(Yicai Global) Feb. 27 -- Hong Kong users of Ant Financial Services Group's mobile payment platform Alipay may start paying for services even offline in the Greater Bay Area, as well as in Japan at the start of next month.
Netsunion Clearing, a clearinghouse platform backed by China's central bank, has embarked on its first cross-border settlement partnership with Alipay HK, the Hong Kong division of the Hangzhou-based fintech firm said in a statement yesterday.
The first merchants to participate in the program will be convenience store chains 7-Eleven and FamilyMart, Watsons, grocers Carrefour and Metro, as well as McDonald's, Starbucks, and Muji.
An increasing number of Hong Kong residents are coming to China's mainland and diversified payment methods will greatly benefit business, shop owners in the Guangdong-Hong Kong-Macao Greater Bay Area told Yicai Global. China's government included electronic payments in its plan to integrate the regions, according to a document released on Feb. 18.
Alipay has launched nine versions of its payment platform to localize in countries including India, Thailand, and the Philippines. The firm is working toward releasing offline payments in these regions too, it said.
Editor: Emmi Laine