The Hong Kong Monetary Authority (HKMA) conducted a consultancy study that began 2012 that has ultimately encouraged the introduction of promoting a new era of mobile and retail payments, reported NFC world. HKMA will work closely with the Hong Kong Association of Banks to create the appropriate infrastructure and regulation for beginning to introduce NFC payments in Hong Kong.
Peter Pang, the deputy chief executive of the HKMA stated, “With the growing acceptance of electronic and mobile payment services, Hong Kong is well positioned in grasping the next wave of opportunities offered by the NFC technology.”
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