JETCO joins Banco Tai Fung and Luso International Banking Ltd to launch dual-currency JETCO Pay P2P mobile fund transfer service in Macau

---

JETCO joins Banco Tai Fung and Luso International Banking Ltd to launch dual-currency JETCO Pay P2P mobile fund transfer service in Macau

Hong Kong, 28 November 2017 ─ Joint Electronic Teller Services Limited (“JETCO”) today announced that Banco Tai Fung and Luso International Banking Limited have formally launched dual-currency JETCO Pay P2P mobile fund transfer service in Macau. The service allows bank customers to transfer Macau Pataca (MOP) and Hong Kong dollars (HKD) directly from their bank accounts by entering the recipient’s mobile number instead of the bank account number. Compared to traditional ways of money transfer, customers can enjoy a much higher level of convenience with key features like real-time fund transfer and anytime, anywhere access with mobile phone. Not only can customers transfer money to other people, they can also transfer money to their own bank accounts in other participating banks. Another five banks in Macau are expected to launch the service soon. The daily transaction limit of the service is MOP/HKD 5,000.

Luso International Banking Limited’s Director and Deputy General Manager Mr. Raymond Chan said, “We are pleased to partner with JETCO to offer Luso JETCO Pay. To align with our bank’s motto of ‘Open innovation and win-win cooperation’, we are committed to providing convenient, safe, easy to use and efficient electronic banking services to our customers. Luso JETCO Pay allows our customers to enjoy a brand new experience of using mobile number to do cross-bank, real-time mobile fund transfer. This is the start of a new chapter in Macau’s mobile payment market.”

Banco Tai Fung’s Vice President Mr. Wang Shou Fei said, “Committed to driving the development of Macau’s financial infrastructure and playing a part in building a smart Macau and digital Macau, Banco Tai Fung aims to deliver high quality financial services with excellent customer experience to all local residents. We are glad to collaborate with JETCO and become one of the first banks to launch JETCO Pay P2P in Macau as this will help change the current sole reliance on an expensive single channel for inter-bank fund transfer and bring customers a much faster and more convenient service.”

JETCO Chief Executive Officer Mr. Angus Choi said: “Thanks to the unwavering support of Banco Tai Fung and Luso International Banking Limited, we are delighted to launch JETCO Pay P2P in Macau. At JETCO, we aim to provide diversified payment services for the convenience of customers. With easy-to-use features and bank-grade security measures, JETCO Pay P2P will help reduce cash transactions and mark a major step towards a cashless society. In the future, we will offer more new features for JETCO Pay P2P, such as cross-border mobile fund transfer between Hong Kong and Macau, to help accelerate the growth of mobile payment in the two cities.”

Customers can download Tai Fung JETCO Pay and Luso JETCO Pay apps from iTunes App Store or Google Play.  After registering and linking their MOP and/or HKD bank accounts to their Macau mobile number, customers can send and receive money in real time directly through their bank accounts using just a mobile number, with no handling fee.

For more details of JETCO Pay, please visit www.jetcopay.com/macau

– End –

About Joint Electronic Teller Services Limited

Joint Electronic Teller Services Limited (‘JETCO’) was established in 1982 by five banks: Bank of China (Hong Kong) Limited; The Bank of East Asia, Limited; Chekiang First Bank Limited (currently OCBC Wing Hang Bank Limited); Shanghai Commercial Bank Limited; and Wing Lung Bank Limited. In 2015, China UnionPay Co. Ltd. became a strategic investor of JETCO. Today, JETCO has more than 30 member banks in Hong Kong and Macau and supports a range of banking services for them across both regions.

JETCO currently operates more than 3,000 ATMs in Hong Kong, Macau and over 20 cities across mainland China, offering convenient, reliable local and cross-border ATM services.

JETCO also provides a range of value-added services to help member banks deliver innovative, secure online and mobile banking services to their customers. In early 2016, the company launched the JETCO Pay P2P inter-bank platform in partnership with 12 banks in Hong Kong, which allows customers of these banks to transfer funds directly to account holders of major local banks anytime and anywhere with just the recipient’s mobile number.  In January 2017, JETCO announced its partnership with 7 banks to launch JETCO Pay P2P in Macau.

For more details, please visit www.jetco.com.hk.