The expanded features include a new quick pay function targeted at merchants able to implement WeChat Pay into existing point of sales systems, such as restaurants, supermarkets and stores.
Individuals, taxi services, family stores and business owners will meanwhile be able to take payments without having to set up costly payment terminals via the Receive Money via QR Code function.
Finally, a new checkout system - targeted at SMEs including a simple payment system and a platform for marketing initiatives such as coupons - is expected to launch in December.
WeChat Pay HK was granted a stored value facilities license by the HKMA last year and has since introduced features including social payment, online shopping and remittance services.
“The usage of various kinds of Stored Value Facilities is gaining popularity in Hong Kong. We are glad to see WeChat Pay HK’s efforts in promoting mobile payment, offering consumers and businesses more payment solutions and choices throughout the city,” HKMA CFO Nelson Chow commented.
“We are excited to launch the new WeChat Pay features in Hong Kong, embracing Hongkongers’ growing passion for mobile payment and making their daily lives easier whenever, wherever,” added Tencent general manager Norman Tam.
“On the business front, this universal payment solution enables merchants to enhance customer engagement and loyalty via the strong WeChat ecosystem.”