JETCO launches merchant payment service

ATM operator Joint Electronic Teller Services Limited (JETCO) in partnership with eight Hong Kong banks has launched JETCO Pay.

JETCO launches merchant payment service

The eight banks include: Bank of Communications (Hong Kong), Bank of East Asia, Chong Hing Bank, Dah Sing Bank, ICBC (Asia), OCBC Wing Hang Bank, Shanghai Commercial Bank and Wing Lung Bank.

The payment facility allows consumers to make in-store QR code payment, while in-app or online payments can be completed by inputting only their mobile number.

Consumers can make in-store purchases with the bank JETCO Pay app by scanning the merchant’s paper or electronic QR code. They can also use JETCO Pay merchant payment’s in-app feature to pay for parking through the “Park & Dine” app offered by Link Asset Management.

As the service is linked to the bank account, consumers do not have to top up. And merchants will reap the benefits of a no-cost, easy to set up payment service.

JETCO CEO Angus Choi said: “There is a large cash and cheque market in Hong Kong that is untapped. JETCO Pay Merchant Payment service aims to serve this market segment by providing a mobile payment solution that is low-cost and easy to set up. We are grateful for the support of the eight banks who will be gradually rolling out this service.

“Our objective is to establish JETCO Pay as a major payment brand in Hong Kong offering consumers easy access to the service not only locally, but also when they travel overseas.

“We are working in collaboration with financial institutions in China and Taiwan and expect to roll out cross-border payment service in the Greater China region later this year.”