As added account providers accompany Hong Kong’s adaptable payments market, bringing added accessibility and defended acquittal adventures for consumers, adaptable wallets accept become allotment of the circadian activity for abounding Hongkongers.
To abode apropos about the assurance of agenda wallets, companies accept appear up with altered measures.
WeChat Pay HK, for instance, has a three-layer analysis system. Customers accept to key in the password, and the analysis cipher of the acclaim agenda or debit card, as able-bodied as a six-digit countersign for authoritative payment. And its aloofness settings accept additionally been certified by TRUSTe.
The acquittal belvedere additionally allows two-way cross-border transfer. Hong Kong shoppers can appropriately achieve their bills with acreage merchants in Hong Kong dollars. The close is the aboriginal Stored Value Facility (SVF) Licensee that offers such function.
If a Hong Kong chump buys commodity from a acreage vendor, the app will appearance the barter bulk quote, and the acquittal bulk will be automatically adapted from yuan to Hong Kong dollar. After the chump confirms it, the transaction will be settled. This should be a actual accessible affection for the Hongkongers who assignment on the acreage or biking there frequently
Following the contempo barrage of Faster Acquittal Arrangement by the Hong Kong Monetary Authority, abundant banks and SVF licensees accept aing the program, added adorning their adaptable acquittal offerings.
This commodity appeared in the Hong Kong Economic Journal on Oct 16
Translation by Julie Zhu
[Chinese adaptation 中文版]
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