New Cathay World Elite® Mastercard® – powered by Neo now available

Rhea-AI Summary

Neo Financial (NEO) and Cathay Pacific, in partnership with Mastercard, have launched the Cathay World Elite Mastercard, the only Canadian card directly earning Asia Miles. The card offers premium rewards, travel benefits, and industry-leading digital features, including a secured credit option for newcomers to Canada.

First World Elite^® Mastercard^® in Canada with a secured credit option, tailored to new Canadian customers

CALGARY, Alberta & WINNIPEG, Manitoba--(BUSINESS WIRE)-- Neo Financial^™ (Neo), Cathay, and Mastercard have launched the new Cathay World Elite^® Mastercard^® — powered by Neo.

The only Canadian card that directly earns Asia Miles, the Cathay World Elite Mastercard will offer customers premium rewards on their everyday spending, exceptional travel benefits, and the industry-leading digital features of the Neo app. (Photo: Business Wire)

The only Canadian card that directly earns Asia Miles, the Cathay World Elite Mastercard will offer customers premium rewards on their everyday spending, exceptional travel benefits and insurance coverage¹, and the industry-leading digital features of the Neo app.

In addition, the card is the first World Elite Mastercard issued in Canada with a secured credit option. This secured option will benefit newcomers to Canada with guaranteed approval² and no credit history required.

Cathay World Elite Mastercard holders will enjoy accelerated opportunities to earn Asia Miles at more than 12,000 Neo rewards partners across Canada, added peace of mind when traveling thanks to priority online check-in, lounge³ and Wi-Fi access⁴, insurance coverages¹, and the leading digital experience offered by the Neo app.

Celebrating its 40th anniversary connecting Hong Kong and Canada, Cathay Pacific offers nonstop services from Toronto and Vancouver to Hong Kong and some 80 other destinations, including 16 airports in 15 cities in the Chinese Mainland.

Benefits enjoyed by cardholders include:

• Welcome offer: Receive up to 30,000 Asia Miles⁵ — enough to cover a one-way, Economy class flight from Vancouver to Hong Kong.
• 10% booking discount: For a limited time, cardholders can get up to 10% off Canada-origin Cathay Pacific flight bookings⁶.
• Premium rewards: Earn one mile per dollar on every purchase in Canada⁷ and double the miles on purchases outside of Canada⁸ and on Cathay Pacific flights⁹. Plus, receive an average of 5x the miles¹⁰ at 12,000+ Neo merchant partners (including restaurants, cafes, apparel, and more), and up to 15x the miles¹⁰ on first-time purchases.
• Travel benefits: Get priority online check-in, access to 1,300+ DragonPass airport lounges in more than 140 countries³, and Wi-Fi in-flight and at 1M+ Boingo hotspots around the world⁴.
• Significant insurance coverage¹: Enjoy peace of mind with protection against flight cancellation, baggage loss, flight delay, car rental theft and damage, and more.
• Helpful digital features: Access Neo’s intuitive digital tools, including 24/7 chat support, in-app card management, and real-time notifications.
• Access to Priceless Experiences: From culinary lessons to museum visits, cardholders will be able to create memories through Priceless Experiences available exclusively on Priceless.com - available in 15 countries in Asia-Pacific as well as Canada.

“Our partnership with Cathay is a major milestone in Neo’s journey, marking our first World Elite Mastercard and a strong relationship with a globally respected premium travel lifestyle brand,” said Andrew Chau, Neo’s Chief Executive Officer. “We’re proud to deliver another card product that offers exceptional value for our cardholders, and especially newcomers to Canada.”

Cathay Director Customer Lifestyle Paul Smitton said: “Our partnership with Neo Financial marks a new milestone in our commitment to serving Canadian travellers, providing greater access to Asia and beyond via Cathay’s network. This is Cathay’s first cobranded credit card partnership with a fintech. Neo Financial’s ability to provide an instant and best-in-class financial experience for our customers aligns with Cathay’s ambitions to become one of the world’s greatest service brands.”

“We’re proud to be deepening our partnership with Cathay Pacific and Neo Financial to bring this new and unique card to Canadians, especially for those who want to travel to Asia and beyond,” said Balinder Ahluwalia, Senior Vice President, Market Development and Digital Partnerships, Mastercard, Canada. “Mastercard’s fast, secure and reliable global network gives Cathay World Elite® Mastercard® cardholders robust, multi-layered protection when travelling and shopping in Canada and globally, while providing access to Priceless Experiences all around the world – exclusive to Mastercard cardholders.”

You can learn more and apply for the new Cathay World Elite® Mastercard® here.

About Neo Financial

Neo Financial is a technology company building a more rewarding financial experience through reimagined spending, savings, investing, and mortgages. Founded in 2019 by the co-founders of SkipTheDishes, Neo has raised more than $299 million in funding and has been recognized as the top tech startup in Canada by LinkedIn. Neo is headquartered in Calgary and Winnipeg, and is backed by top-tier investors across North America.

Through partnerships with leading financial institutions, Neo provides members with safe and secure ways to spend (Neo Credit), save (Neo Money™), invest (Neo Invest™), and get a mortgage (Neo Mortgage™). Neo for Business powers financial solutions for Tim Hortons, Cathay, Hudson’s Bay, and over 12,000 other partners across the country. To learn more, visit neofinancial.com.

About Cathay

Cathay is a premium travel lifestyle brand that brings together all that we love about travel with everyday lifestyle. The range of products and services includes flights, holidays, shopping, dining, wellness and payment. All our travel lifestyle offerings are designed to bring customers exciting offers, rewards, experiences and hand-picked partners.

