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While We Chat Wallet may not have won over Hong Kong just yet, Pony Ma’s recent remarks show that Tencent have no intention of giving up and seeing as Alibaba’s stranglehold on the local mobile payment industry is steadily loosening, Tencent have reason to be optimistic.
If Tencent manage to secure numerous deals with HK retailers and add the missing payment features OR come up with new localized payment features, We Chat Wallet is sure to become an essential component of the HK digital payment sector in the near future.
Nowadays, We Chat Wallet’s offerings in Hong Kong have expanded and users can finally make in-store payments or transfer money to their contacts, but Mainland China users still have access to additional features, such as utility fee payments.
She also covers the Chinese and Southeast Asian start-up scene.
Zen is passionate about all things social and is particularly interested in O2O and the burgeoning hardware scene in Shenzhen.
Excluding the Chinese mainland, We Chat’s usage growth has almost doubled in Asia-Pacific over the last year.
We Chat’s 97 per cent usage growth surge was attributed to the app’s “versatility”, said Global Web Index in its latest report on We Chat.