Digital wallets gain traction in Hong Kong, but credit cards to remain strong: report
Research from Worldpay revealed that digital wallet payments are set to overtake credit cards by 2027 in the city, taking up nearly half of all transactions. While Ant is expanding Alipay+ globally.
By 2027, 41% of all e-commerce spending in Hong Kong is expected to be conducted via digital wallets, including the likes of Alipay, WeChat Pay, PayPal and PayMe from HSBC, research suggests. Meanwhile, 42% of point-of-sale (POS) transactions will also be via digital wallets in the city.
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