Date
27 April 2018

BOCHK taps into mobile wallet market, paper says

BOC Hong Kong (Holdings) Ltd. (02388.HK) will launch a new mobile payment solution on Tuesday, Sing Tao Daily reported Monday. The service allows users to make mobile payments by inserting a device into the headphone jack of any smartphone. HSBC Holdings Plc. (0005.HK) requires the use of Apple Inc.’s iPhone while Hang Seng Bank Ltd. (0011.HK) requires an Android smartphone and PCCW’s mobile network. BOCHK is teaming up with MasterCard and Visa to offer the service. HSBC and Hang Seng have partnered with Visa and MasterCard, respectively. The BOCHK service uses near field communication technology and is supported by Jet Electronic Teller Services Ltd., the report said.

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EL/AC/RA

 

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