CK Hutchison and Ant Financial Services will form a joint venture to offer a consumer-oriented digital wallet under the ‘AlipayHK’ brand, which will integrate online and offline payments. Dedicated to local-currency payments in Hong Kong, AlipayHK attracted over 100,000 active users in the first two weeks after its launch last May. The mobile app is now accepted in over 4,000 leading retail brand outlets in Hong Kong.
On top of in-store payment services, AlipayHK also enables in-app lifestyle features such as third-party insurance products, and the ability to receive offers such as F&B vouchers and sticker rewards from local partners, such as online dining guide OpenRice.
The joint venture is expected to be completed by the end of 2017, subject to regulatory approval.
