25 July 2016
Find out more

Hong Kong banks to roll out mobile P2P payment network

22 January 2016  |  9053 views  |  0 Hong kong modern buildings 2

Bank-backed Hong Kong ATM network Jetco is to launch a P2P mobile payment system with a consortium of 12 of the territory's leading banks.

The service will allow customers of the participating banks to transfer funds using just the recipient's mobile phone number. Banks participating in the venture include the Bank of China (Hong Kong), Bank of Communications, the Bank of East Asia, China CITIC Bank International, China Construction Bank (Asia), Citibank, Dah Sing Bank, DBS Bank, OCBC Wing Hang Bank, Shanghai Commercial Bank, Standard Chartered Bank and Wing Lung Bank.

Jetco chief executive Angus Choi says: “As a bank consortium, Jetco is able to offer an interbank P2P platform that can be shared by our member banks, helping them lower investment costs while giving them access to our sophisticated and proven technology built on Jetco’s existing ATM infrastructure. This will help our member banks launch their P2P services more quickly.”

The service will be made available to consumers later this quarter, he says, adding that in the medium to long term, the system will be extended to online and high street merchants for mobile shopping at the checkout.”

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Hong Kong telco HKT launches SIM-based mobile wallet

Hong Kong telco HKT launches SIM-based mobile wallet

28 July 2015  |  6033 views  |  0 comments | 8 tweets | 5 linkedin
Jetco taps Gemalto for Hong Kong and Macau NFC m-payments

Jetco taps Gemalto for Hong Kong and Macau NFC m-payments

14 February 2014  |  3704 views  |  0 comments | 1 tweets | 3 linkedin
HSBC partners telcos for Hong Kong NFC launch

HSBC partners telcos for Hong Kong NFC launch

20 December 2013  |  8010 views  |  0 comments | 2 tweets | 5 linkedin
Hong Kong banks agree mobile NFC standards

Hong Kong banks agree mobile NFC standards

27 November 2013  |  4253 views  |  1 comments | 7 tweets | 7 linkedin
Bank of East Asia to debut mobile payments service in 2014

Bank of East Asia to debut mobile payments service in 2014

25 November 2013  |  4403 views  |  0 comments | 5 tweets | 2 linkedin
Asian banks sign for OTI audio-jack plug-in for mobile NFC payments

Asian banks sign for OTI audio-jack plug-in for mobile NFC payments

13 November 2013  |  5016 views  |  0 comments | 2 tweets | 2 linkedin
Citi Hong Kong launches NFC-based mobile wallet

Citi Hong Kong launches NFC-based mobile wallet

01 November 2013  |  6421 views  |  0 comments | 7 tweets | 4 linkedin
Hong Kong's Octopus Group to trial mobile transit payments

Hong Kong's Octopus Group to trial mobile transit payments

10 September 2013  |  6189 views  |  0 comments | 5 tweets | 6 linkedin
Hong Kong's Hang Seng Bank preps NFC m-payments system

Hong Kong's Hang Seng Bank preps NFC m-payments system

02 November 2012  |  5521 views  |  0 comments | 5 tweets
Hong Kong builds e-bill system; ponders NFC m-payments infrastructure

Hong Kong builds e-bill system; ponders NFC m-payments infrastructure

07 September 2012  |  5330 views  |  0 comments
Asap TP unveils Hong Kong mobile wallet

Asap TP unveils Hong Kong mobile wallet

15 June 2012  |  5650 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
Find out moreVisit capgemini.comVisit VocaLink.com

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
8386 views 14 comments | 32 tweets | 37 linkedin
satelliteContactless Bitcoin startup Plutus Tap &am...
8175 views comments | 6 tweets | 3 linkedin
hands typing furiouslyWhat Every FinTech CEO Should Know About R...
8064 views 0 | 14 tweets | 8 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
8015 views 3 | 19 tweets | 7 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7668 views comments | 22 tweets | 28 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job