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!

Top 10 Chinese IPOs in 2017

City focus: Hong Kong

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.



Featured Articles

Top 10 female executives leading Japan's charge for change

As Japan pledges a 30% target for women executives at big firms by 2030, we spotlight 10 female corporate leaders blazing a trail in the country

Top 10 most valuable unicorns in China – phones to drones

Home to the world’s most valuable unicorn, not to mention the fastest growing, China may be trailing the US on numbers, but it is catching up – and fast

Top 10 fastest-growing energy companies in the APAC region

Business Chief takes a look at the top 10 fastest-growing energy companies in the APAC region, according to rankings from S&P Global Commodity Insights

Top 10 Chief Financial Officers in India

Corporate Finance

Top 10 largest companies Malaysia and the CEOs who helm them

Leadership & Strategy

5 high-profile CEO moves across Asia-Pacific this month

Leadership & Strategy