The bank is partnering with PCCW Mobile, MasterCard, Gemalto and Samsung Electronics to introduce Hong Kong's first NFC service in mid-2013.
Customers' card details will be stored on NFC-enabled SIM cards provided by PCCW.
"An open architecture with a common standard will be used to build the platform, allowing other service providers and interested parties to participate without investing significant resources in building their own platforms," says Hang Seng Bank. "This will make NFC payment development more sustainable in terms of cost and ease of adoption.
"The open architecture design also facilitates fast and easy development of NFC payment services," the bank adds. "Together with the customer convenience offered by the new service, this will promote the wide acceptance and high penetration of NFC payments in Hong Kong."
"Hang Seng is committed to investing in the latest technologies to provide customers with fast, convenient and secure access to financial services," says Rose Lee, chief executive of Hang Seng Bank. "Our mobile contactless NFC payment service will expand the range of payment channels in Hong Kong and place us among the leading cities as regards the use of advanced payment systems."