Octopus to offer NFC payments

Hong Kong’s Octopus stored value cards will be available on NFC phones by the end of 2013, chief executive Sunny Cheung Yiu-tong has told the South China Morning Post. The company will allow customers to pay for goods up to the value of HK$1,000 (US$129) with their mobile phone — “higher than the cap of HK$500 for NFC services at HSBC and Hang Seng, the only banks that have launched such services so far.”