The Hong Kong Monetary Authority (HKMA), a division of the Hong Kong government, will take into account the security requirements outlined in the document when supervising banks NFC mobile payment services.
The best practices and standards have been developed by the HKMA and HKAB over the past eight months and cover three areas: security — ensuring the security of e-wallets and the payment process, and thereby the security of services, standards — establishing technical standards with reference to widely applied industry and international standards to enable interoperability between different NFC infrastructures, mobile devices and terminals and the continued development of NFC mobile payment services and operational process — introducing a standardised operational process.
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