AllPay Brings Wechat HK e-Wallet to Hong Kong
AllPay has released a new product for merchants – Wechat Pay HK e-Wallet. It is now integrated within AllPay’s All-in-one payment solution together with Wechat Pay and Alipay from mainland China. This solution allows customers to make payments in Hong Kong for taxies, kiosks, supermarkets and chain stores. With AllPay’s All-in-one app for QR code payment, merchants-such as Hong Kong-based restaurants, supermarkets, and chain stores- can support payments from e-wallet users as well.
The two payment apps, Alipay and Wechat Pay, offer billions of people an easy way to store and use their money through their mobile phone. In mainland China, Wechat Pay and Alipay are deeply integrated into people’s lives. Cash, credit cards and Octopus cards however are still the main payment methods in Hong Kong. With more visitors traveling to Hong Kong, the lack of a convenient payment method is affecting the market, because people are less willing to carry large amounts of cash with credit card fraud being a concern.
Wechat Pay HK e-Wallet is a new convenience for local Hong Kong people and allows mainland visitors to still use Alipay and Wechat Pay. AllPay’s solution also helps Hong Kong merchants support customers’ mobile payments thereby increasing sales. AllPay also offers an economical fee for merchants, saving up to 1%-2% on the transaction fee compared to credit cards, and costing nothing for the one time access fee. AllPay automatically converts the payment into HK dollars, ensuring no exchange loss.