Following this announcement, Alipay+ will focus on enabling users and customers of 14 overseas mobile wallets and bank applications from 9 countries to make secure and efficient payments in the region of Hong Kong from their home apps. This currently represents the largest number of international payment applications that were introduced at the city’s offline commercial network through the use of cross-border cooperation at one time.
In addition, Alipay+ will focus on meeting the needs, preferences, and demands of clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
Throughout this initiative, Alipay+ and the other wallet partners have established a joint mechanism for customer services in the region of Hong Kong - Alipay+ Service Collaboration Mechanism -, aiming to optimise the manner in which collaborators and individuals benefit from improved cross-border transaction experiences. At the same time, the companies will focus on optimising operational efficiency and providing improved solutions to global digital wallet users and merchants, a process that will take place through operational collaboration and product innovation.
Included in the list of e-wallets and bank applications brought to Hong Kong by Alipay+ are the MPay (Macao SAR, China), Changi Pay and OCBC Digital (Singapore), GCash and HelloMoney (The Philippines), Hipay (Mongolia), Kakao Pay, Naver Pay and Toss Pay (South Korea), MyPB by Public Bank Berhad and Touch 'n Go eWallet (Malaysia), TrueMoney (Thailand), and Tinaba (Italy). Similar to Alipay (Chinese mainland), all of them are currently accepted at over 90% of the local outlets in the city.
Users of these e-wallets are expected to access a secure and efficient payment experience with transparent and competitive exchange rates in Hong Kong, whenever they encounter the Alipay+/AlipayHK logo at merchants and businesses in the city. In addition, local traders, especially small and medium-sized enterprises (SMEs), will have the possibility to access payments from 14 global e-wallet operators through the use of their existing AlipayHK codes, which are set to expand their businesses without the need for any additional investment.
Travelers will also be allowed to choose to bind major international bank cards, such as Visa, Mastercard, JCB, Discover®, and Diners Club International, to an Alipay app in order to access multiple local Alipay services for shopping, dining, as well as ride-hailing to public transportation in the region of the Chinese mainland. This process will take place without the need for a local bank account or phone number.
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