What's New in Payments

Visa: One in two consumers are no longer willing to shop at stores that don’t offer a fully contactless payments process

Visa Back to Business Study contactless graphic

A survey of merchants and consumers in eight countries around the world has found that the Covid-19 pandemic has resulted in “a dramatic shift to digital commerce” with nearly half of consumers (48%) saying they would not now shop at a store that only offers payment methods that require contact with a cashier or a shared device... More











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Octopus triples its stored value card limit

Octopus stored value limit increases to HK$3,000 to meet consumers’ greater spending needs — Octopus — “Any customer who possesses a Smart Octopus issued before 1 October 2019 or an Octopus product issued before 1 December 2019 can upgrade the stored value limit from HK$1,000 (US$127.75) to HK$3,000 (US$383.26) via Octopus App or at any Octopus Service Point. Once the stored value limit has been upgraded, customers can also make payment of up to HK$3,000 for each transaction starting from 1 December at over 3,200 retail outlets.”


What's New in Payments

Hang Seng adds mobile cash withdrawals to Hong Kong ATMs

Hang Seng launches mobile cash withdrawal service — Hang Seng Bank — “Customers in Hong Kong can initiate cash withdrawal instructions on their mobile phones by using the Hang Seng Personal Banking mobile app and then collect their cash at the nearby Hang Seng ATM… At launch, all Hang Seng ATMs will support QR code cash withdrawals and over half will support both QR code and NFC cash withdrawals. NFC connectivity will be extended to all ATMs in the first half of 2020.”



What's New in Payments

Huawei expands NFC mobile payments to Hong Kong

Huawei rolling out new products to enhance user stickiness — Hong Kong Economic Journal — “Huawei Pay, which was launched in Hong Kong on Monday, allows users to settle bills in more than 40,000 retail spots accepting the UnionPay contactless card payment… Earlier this year, Huawei Pay was launched outside China for the first time. In Russia, 66 banks are now supporting the technology. Both Huawei and Honor smartphones will carry the new service, which is compatible with 20 mobile devices, including several smartwatches.”