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Hong Kong companies to explore multi-currency NFC mobile payments

Two Hong Kong companies are working together to explore the technological and regulatory viability of promoting multi-currency NFC mobile payments in the Greater Bay Area of Zhuhai, Hong Kong and Macau, in order to boost e-commerce, business trade and tourism in the region.

CCW Global, the international operating division of telecommunications service provider HKT, Hong Kong's premier telecommunications service provider, and DHQ Tech are working on the mobile-payment system, according to a press release.

At the moment, the system is provided in Hong Kong through HKT Payment Limited, a member of HKT Group, under a stored value facilities license granted by the Hong Kong Monetary Authority in 2016.

The collaboration is an extension of the agreement signed between PCCW Global and DHQ Tech this March to explore the technological and regulatory viability of developing the city of Hengqin into a global business and communications hub.

The companies did not reveal in the press release the time frame for the current project.