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BANKING TECHNOLOGY, RETAIL BANKING | Staff Reporter, Hong Kong
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Hang Seng Bank to unveil contactless payment service by 1H13

PCCW mobile will be its partner.

In a release, Hang Seng Bank has announced plans to develop an innovative mobile phone-based payment platform in partnership with PCCW mobile, MasterCard Worldwide, digital security company Gemalto and Samsung Electronics.

Utilising near-field communication (NFC) technology, the service will enable customers to make purchases through their credit card accounts by tapping their NFC-enabled mobile phones at payment terminals equipped with contactless readers.

This payment platform will provide greater convenience for consumers and represents a significant advancement of retail payment services in Hong Kong. An open architecture with a common standard will be used to build the platform, allowing other service providers and interested parties to participate without investing significant resources in building their own platforms.

This will make NFC payment development more sustainable in terms of cost and ease of adoption. The open architecture design also facilitates fast and easy development of NFC payment services. Together with the customer convenience offered by the new service, this will promote the wide acceptance and high penetration of NFC payments in Hong Kong.  

Gemalto will play an important role in ensuring the security of the informationstored on the SIM card of a customer’s mobile phone in connection with the service.

Customers will be able to use NFC-enabled mobile phones, including Samsung smartphones, to enjoy the service.

The service is scheduled to be rolled out in the first half of 2013.

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