Name
Global FinTech Guide
Country _ Name
Hong Kong
SectionTitle
Identification
Body
FinTechs belonging to this category provide identification services, which are required for most banking services.

Introduction

Attitude of the country towards identification services

The use of digital identification service is generally welcome.

In December 2020, the Office of the Government Chief Information Officer launched digital ID IAM Smart, a digital identity service that provides Hong Kong residents one single digital identity and authentication to conduct government and commercial transactions online. This service is free and provided on a voluntary basis.

Legal affairs

Obligations and requirements to provide identification services

Providers of identification services do not require a licence.

However, the personal information processed in the course of the identification services would involve the collection and use of personal information. Businesses who control the collection, holding, processing or use of personal data are subject to the PDPO. There are 6 Data Protection Principles in the PDPO:

  • Data Principle 1 provides that personal data shall only be collected for a lawful purpose directly related to a function or activity of the data user. The data collected should be necessary and adequate but not excessive for such purpose. The means of collection should be lawful and fair.
  • Data Principle 2 requires data users to take all practicable steps to ensure that personal data is accurate and is not kept longer than is necessary for the fulfilment of the purpose for which the data is used. 
  • Data Principle 3 prohibits the use of personal data for any new purpose which is not or is unrelated to the original purpose when collecting the data, unless with the data subject’s express and voluntary consent.
  • Data Principle 4 requires that data users take all practicable steps to protect the personal data they hold against unauthorised or accidental access, processing, erasure, loss, or use. 
  • Data Principle 5 obliges data users to take all practicable steps to ensure openness of their personal data policies and practices, the kind of personal data held and the main purposes for holding it.
  • Data Principle 6 provides data subjects with the right to request access to and correction of their own personal data. 

Further information about the requirements on obtaining prescribed consent from the data subjects on the use, transfer and process of the personal information is available on the website: https://www.pcpd.org.hk 

Additional comments regarding the legal situation for identification services or what FinTech’s must be aware of in this business area

N/A.

Economic conditions

Market size for identification services and biggest companies in this business area

There is no publicly available information.

Additional comments regarding the economic situation for identification services or what FinTech’s must be aware of in this business area

N/A.

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