• Best Practices on NFC Mobile Payments Issued in Hong Kong
  • December 12, 2013 | Author: Gabriela Kennedy
  • Law Firm: Mayer Brown JSM - Hong Kong Office
  • Near field communication (NFC) mobile payment services are on the rise in Hong Kong, and are offered in many retail outlets as a payment method. To facilitate the growth of such technology whilst balancing the security concerns of the public, the Hong Kong Association of Banks (HKAB), in consultation with the Hong Kong Monetary Authority (HKMA), has recently issued a Best Practice on NFC Mobile Payments in Hong Kong (Best Practice). The Best Practice is intended to provide the minimum security requirements and other best practices for the development of NFC mobile payments in Hong Kong.