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MTR is rolling out Octopus SIM, using your phone's NFC as an octopus card. It's really limited now - you have to buy a new Sony handset, it has to be through PCCW, and there are only 5000 of them.. but it's a good indication of things to come.
Hang Seng also has a NFC based Visa payment system, but again it's really limited right now
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