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DSB to Launch Mobile Payment Platform with Visa

TMCNet:  DSB to Launch Mobile Payment Platform with Visa

[December 18, 2012]

DSB to Launch Mobile Payment Platform with Visa

BEIJING, Dec 18, 2012 (SinoCast Daily Business Beat via COMTEX) -- Dah Sing Bank (DSB, HKSE: 02356) under Dah Sing Banking Group Limited reportedly announces that it will work with Visa to launch a mobile payment platform in order to provide payment methods for insurance, logistics, express courier service and exhibition sectors in addition to cash payment.

The business will be launched in the first quarter of next year. The payment platform is used only by iPhone now and will be used by other smart phones later. If a smart phone is equipped with external transmission device, the user can pay with credit card. Applicable credit cards include smart cards and cassettes, but now only Visa credit card users can use the platform.

According to executive director and retail banking director of the DSB, the bank hopes this new service will help the bank attract small and medium-sized enterprise customers. However, the director says this new business itself has limited contribution to the bank's profits.

In addition, Visa North Asian merchant business manager says that credit card information transmitted through phone external device is encrypted, so the information will not be left in a transmission device or phone.

Source: www.sina.com.cn (December 18, 2012)

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