Citibank-Backed Mobile Wallet Launches in Hong Kong (Nov. 4, 2013)
Citibank Hong Kong and 3 Hong Kong, the mobile operation of Hutchison Telecommunications Hong Kong Holdings Ltd., have launched 3 Citi Wallet for mobile subscribers of 3 Hong Kong and Citibank Visa cardholders. 3 Citi Wallet is a mobile wallet service that uses NFC technology and includes functions, such as mobile payment, transaction history, a location-based special offer service and a search function directing customers to deals offered by retailers near them.
“With a huge number of customers already using smartphones on our high-speed data network and Citibank’s broad range of financial products and services, the 3 Citi Wallet revolutionizes the existing mobile communication platform and marks a milestone in mobile payment,” Amy Lung, managing director of 3 Hong Kong, said in an announcement. “We are confident that the NFC mobile payment service will further promote the trend of tap-and-pay spending for today’s consumer.”
The mobile wallet is the only one in Hong Kong supporting Android and iOS mobile operating systems, according to the companies. 3 Citi Wallet is compatible with NFC-enabled smartphones from Samsung, Sony, HTC and LG. Despite Apple’s decision not to include NFC in its iPhones, the mobile wallet can be used on those devices by downloading an app used in conjunction with a NFC sticker provided by Citibank.
China is not among the top countries in terms of cashless consumer spending; however it has had a rapid shift, with cash usage declining by as much as 20 percent between 2006 and 2011, according to a recent report by MasterCard Advisors. What’s more, Joint Electronic Teller Services Limited, a Hong Kong-based ATM service provider, along with its 30 member banks, announced last month plans to build a mobile payment platform that uses NFC technology.
