New mobile payments service launched in Hong Kong

Hong Kong residents now have access to new mobile payments service

A new mobile payments service has been launched in Hong Kong by Hang Seng Bank. The service leverages NFC technology to allow consumers to purchase goods from more than 1,000 outlets throughout Hong Kong. This service is one among several that have been introduced to Hong Kong in recent months, but Hang Seng aims to establish the service as a leader among consumers, a growing number of whom are demanding comprehensive and convenient mobile payments platforms.

Interest in mobile commerce rising among consumers

Hong Kong has long been an economic hub and home to tech-savvy consumers of all kinds. Consumers in Hong Kong have been very receptive of mobile commerce over the past few years, largely due to their interests in mobile technology and the high penetration of smartphones and tablets. These consumers particular favor online shopping, which is considered relatively convenient when conducted over a mobile device. Therefore, mobile payments have managed to establish a favored place with consumers.

Service leverages capabilities of NFC technology

The new mobile payments service is based entirely on NFC technology. That means that only NFC-enabled mobile devices can make use of the service provided by Hang Seng. These devices are relatively rare, but are becoming significantly more common with every passing month as device makers work to meet the demands of consumers. Currently, the most popular NFC-enabled device happens to be the Samsung Galaxy S III. Samsung recently released the Galaxy S4, which is also equipped with NFC technology, but this smartphone failed to perform up to the company’s standards in terms of sales.

Hong Kong Mobile Payments

NFC remains popular despite security concerns

Hang Seng believes that its mobile payments service will be well received among consumers. There are concerns regarding its use of NFC technology, however, due to how attractive this technology is to hackers. In the past, NFC technology has been explo

ited to access a consumer’s financial information. Such attacks have won NFC a fairly dubious reputation, but the technology remains one of the cornerstones of mobile payments.

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