Spending services, including a credit card, currently in beta testing with selected customers, which is expected to launch later. It may be just more than 1% now, but we’re looking forward to welcoming the rest of Hongkongers in the coming years. Our journey together has only just started.”

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