Digital payment services in Hong Kong expanded

Hong Kong has moved a step forward in building a smart transportation network, with Weixin Pay and WeChat Pay HK, the Chinese mainland version and Hong Kong version of internet giant Tencent's digital payment platform respectively, being used in more transport tools in the city.

According to the company, Weixin Pay and WeChat Pay HK have integrated with Hong Kong's New Lantao Bus, Tramways, Citybus and Star Ferry, expanding their services beyond MTR, Kowloon Motor Bus and Long Win Bus.

That means both Weixin Pay users from the Chinese mainland and WeChat Pay HK users from Hong Kong can pay with their respective digital wallets in Hong Kong, further enhancing cross-border payments.

The development plan for the Guangdong-Hong Kong-Macao Greater Bay Area emphasized that the 11-city cluster should develop a quality living circle with excellent public services for living, working and traveling, said Li Peiku, president of international business at Weixin Pay.

"By expanding services to more travel scenarios in Hong Kong, we hope to contribute to the development of smart mobility in the Bay Area from the mobile payment perspective and bring more convenient living experiences to users," he said.

The launch of the new services marks a milestone in Hong Kong's ongoing efforts to build a smart city, in which smart mobility forms an integral part. The Hong Kong Special Administrative Region government unveiled the Smart City Blueprint for Hong Kong 2.0 in 2020, putting forth over 130 initiatives in areas including smart mobility, smart living, smart environment, smart people, smart government and smart economy.

Meanwhile, cross-border payment is also becoming more widespread, as a growing number of Hong Kong residents travel to Shenzhen.

According to the Shenzhen branch of the People's Bank of China, or the central bank, more than 35 million noncash payment transactions were made by Hong Kong residents in Shenzhen last year, amounting to 8.58 billion yuan ($1.2 billion).

Shenzhen has launched various means of cross-border payment tailored for Hong Kong residents and other inbound travelers to promote financial connectivity in the Bay Area, Vice-Mayor of Shenzhen Wang Shourui said. They include WeChat payment wallets compatible with foreign cards, digital RMB wallets, payment advisory services, remote assistance and cash exchange services.

The city will coordinate resources to provide more quality, efficient and convenient payment services for consumers working, living, entertaining or traveling there, Wang said earlier this month.