The partnership between PCCW mobile and Hang Seng Bank is set to adopt the Single Wire Protocol (SWP)-SIM which extends SIM cards to serve as the secure element for storing payment applications. Customers changing to a new mobile phone can insert their SWP-SIM card into their phones and wave the mobile phone over an NFC reader at a retail outlet to effect payment by credit card.
Consumers are also set to be able to turn a SWP-SIM mobile phone into an electronic wallet to keep e-discount coupons and loyalty card information for instant reward points. Consumers may also receive e-ticketing over the air or access additional information by tapping onto an NFC tag attached to a product or event promotional poster.
The service is set to be launched in H1 2013.
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