On 20 August 2020, Hong Kong IP & TMT Counsel Karen Lee delivered a webinar to a reputable property developer at its Hong Kong Island office, titled “Legal and Regulatory Issues Surrounding Mobile Payment Technologies”. Approximately 80 staff from various departments of the developer attended.
Karen kicked off the webinar by going through the different types of mobile payments, such as mobile wallets, QR codes and pay by link methods. She then discussed the regulations surrounding Stored Value Facilities (where cash value is prepaid or stored on a device or network, such as Alipay or Paypal), and Retail Payment Systems. Karen then addressed the developer’s intended use of mobile payment technology for tenants to pay rent for serviced apartments and customers to book and pay for events via mobile apps. She provided practical advice on the use of third party payment processors, including the important contractual provisions to be included. Towards the end, Karen discussed the legal requirements surrounding the collection and processing of personal data and credit card data in the context of mobile payment technologies, including the Payment Card Industry Data Security Standard.