T-APP AND GO: Mobile wallet service allows mobile payments and P2P transfers to be made

Hong Kong Telecommunications (HKT) subsidiary HKT Payment has launched a SIM-based NFC mobile payment service to let customers of its 1010 and Csl mobile service brands pay at more than three million locations worldwide which accept MasterCard PayPass, using funds stored in their Tap & Go mobile wallet account.

In addition to in-store payments, the service lets users make P2P transfers by tapping their devices together through its PayBuddy feature, as well as enabling online payments of up to HK$10,000 (US$1,290). To promote the service, users will be offered a 50% discount on selected items at retail chain 759 Store from August 8.

“Tap & Go is embedded in an NFC-based, all-in-one SIM card,” HKT explains. “Csl or 1010 customers can make payments at MasterCard PayPass readers in Hong Kong and overseas as well as for online purchases. Customers can also have the option to set PIN protection for maximum security.”

Users can top-up their Tap & Go accounts using either cash or credit card. To top up using cash, they can visit any HKT, 1010 or Csl store, while topping up via credit card can be done as and when needed or by setting up an automatic top-up when their balance reaches a set limit. Accounts can be topped up by up to HK$10,000 per day to allow large purchases of up to HK$1,000 (US$129) each in-store.

Customers can also review their past three months’ transaction history, and can participate in the MasterCard Traveler Rewards program and earn HKT The Club loyalty program bonus points. Payments are currently settled in Hong Kong dollars, with foreign currency transactions to be enabled in “due course”.

A video shows the Tap & Go service in action:

“Tap & Go unleashes the capabilities of NFC and all-in-one SIM to bring a new, convenient and secure payment experience for customers,” says Alex Arena, group managing director of HKT.

HKT was one of four carriers that formed the Asia NFC Alliance in February last year to spread adoption of NFC services. Its holding company, PCCW Mobile, partnered with Hang Seng Bank, Gemalto, MasterCard and Samsung to introduce Hong Kong’s first NFC service in 2012.