WeChat Payment, the paying solutions service of Tencent Holdings (00700.HK), has begun to collaborate with Hong Kong retailers as part of overseas expansion efforts.
Over 2,000 supermarkets and convenience stores of China Resources Group, including CR Vanguard, U-select, VanGo, Voi_la, and CR Care, can now accept renminbi payment using Quick Response Code technology, the Hong Kong Economic Journal reported.
WeChat Payment expects the usage of its service to double or even triple next year from current levels, general manager Wu Yi told the paper.
There were over 200,000 traditional physical vendors connected to the system as of the end of September.
Meanwhile, more than 200 million people are said to have linked their bank cards with WeChat Payment or Tencent’s QQ Money.
WeChat has started to charge 0.1 percent administration fee on users who transfer more than 20,000 yuan through the system in a month.
That will help the company pass on some costs to users.
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