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MasterCard International
has adopted a cardholder liability limit of US$0(zero) for unauthorized use
of any Asia Pacific issued, consumer MasterCard-branded cards in the Asia
Pacific region.
To qualify for this zero liability protection, cardholders must meet certain conditions including having exercised vigilant care in safeguarding their cards and immediately
notifying their issuing bank of the loss, theft and/or unauthorized use of their cards.
The accounts of such cardholders must also in be good standing and cardholders must be in compliance with the terms and conditions of their cardholder agreements
with their issuing banks.
André Sekulic, president,
Asia Pacific, Middle East and Africa, MasterCard International said, “This zero liability rule has been a work-in-progress for some time, taking
into account the great diversity across the Asia Pacific markets. We are pleased to advise that the Board of Directors for
Asia Pacific has been constructive and supportive of the need to protect consumers, and has approved the adoption of the zero liability rule.”
MasterCard-branded cards issued in Australia, Brunei, China, Hong Kong, Indonesia, Japan, Korea, Macau, Malaysia, New Zealand, the Philippines, Singapore, Taiwan,
Thailand, Indo-China, Guam, South Pacific Islands and Mongolia qualify for this zero liability protection.
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