JETCO Hong Kong offers cashless payment platform
Joint Electronic Teller Services (JETCO), a Hong Kong based cash machine network operator, has launched a cashless payment offering this week.
On Thursday it announced it would offer cashless payments via a QR-code base smartphone system which is similar to those already offered by Alipay and WeChat Pay.
Cashless mobile payments in Hong Kong have taken off more slowly than in mainland China, due to initial figures of those already using credit cards being higher, and also the popularity of the widely used Octopus Card.
See also:
Business Chief: Asia edition – February issue out now!
JETCO’s platform joins an increasingly crowded worldwide stage which included Apply Pay, Samsung Pay, Alipay and WeChat, as well as many contactless debit and credit cards.
JETCO has offered a peer-to-peer money transfer system, however, since 2016.
CEO Angus Choi told the South China Morning Post: “we want to achieve a cashless society in Hong Kong by penetrating the small cash-and-cheque stores”. He added that it would be necessary to educate Hong Kong’s population more about the potential of cashless payments.
JETCO’s app can be used by cardholders from a variety of banks including the Bank of East Asia, and is also available for use in online stores.
- Why Hong Kong’s IPO market is set to bounce backCorporate Finance
- Investor confidence returns for Hong Kong’s rising affluentLeadership & Strategy
- Mainland China & Hong Kong: most active IPO year since 2011Corporate Finance
- AirTrunk launches first Hong Kong hyperscale data centreTechnology
