MasterCard to launch digital wallet in Hong Kong


New York-based global financial services giant MasterCard has showcased its latest innovative payment solution in Hong Kong.

The “digital wallet solutions” were launched last week at MasterCard’s own Innovation and Security Forum in Hong Kong and are expected to help customers to skip long queues by paying in a new way. The innovative solutions include paying by selfie or fingerprint scan.

The digital wallets have been designed for efficiency across multiple industries, including food and transportation.

“We are already working with a number of players in the market,” said MasterCard group head of digital payments, Raj Dhamodharan.

“We are after high-frequency transactions in market segments such as transportation, tickets and food and beverage.”

MasterCard Hong Kong, Macau and Taiwan division president, Hiang Choong, is confident that the latest delivering from MasterCard will effectively revolutionise payments and greatly meet the need for digital services in a technology-driven world.

“We can integrate the entire customer experience from ordering to payment,” he said.

“Technology has taken over our daily lives as we interact with technology and with one another. We see a growing integration of payment methods, and a merger between the physical and digital worlds.”

MasterCard will now turn its focus to a campaign to further promote the adoption of MasterPass – the global digital payments platform that connects consumers with merchants, allowing for purchases via mobile applications, which is already live in 29 markets worldwide.

According to Dhamodharan, banks are looking to partner with MasterCard to support the service since its launch in Hong Kong eleven months ago.The  Bank of East Asia, China Construction Bank (Asia), Dah Sing Bank, DBS Bank, Fubon Bank, Hang Seng Bank and OCBC Wing Hang are among those already signed up.