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.
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.
B2B enterprises in Hong Kong are less satisfied with current digital payment capabilities than their B2C peers, while procurement continues to rely on traditional payment methods.
Hong Kong will finally have a policy framework for an open application programme interface, cutting payment barriers and enhancing competition in the payment services sector
CT spoke with DFS and Tencent to find out how treasurers are surfing the WeChat Pay phenomenon and why PSP settlement is giving the e-pay platform the edge
Aug 2, 2017
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