(BlockBar) AlipayHK, Alipay Hong Kong version, has got the permission to be used nationwide.
AlipayHK was launched in May 2017, operated by Alipay Financial Services (HK) Limited (APSHK), the world’s top financial technology enterprise and the parent company of Alipay and supervised by the Hongkong monetary authority. APSHK is a joint venture managed by CK Hutchison Holdings Limited, which is a large multinational company in more than 50 countries, and APSHK.
At present, there are more than 50,000 retailers in Hongkong supporting Alipay’s electronic wallet payment, including large chain stores, convenience stores, pharmacies, supermarkets, minibuses, markets, taxis, restaurants, etc. AlipayHK currently has more than 2 million users, with an average of 1 in 3 Hong Kong users using AlipayHK. According to the latest third-party survey, there are on average three e-wallets per mobile payment user in Hong Kong, while Alipay HK is the preferred e-wallet for Hong Kong people with a utilization rate of over 53%.
It’s not hard to find that AlipayHK and Libra have very similar goals, that is, to make more people enjoy convenient and cheap financial services. However, there are some obvious differences between AlipayHK and Libra on the specific approach. Libra has introduced a Gimini dollar (GUSD ), as a medium of intra-ecological circulation, supported by a variety of legal currencies. AlipayHK, in cooperation with transnational banks and other countries’ electronic wallets, relies on the alliance chain to achieve cross-border remittances, which do not involve digital tokens.
In addition to accelerating the distribution of cross-border remittances, Alipay HK also provides a wide range of leisure and convenience services for Hong Kong users. At present, it has supported cross-border payment, P2P transfer, dividend payment (bonus package), international remittance of block chain, telecommunications or daily payments, payment of Taobao and Tianmao Platform, Hong Kong horse race tickets and catering vouchers, purchase of insurance products provided by third parties, collection of electronic gift vouchers, and access to electronic printing, etc.
Since March 1, 2019, AlipayHK has launched the “cross-border payment service in Greater Bay Area”. Users can directly pay with AlipayHK in some businesses in nine mainland cities in Guangdong-Hong Kong-Macao Greater Bay Area, without prior exchange. In July 21, 2019, AlipayHK was granted the general national license. The scope of its mobile payment services will be extended to the rest of the country.
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