One of Hong Kong’s leading telecoms networks is to trial a multi-currency tap-and-go payments system to boost tourism and business trade in the region.
PCCW Global, a division of HKT, has partnered with DHQ Tech to explore the viability of introducing the multi-currency service across the Greater Bay Area of Zhuhai in Hong Kong and Macau.
The tap-and-go system uses a mobile app to enable cashless transactions between consumers and merchants, via either a tap-and-go card enabled with NFC technology or a compatible SIM card and smartphone.
Senior vice president of global data sales and presales for PCCW Global Frederick Chui said the new trial “will enable Tap & Go users to pay for goods and services regardless of where in the world they originate from, or in which currency they wish to pay”.
Removing the barrier of currency conversion for tourists and business traders should bring “real benefits” to trade and tourism in the region, he added.
The first market that the multi-currency trial will take place in is Hengqin, which is linked to Hong Kong by the new Hong Kong-Zhuhai-Macao Bridge. It is one of China’s Pilot Free Trade Zones, and executive director and general manager of DHQ Tech Lianbing Deng explained it is the “ideal market” to trial the service.
“With their close proximity to each other, there is already tremendous tourism and business trade between Hengqin and Hong Kong,” he remarked.
The two firms will collaborate on ensuring the trial adheres to appropriate compliance measures, before rolling it out across the whole Greater Bay Area. In the long term the aim is to expand to other countries through “cooperation with international service providers”, Mr Chui added.