Central Banking

HKMA primed for mobile payments surge

Esmond Lee

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The policy objectives of the Hong Kong Monetary Authority (HKMA) on retail payment development can be summarised by four strategic goals: sound supervision; healthy development; enhanced competition; and consumer benefit.

Hong Kong has a population that embraces mobile technologies. The penetration rate of mobile services in Hong Kong, which stood at 228% as of March 2013, is one of the highest in the world. The penetration rates may be quite well known

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