The Hong Kong Association of Banks (HKAB) has issued a set of common standards and recommended best practice guidelines for banks setting up mobile NFC payment services.
The HKAB says the enforcement of unified standards will ensure that the development of mobile payments services in Hong Kong is "interoperable, safe and secure".
The publication of the guidelines comes six months after the Hong Kong Monetary Authority (HKMA) settled on a market-driven approach to mobile payments in the territory, with standards to be developed by a specially-convened workgroup under the aegis of the HKAB.
Under the proposed guidelines, consumers should be able to:
- download multiple payment services from different banks and payment service providers onto a single NFC-enabled phone;
- enjoy uninterrupted payment service when switching from one mobile network operator to another operator or changing one's NFC-enabled phone; and
- conduct payment transactions with a high level of security in line with international standards and relevant regulatory requirements.
The bankers association says the HKMA will take into account the security requirements in the best practice document when assessing the suitability of NFC mobile payment services by banks.
Benjamin Hung, chairman of HKAB, says: "Mobile payment is an emerging technology, and it will continue to evolve. The Best Practice offers a good reference for banks and other stakeholders to start with when they develop their mobile payment solutions."
He says the workgroup will continue to meet to ensure that the guidelines evolve and remain relevant as the technology matures.