QR code payments gain popularity in Hong Kong’s retail space
The mobile payments have expanded rapidly in the SAR, led by Chinese tech firms. Payment providers expect more use cases to be explored, as well as integration with traditional payment methods such as credit cards.
Quick Response (QR) code-based payments, led by Alipay and WeChat Pay, have expanded greatly in Hong Kong since the outbreak of the pandemic and the government’s consumption voucher handout, which was available on both Alipay and WeChat Pay. Back then, the two mobile applications benefitted from a wider range of use cases of these vouchers, becoming a preference by citizens over traditional payment methods, including Octopus cards.
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