Visa Becomes 2017 Official Payment in Lan Kwai Fong
Visa actively promoting contactless payments in Hong Kong
Visa is delighted to announce a partnership with the Lan Kwai Fong Association (LKFA) to become the 2017 official payment in Lan Kwai Fong (LKF), encouraging active use of contactless payments through Visa cards and smartphones.
From now until December 31, 2017, both local and overseas Visa cardholders can enjoy buy-1-get-1 free on beverages, buy-3-get-1 free offer on culinary delights and special discounts at selected premium dining outlets1 in Lan Kwai Fong, the city’s iconic landmark.
“As Visa continues to take the lead in driving electronic payments by expanding wider acceptance and promoting the use of contactless payments in Hong Kong, we are pleased to work with LKFA in offering an array of dining privileges to cardholders. More importantly, we aim to further expand contactless acceptance in the LKF area, and encourage more merchants to accept contactless payments, making Visa payWave and mobile payments as their new payment options,” said Caroline Ada, Country Manager of Visa Hong Kong and Macau.
“Our LKFA members are thrilled to work with Visa in enhancing payment experiences for our customers. For a premium entertainment hub like Lan Kwai Fong, we are always the pioneer in embracing new technology. Our customers come from different markets and we hope they can enjoy a great dining experience here while, at the same time, help our merchant members to embrace new payment technologies,” said Allan Zeman, Chairman of LKFA.
The use of contactless payments in Hong Kong signals b momentum. According to the latest YouGov Survey 20172, 84 percent of the Hong Kong respondents said they have tried either Visa payWave or a mobile payment solution, while 66 percent of them said they have tried both. In addition, Visa payWave has hit a new milestone, reaching over 3 million contactless-enabled cards and mobile devices in Hong Kong3. People in Hong Kong have embraced mobile contactless payment transactions made through smartphones, which already accounted for one-fifth of all Visa contactless transactions.
Visa Token Service is a new security technology that replaces sensitive payment account information found on payment cards, such as the 16-digit account number, expiration date and security code, with a unique digital identifier called a token that can be used to process payments without exposing actual account details. With the recent launch of mobile payment solutions in Hong Kong, Hong Kong has had the highest number of activated tokens in Asia Pacific4, reflecting the ever-growing demand for mobile payments in the market.
“Visa takes the lead in driving the future of payments by providing flexible and open payment technologies that enable the creation of innovative, new ways to pay. Contactless payments, including Visa payWave and mobile payment solutions, are the new way to pay, be paid, and better manage cardholders’ finances,” added Caroline Ada, Country Manager for Visa Hong Kong and Macau.
To learn more about Visa’s contactless payments, please visit www.visa.com.hk.
1Terms and Conditions apply. Kindly refer to the media factsheet or www.visa.com.hk/nath/en for offer details.
2 Commissioned by Visa, the YouGov online survey was conducted in January 2017 covering 750 respondents from Hong Kong.
3 As of December 2016. Quarterly Operating Certificate, Visa Inc. This data is reported quarterly by Visa’s clients on their operating certificates and is subject to verification by Visa. On occasion, client banks may update previously submitted information.
4 Such figure does not include issuer wallet solutions.
Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit www.visa-asia.com, visaapnews.asia and @VisaNews.