Ant Financial Services, CK Hutchison Will Jointly Operate Alipay HK
Zhang Xia
/SOURCE : Yicai
Ant Financial Services, CK Hutchison Will Jointly Operate Alipay HK

(Yicai Global) Sept. 27 -- Alibaba Group Holding Ltd.'s [NYSE:BABA] Ant Financial Services Group said yesterday that it will jointly operate the Hong Kong version of its electronic wallet, Alipay HK, with CK Hutchison Holdings Ltd. [HK:0001], enhancing consumers' payment experiences in the region.

The two parties will leverage their resources to develop online and offline mobile payment services in Hong Kong, bringing a full range of shopping and payment options to consumers, CNR.cn reported.

Alipay announced the introduction of Alipay HK in May, offering Hong Kong residents mobile payment and financial services. More than 4,000 well-known Hong Kong retailers have accesses to Alipay HK's QR code payment services.

CK Hutchison is a global company with core operations in retail, infrastructure, energy and telecommunications. It runs over 600 stores in Hong Kong, providing consumers with telecoms services, and selling food, electronics, wine and health and beauty products.

Combining CK Hutchison's large network and business experience with Ant Financial's expertise will benefit telecommunications, retail and other customers of CK Hutchison as well as other commercial institutions in Hong Kong, said Canning Fok, co-managing director of CK Hutchison.

Millions of travelers move in and out of the bay area, and Ant Financial is trying to provide a set of electronic financial services to the region to make life easier for users, Ant Financial Chief Executive Jing Xiandong said.

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Keywords: Alipay , Electronic Financial Services , Mobile Payment , Hong Kong