CK Hutchison Holdings, a multinational conglomerate spanning over 50 countries, and Ant Financial Services Group, the parent company of Alipay, have announced a strategic partnership to offer a consumer-oriented digital wallet under the AlipayHK brand.
The partnership is meant to further integrate online and offline payments to bring a truly universal experience for consumers, according to a press release.
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, according to the release.
On top of in-store payment services, AlipayHK also enables many 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.