Payment Systems

HSBC cards no longer work in many overseas ATMs

Customers using ATMs abroad have been refused. Photo: Edward Wong

Many on business trips or holidays have said they were unable to get their hands on their cash from ATM machines.

Sunday, 12 May, 2013, 6:28am 39 comments

BOCHK set to offer transactions via mobile

BOCHK set to offer transactions via mobile

Bank of China (Hong Kong), one of the biggest credit card issuers in the city, says it will launch a near-field communication (NFC) mobile payment system in the second half of this year.

18 Apr 2013 - 5:33am

Apple launches payment plan for mainland buyers

Mainland customers can now pay for iPads in instalments.

Apple has begun letting users of its mainland Chinese website pay in instalments as the company looks for ways to make iPhones and MacBook laptops more affordable in the world's largest computer and mobile-phone market.

17 Jan 2013 - 4:19am

UnionPay card joins pack of top players

An advertisement board featuring the UnionPay bank card at a shopping district in Tokyo. The card is accepted in 135 countries. Photo: Reuters

Among the designer brands from Prada to Chanel at the Harrods flagship store in London, Li Yafang spotted a logo she knows from back home: the red, blue and green of UnionPay cards.

13 Dec 2012 - 3:34am

Hang Seng Bank joins leap into phone payments

Hang Seng Bank yesterday launched a platform that will let buyers pay for their purchases using smartphones at outlets equipped with contactless readers.

Customers would be able to make credit-card payments by simply waving their suitably equipped phones at any MasterCard PayPass terminal, Hang Seng said.

2 Nov 2012 - 5:30am

The Week Explained: Amex not as helpful as the marketing suggests

"American Express? That'll not do nicely, sir." Photo: Bloomberg

If you have a credit card you might want to pay some attention to this story. It's something of a saga, but bear with me because the bottom line is rather scary.

Recently, I realised that two insurance policies purchased via a promotion run by American Express, with payment linked to its cards, were more expensive than comparable products.

22 Oct 2012 - 1:54am

Visa targets smartphone payments in Hong Kong

Visa's payWave system can be found in 3,400 shops in the city.

Global payments technology giant Visa plans to step up development in Hong Kong of a mobile payments infrastructure that is supported by a wide range of smartphones.

20 Sep 2012 - 4:16am

Yoga centres under stress as banks restrict services after mass closures

Yoga instructor George Dovas strikes a pose with his students during a class at the Iyengar Yoga Centre in Sheung Wan. Photo: Jonathan Wong

Yoga studios in Hong Kong are feeling the backlash from the collapse of so many of their counterparts as banks now refuse to provide them with credit card payment facilities.

16 Sep 2012 - 4:03am

Now you can settle your tax bill 24/7

Hongkongers can now pay their taxes around the clock and almost everywhere. Convenience stores will accept their payments from today.

Taxpayers can settle bills of up to HK$5,000 at 7-Eleven, Circle K and VanGO branches, and at China Resources Vanguard supermarkets, across the city.

15 Aug 2012 - 10:42pm

PayPal mobile device hassmall traders in its sights

PayPal, the US e-commerce payment platform, is to tap a local market that has been largely neglected by electronic payment channels but is worth up to HK$2.8 billion a year.

13 Jul 2012 - 12:00am

Students need to dump credit cards

After reading an article about students being caught in credit card traps, it made me wonder who is most responsible for this. I think it is more the fault of university students and parents than the banks or the financial institutions.

12 Jul 2012 - 12:00am

Pay-by-phone parking meters may be on the way

The days of having to rush back to 'feed the parking meter' could be over thanks to a revolutionary upgrade that would allow drivers to remotely extend their parking time before it expires.

7 Jul 2012 - 12:00am

Octopus adds 16 cities, not Shenzhen

A new Octopus card to be launched next month will function in Hong Kong and 16 Guangdong cities - but not neighbouring Shenzhen.

The release of the card, which can be topped up in both Hong Kong dollars and yuan, follows two years of negotiations between operators of Octopus and the mainland's Lingnan Pass.

29 Jun 2012 - 12:00am

All steamed up

Hong Kong has a reputation for being a good place to park hot money, the result of liberal investment rules, an unstable global economy and our proximity to the mainland's multiplying wealth. It goes into bank accounts, the stock market and the property sector. Still, you might not expect it to come out of an ATM.

27 May 2012 - 12:00am

Cash advance not a loan, court hears

A former senior banker who founded a company that is accused of unlicensed moneylending argued in court yesterday that no other common law jurisdiction categorised its cash-advance product as a loan.

24 May 2012 - 12:00am