HSBC in Hong Kong is to launch an NFC-based mobile wallet with four of the territory's mobile carriers.
Android-based smartphones issued by HKT, CSL, SmarTone Telecommunications Holdings and China Mobile Hong Kong will be capable of supporting the HSBC app, which will enable customers to pay for goods and services with a tap of their phone on retailer terminals
HSBC will use Single Wire Protocol (SWP)-SIM cards supplied by the carriers as the secure element for storing payment applications running on a mobile phone.
Set for launch in early 2014, HSBC will be among a clutch of other banks and mobile operators jostling for space on consumer handsets.
The Hong Kong Association of Banks (HKAB) last month issued a set of common standards and recommended best practice guidelines for banks setting up mobile NFC payment services.