Monitise, the wireless payment system company, and the Joint Electronic Teller Services (Jetco) network of banks plan to expand mobile commerce in Hong Kong in a tie-up with communications giant PCCW.
Starting in the second half of this year, customers of PCCW's mobile communications unit can recharge, or 'top up', their prepaid voice or data SIM cards directly through their accounts with any of Jetco's 30 member banks, using an application on their smartphones.
'It's immediate, efficient and responsive - a service that reflects the energetic, on-the-go nature of the people in Hong Kong,' Richard Midgett, managing director of PCCW's wireless business, said.
According to Monitise, it will allow Jetco member banks to generate more revenue from their customers, who would otherwise buy a new SIM card from a convenience store or other retailer.
'Convenience and simplicity are at the heart of the innovative and collaborative approach we pursue in entering new markets with leading local partners,' Alastair Lukies, the chief executive of London-listed Monitise, said.
'And this deal forms a firm foundation for other payment and commerce services to come in Hong Kong.'
The so-called 'Mobile Money' system developed by the British firm, whose backers include Standard Chartered Bank and Visa, enables customers of multiple banks and wireless network operators to conduct secure banking and payment transactions directly from their internet-ready smartphones.