Hang Seng Bank Announces NFC Payment Service in Hong Kong

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Hang Seng Bank is bringing NFC to Hong Kong. According to a report from Inside Retail Asia, the Hong Kong-based bank, part of the HSBC Group, has launched the service through about 1,000 outlets in Hong Kong.

Based on MasterCard’s PayPass technology, the service lets Hang Seng Bank customers with a MasterCard account and an NFC-enabled smartphone pay for purchases at merchants such as Pacific Coffee, Hung Fook Tong and Japan Home Centre by tapping their phones on contactless point of sale terminals.

The bank said it expects the number of outlets across Hong Kong which accept the new mobile payment product to exceed 2,500 by later this summer.

The mobile scheme requires users to get a free replacement NFC-SIM card installed in their enabled handset at PCCW-HKT stores and download the app. Once set up with the SIM and app, user can make contactless payments of HK$500 or less.