Hang Seng Bank of Hong Kong plans to introduce an NFC-based mobile payment scheme during the first half of 2013. The effort includes partnerships with wireless carrier PCCW mobile, MasterCard Worldwide, digital security provider Gemalto and handset manufacturer Samsung.
"Hang Seng is committed to investing in the latest technologies to provide customers with fast, convenient and secure access to financial services," said Rose Lee, vice chairman and chief executive for Hang Seng Bank. "Our mobile contactless NFC payment service will expand the range of payment channels in Hong Kong and place us among the leading cities as regards the use of advanced payment systems."
To encourage adoption and participation, the platform will be built on an open architecture with a common standard in order to enable third-party providers to participate without having to invest significant resources in building their own platforms, the bank said.
For more on this topic, visit the Contactless/NFC research center.