Date
20 October 2017

Alibaba units, Octopus team up for payment solution, report says

Alibaba Group units Taobao.com and Alipay are teaming up with Hong Kong-based Octopus Cards Ltd. to jointly launch an online payment service, becoming the first smart card payment solution deploying Near Field Communication (NFC) technologies in Hong Kong, news website etnet.com.hk reported Monday. Details of the cooperation will be disclosed soon, it said. Earlier, 336 outlets of OK convenience stores, 90 Bonjour cosmetics outlets and 19 Giordano stores had begun accepting payments through Alipay’s mobile wallet app, with the payment amount converted into renminbi and debited from the buyer’s account. Alipay is also planning to enter the retail market of South Korea in the near term, the report said. Octopus Cards Ltd. is the company behind the Octopus rechargeable contactless stored value smart cards used in electronic payments systems in Hong Kong.

– Contact HKEJ at [email protected]

EL/MY/RC

 

EJI Weekly Newsletter

Please click here to unsubscribe