While the nancial services industryand regulatory system in HongKong are well developed for mobilepayments, consumers are not yet onboard, giving Hong Kong an overallscore of 33.7 on the MasterCard MobilePayments Readiness Index.
Specically,the country’s strong nancial services andefcient regulations were offset by lower-than-average consumer willingness andadoption scores. Consumer education andmarketing efforts that promote the valueof mobile payments will be needed to turnthe tide in favor of their adoption.
WHAT YOU NEED TO KNOWBUSINESS ABSORPTION OF
NEW TECHNOLOGIESFamiliarity with contactless cards likeOctopus could give POS mobile paymentsan edge in the near termConsumers are less willing to use mobilepayments compared to their global counter-parts on both P2P (10% vs. 19% average)and m-commerce (11% vs. 17% average)Hong Kong has very strong nancial andregulatory organizations
Mobile Commerce ClustersConsumer ReadinessFinancial ServicesRegulationEnvironmentInfrastructure
Hong Kong is a global nancial center and has the financial services andregulatory system to match.
Financialservices are considered affordable andbusinesses get high marks for their customer service. An important elementof the market’s ability to adopt mobilepayments is how well companies absorbnew technologies because it reveals howreceptive merchants and other membersof the payments’ ecosystem are tochange.Here, Hong Kong does very well,scoring 84 percent compared to a Indexaverage of 76 percent. The level of
Hong KongIndex Average
Country ScoreIndex Average