Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Technology

    The digital payment battle in HK

    By LUO WEITENG | China Daily | Updated: 2018-02-06 07:39
    Share
    Share - WeChat
    A woman shows the Alaska king crab she purchased with just one HK dollar (13 US cents) during a street market promotion event hosted by Alipay in Hong Kong on Dec 12, 2017. [Photo/Xinhua]

    Alipay, WeChat Pay among competitors in market dominated by Octopus, credit cards

    For years, China's twin pillars of digital payment-billionaire Jack Ma Yun's Alipay and Tencent's WeChat Pay-h(huán)ave been branching out worldwide to chase the more than 130 million big-spending mainland holidaymakers who have become a common sight across the globe, including Hong Kong.

    As the two payment giants raise the stake in their battle for bigger overseas market shares, Hong Kong has naturally become the "first stop" to localize their payment apps, which secure a combined 94 percent overseas mobile payment market share of the world's second-largest economy.

    Having been granted the so-called stored-value facilities (SVF) licenses from the Hong Kong Monetary Authority (HKMA) with another 14 digital payment operators in 2016, Alipay and WeChat Pay rushed to roll out their maiden versions of the payment-by-smartphone app in a local currency in Hong Kong.

    Next, the pair of deep-pocketed payment behemoths ratcheted up their expansion plans with a long list of headline-making campaigns and promotions to scramble for use by mainland tourists as well as local consumers.

    Having already conquered convenience stores, cosmetic shops and many other brand-name brick-and-mortar stores, they are now making inroads into the traditional street markets, breaking the Octopus card's decades-long dominance of MTR ticket purchases, and pushing the payment services to the city's notoriously stubborn taxi drivers who used to be firm believers that cash is king.

    Despite all the hype, whether Alipay and WeChat Pay can replicate their glowing success on the Chinese mainland in Hong Kong remains far from certain.

    "Just like revamp and update are long overdue in many aspects of the city's traditional financial industry, the retail payment system in Hong Kong has remained almost unchanged since the Octopus card was introduced some 20 years ago," said Witman Hung Wai-man, managing director of Qianhai International Liaison Services Ltd and president of Hong Kong Internet Professional Association.

    1 2 3 Next   >>|
    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    无码人妻一区二区三区兔费 | 久久超乳爆乳中文字幕| 99精品人妻无码专区在线视频区| 亚洲av无码专区在线观看下载| 亚洲成AV人在线播放无码| 精品久久人妻av中文字幕| 亚洲AV无码乱码精品国产| 欧洲精品久久久av无码电影| 人妻少妇看A偷人无码电影| 婷婷综合久久中文字幕蜜桃三电影| 91嫩草国产在线无码观看| 无码国产精品一区二区免费3p| 亚洲中文字幕无码爆乳av中文| 在线播放中文字幕| 中文成人无字幕乱码精品区| 无码AⅤ精品一区二区三区| 东京热加勒比无码视频| 无码少妇一区二区| 亚洲av无码一区二区三区四区 | 中文字幕精品一区二区日本| 亚洲免费无码在线| 午夜无码视频一区二区三区| 久久久精品无码专区不卡| 精品人妻无码专区中文字幕 | 精品久久久久久无码人妻热| 国产AV无码专区亚洲AV毛网站| 无码无套少妇毛多18PXXXX| 亚洲AV无码专区国产乱码4SE| 亚洲国产成人精品无码区在线观看| 免费无码又爽又刺激网站直播| 中文字幕视频在线免费观看| 日本中文字幕在线视频一区| 亚洲欧美在线一区中文字幕 | 中文字幕在线观看亚洲| 亚洲综合日韩中文字幕v在线| 日本免费中文视频| 无码av中文一二三区| 台湾无码AV一区二区三区| 亚洲日产无码中文字幕| 无码精品黑人一区二区三区| 日木av无码专区亚洲av毛片|