Tencent’s WeChat Pay online payment system is set to incorporate its Hong Kong version into mainland Chinese services, the South China Morning Post reports, allowing consumers to pay mainland merchants in Hong Kong dollars.
The upgrade will be completed by October, said Tencent in a statement.
Service companies such as Didi Chuxing and Meituan-Dianping will accept payments from WeChat Pay HK – the platform’s Hong Kong version – with currencies being converted automatically with each transaction by the app. Exchange rate information and services will also be available to users.
Currently WeChat Pay HK only functions in the special administrative territory and is not transferable with the mainland.
“The cross-border mobile payment will greatly increase the collaboration opportunities for both Hong Kong and mainland Chinese businesses,” said Tencent president Jim Lai. “This exchange of culture, talent and the stimulation of economic activity across a wide variety of sectors will serve to strengthen the mutual relationships between Hong Kong and mainland China.”
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