HSBC has partnered with four Hong Kong-based mobile operators HKT, CSL, SmarTone Telecommunications and China Mobile Hong Kong to launch NFC-capable mobile wallets in the country in 2014.
The mobile wallets will allow the HSBC customers to store their HSBC credit cards on Android-based NFC-based smarphones and pay for goods and services by just tapping the mobile device with retailer terminals.
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The maximum amount per NFC transaction can be either HKD500 ($65) or HKD1,000 ($129).
HSBC will use Single Wire Protocol (SWP)-SIM cards supplied by mobile operators for storing payment applications running on mobile phones.
HKT was quoted by pccw as saying that it will use Single Wire Protocol SIM cards for the secure storage of payment applications and credit cards on its customers’ NFC-enabled mobile phones.
"The SIM cards can store different credit cards issued by multiple partner banks, including HSBC," HKT added.
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