Chow Tai Fook Jewellery Group has signed a memorandum of understanding with Chinese online platform Tencent to allow jewellery purchases using WeChat Pay.
In a move to promote “seamless cross-border intelligent consumption”, the agreement allows Hong Kong WeChat users to use the platform’s digital payment solution to make purchases at specified Chow Tai Fook jewellery stores in Mainland China.
The group is planning steps to activate WeChat Pay HK within more Chow Tai Fook Jewellery stores in the Greater Bay Area, as well as other cities throughout Mainland China. It is also seeking to extend the payment agreement to its other brands.
“Striving for innovations and breakthroughs, we are committed to providing seamless and exceptional consumer experience through a wide range of innovative projects,” said Chow Tai Fook executive director Bobby Liu. “The introduction of advanced technology has made the convenience in offering cross-border consumption, online payments and an integrated online-to-offline shopping experience available to customers from Hong Kong.”
Tencent Financial Technology VP Royal Chen said the collaboration with Chow Tai Fook Jewellery Group will fully make use of the available mobile payment technology.
“Tencent Technology will vigorously promote cross-border financial cooperation. Leveraging financial and technological advancements, we aim to build a truly integrated service platform for those living in both Hong Kong and Mainland China.”
Tencent Fin-Tech and Chow Tai Fook will also jointly explore and research proposals for ID verification in order to ease the flow of capital and manpower resources across the border.