Insight Report 4 minutes PremiumWeChat Pay Hong Kong Launches Cross-Border Mobile Payment Services Coresight Research October 3, 2018 Executive Summary Tencent has partnered with China’s leading bank-card service provider UnionPay and its subsidiary UnionPay International to offer cross-border mobile payment services for WeChat Pay HK users traveling to Mainland China, starting October 1. This service will allow WeChat Pay HK users to make payments in Mainland China in Hong Kong dollars (HKD), for which payments will be automatically converted from Chinese Yuan (RMB) to HKD within WeChat Pay HK, where exchange rate quotes will be available for users to view. Four merchants have tied up with WeChat Pay HK in this pilot launch and we see more merchants joining this service in the future. We see this cross-border payment service as another key step in WeChat Pay’s overseas expansion plans for becoming a global payment gateway. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: US Consumer Tracker: Avoidance Rises and Activity SlidesWeinswig’s Weekly: Understanding Amazon Fashion—Key Insights from Our Annual US Consumer SurveyHoliday 2024—Deck the Halls! Holiday Shopping Accelerates, with Décor Top of the List: US Consumer Survey InsightsInnovator Profile: Elyn Helps Apparel Companies Face the Challenge of Online Returns
