18 August 2017
Find out more

Jetco mobile P2P to go live in Macau with seven banks

17 January 2017  |  1703 views  |  0 Source: Jetco

Joint Electronic Teller Services Limited ("JETCO") today announced a partnership with 7 banks in Macau to offer dual-currency JETCO Pay P2P mobile fund transfer.

The service allows customers of the participating banks to transfer Hong Kong dollars (HKD) and Macau Pataca (MOP) to account holders of all local participating banks using just the recipient's mobile number, without having to enter the bank account number.

The seven participating banks include: Banco Comercial De Macau S.A., Banco Nacional Ultramarino, S.A., Tai Fung Bank Limited, Bank of China Limited, Macau Branch, Industrial and Commercial Bank of China (Macau) Limited, Luso International Banking Limited and OCBC Wing Hang Bank Limited. They will gradually roll out JETCO Pay P2P starting from the second half of 2017.

JETCO Chief Executive Officer Mr. Angus Choi said: "With the rapid development of Macau's economy in recent years, mobile phone penetration has also increased to nearly 200%, creating the perfect environment for the development of mobile payment services such as JETCO Pay P2P in the city. Operating on our existing inter-bank network, JETCO Pay P2P provides the most comprehensive cross-bank fund transfer service in town. Following its successful debut in Hong Kong last year, we are pleased to replicate this success in Macau with the support of seven member banks."

JETCO Pay P2P has three distinct features: it is convenient, easy to use and safe. This new service is directly linked to a consumer's bank account, meaning no top-up will be required. Consumers only need to know the recipient's mobile number and can transfer funds across banks anytime and anywhere. Furthermore JETCO Pay P2P features bank grade security measures such as end-to-end encryption, a dynamic pin pad and a device binding verification function to offer multiple layers of protection to users.

"Electronic payment is a global trend and is set to become the mainstream of payment method, replacing traditional forms of payment. The reduction of cash management will bring significant economic benefits to the banking industry. To consumers, electronic payment also brings more convenience and a higher level of security comparing to cash. I believe that JETCO Pay P2P will play a role in transitioning Hong Kong and Macau into cashless societies," Mr. Choi said.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comdownload the paper nowvisit www.niceactimize.com

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10152 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8416 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7850 views 0 | 1 tweets | 9 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7781 views comments | 3 tweets | 7 linkedin

Featured job

Find your next job