Flights are provided by Cathay Pacific, the home airline of Hong Kong and a founding member of the oneworld global alliance. The Cathay Group also comprises low-cost carrier HK Express, express all-cargo carrier Air Hong Kong and various subsidiaries. We are a member of the Swire Group and are listed on the Hong Kong Stock Exchange (HKSE) as a public company.

For more than seven decades, Cathay Pacific has been connecting our home city of Hong Kong to the world. Now we’re bringing that connection to more of our customers’ lives. The new era of Cathay elevates their every bite, tap, step, stay and flight to greater heights. www.cathaypacific.com

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
www.mastercard.com

Disclaimers

The Cathay World Elite® Mastercard® is issued by Neo Financial™ pursuant to license by Mastercard International Incorporated.

Mastercard®, World Elite®, and the circles design are registered trademarks of Mastercard International Incorporated.

The Cathay World Elite® Mastercard® is not available in Quebec.

¹ This insurance coverage is underwritten by Chubb Insurance Company of Canada under a Group Policy issued to Neo Financial Technologies Inc. All coverage is subject to the terms, conditions, limitations and exclusions outlined in the Certificate of Insurance, and for Quebec residents the Summary and Fact Sheet. Neo, its employees and representatives are not agents of Chubb, nor can they waive or change any terms of the insurance coverage. View the full list of insurance certificates here: https://www.neofinancial.com/legal/legal-bundles.

² Conditions apply. Must 1. be the age of majority in your province or territory of residence; 2. be a Canadian resident; 3. provide security funds.

³ Certain terms, conditions and exclusions apply. For full details, please visit: https://mastercardtravelpass.dragonpass.com/terms-and-conditions

⁴ Certain terms, conditions and exclusions apply. For full details, please visit: http://www.boingo.com/legal/end-user-license-agreement-boingo-customer-agreement/

⁵ Conditions apply. One-time offer for new customers. Must 1. be the age of majority in your province or territory of residence; 2. be a Canadian resident; 3. Have a personal income of $80,000 CAD or a household income of $150,000 CAD; and 4. for secured cards only, provide security funds. Initial 15,000 Asia Miles are issued once card is activated. To earn additional 15,000 Asia Miles minimum spend of $3,000 must be completed within 3 months from the date the card is activated. Asia Miles may be limited and vary by perks, offer, and partner. Offer is subject to the Asia Miles terms and conditions. Neo Financial™ and Cathay reserve the right to withdraw this offer at any time.

⁶ Limited time offer. Terms and conditions apply. See join.neo.cc/cathay10 for details.

⁷ You will earn 1 Asia Mile for every 1 CAD when you use your Cathay World Elite® Mastercard® – powered by Neo on purchases in Canada. Asia Miles will be credited directly to your Asia Miles account within 3 days after purchase. Asia Miles may be limited and vary by perks, offer, and partner. Offer is subject to the Asia Miles terms and conditions. Neo Financial™ and Cathay reserve the right to withdraw this offer at any time.

⁸ You will earn 2 Asia Miles for every 1 CAD when you use your Cathay World Elite® Mastercard® – powered by Neo on purchases outside of Canada. Asia Miles will be credited directly to your Asia Miles account within 3 days after purchase. Asia Miles may be limited and vary by perks, offer, and partner. Offer is subject to the Asia Miles terms and conditions. Neo Financial™ and Cathay reserve the right to withdraw this offer at any time.

⁹ You will earn 1 additional Asia Mile for every 1 CAD (for a total of 2 Asia Miles for every 1 CAD) when you use your Cathay World Elite® Mastercard® – powered by Neo to purchase Cathay Pacific tickets online at cathaypacific.com/ca. The Double Asia Miles offer applies to the amount charged to your credit card in Canadian dollars only, not to Asia Miles redeemed for award redemption bookings. Additional Asia Miles will be credited directly to your Asia Miles account within 48 hours of ticket issuance. To benefit from this offer, you must be a member of the travelling party on the same booking and must log in using your own Cathay membership number. Asia Miles may be limited and vary by perks, offer, and partner. Offer is subject to the Asia Miles terms and conditions. Neo Financial™ and Cathay reserve the right to withdraw this offer at any time.

¹⁰ Average based on current offers at select partners. Value increase is an average and depends on card use. Asia Miles may be limited and vary by perks, offer, and partner. Offer is subject to the Asia Miles terms and conditions. Neo Financial™ and Cathay reserve the right to amend or withdraw this offer at any time.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231206576420/en/

For more information, please contact media@neofinancial.com.

Source: Neo Financial

FAQ

What is the new Cathay World Elite Mastercard launched in Canada?

The Cathay World Elite Mastercard is a new credit card launched in Canada by Neo Financial (NEO), Cathay Pacific, and Mastercard.

What are the benefits of the Cathay World Elite Mastercard?

The card offers premium rewards, travel benefits, insurance coverage, and industry-leading digital features.

What are the key features of the Cathay World Elite Mastercard?

The card offers accelerated opportunities to earn Asia Miles, priority online check-in, lounge access, Wi-Fi, and insurance coverages.

Who can benefit from the secured credit option of the Cathay World Elite Mastercard?

The secured credit option is designed to benefit newcomers to Canada with guaranteed approval and no credit history required.

What are the travel benefits of the Cathay World Elite Mastercard?

Cardholders get priority online check-in, access to airport lounges, Wi-Fi in-flight, and significant insurance coverage for peace of mind while traveling.