China: PCCW, Hang Seng Bank team up for NFC mobile payments

Tuesday 6 November 2012 11:27 CET | News

PCCW mobile, an operating division of Chinese telecommunication services provider HKT, has entered an agreement with financial institution Hang Seng Bank to provide mobile payment services using Near Field Communication (NFC) technology.

The partnership between PCCW mobile and Hang Seng Bank is set to adopt the Single Wire Protocol (SWP)-SIM which extends SIM cards to serve as the secure element for storing payment applications. Customers changing to a new mobile phone can insert their SWP-SIM card into their phones and wave the mobile phone over an NFC reader at a retail outlet to effect payment by credit card.

Consumers are also set to be able to turn a SWP-SIM mobile phone into an electronic wallet to keep e-discount coupons and loyalty card information for instant reward points. Consumers may also receive e-ticketing over the air or access additional information by tapping onto an NFC tag attached to a product or event promotional poster.

The service is set to be launched in H1 2013.

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Keywords: PCCW, Hang Seng Bank, NFC mobile payments
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce