Silver Unicom announces Launch of Hong Kong's first trans-net mobile payment platform

Absrtact: Silver Unicom Treasure Limited (JETCO), which owns more than 30 bank members such as BOC Hong Kong, 18th announced the launch of Hong Kong's first trans-net mobile payment platform, it is expected to facilitate the development of the local mobile payment market, and the company intends to extend the service to individual bank account transfers (Peer-to-peer) and cross-border payment markets.

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Silver Unicom Treasure Limited, which owns more than 30 bank members such as BOC Hong Kong, 18th announced the launch of Hong Kong's first trans-net mobile payment platform (JETCO). It is expected to facilitate the development of the local mobile payment market, and the company intends to extend the service to individual bank account transfers (Peer-to-peer) and cross-border payment markets.
At present, banks in Hong Kong are working with mobile operators to launch mobile payment services, but there is a lack of a comprehensive platform compatible with mobile payment schemes for different types of handsets, telecommunications networks, credit card categories and card issuing banks.
Cai Bingzhong, chief executive of the bank, said at a press conference that the TSM platform, developed in collaboration with the Smart chip maker Gemalto (Gemalto), would provide authentication and data exchange through near-field communications (NFC) for mobile payment transactions.
"The Bank is prepared to submit information to the HKMA, and the next step will be to develop personal (peer-to-peer) mobile transfer platforms so that mobile payments or transfers are no longer restricted to near-field communications technology, nor are they limited to small transactions." "he said.
He also said that in the future, it was intended to extend the service to cross-boundary payments, extending from Hong Kong to other countries.