Payment value

Macao | Wechat Payment Value Surpassed MOP 50 Million During Chinese New Year

Macau (MNA) – More than 50 million MOP were traded in the city through the use of Wechat Payment during the Chinese New Year holidays in February, Zheng Kai (photo, top), Deputy CEO of Industrial Bank and China Commercial (ICBC Macau) said Tuesday.

In October, ICBC Macau worked with Tencent to launch Wechat payment services in Galaxy Macau – a city casino – primarily allowing Chinese tourists to shop in Macau SAR with mobile payment.

Speaking at the event held today to launch ICBC’s latest credit card, Zheng said that the amount of Wechat payment transactions reached some MOP 10-20 million during the months of November and December of last year.

After the launch of mobile payment, the deputy general manager said that other local banks are already providing Wechat payment services, covering a wide range of stores in the city, from retail stores to restaurants.

He pointed out that more than 1,600 stores provide Wechat Payment, with more than half of the collaborating stores of small and medium enterprises (SMEs).

When asked if mobile payment services will be extended to local users, Zheng said they are currently in talks with Tencent, adding that they are not ruling out the possibility of introducing an alternative service but similar exclusively suitable for use by local residents.

Regarding the possible timing of the service, he said: “This is only the start of the year, I think there are a lot of possibilities that could arise. [during the year]. “

ICBC Macau has launched a new credit card that the company says complements the development of the Big Bay area initiative. Cardholders will enjoy a series of discounts for spending on entertainment, food and drink, and transportation in the area.

As for MSAR consumers, although the discounts offered by the new credit card would mainly focus on Sands China stores, Zheng said they will gradually invite other local stores to participate in the project.

Wilfred Wong, president and chief operating officer of Sands China (photo, third from left), and Wu Long, CEO of ICBC Macau (photo, fourth from left), also attended the launch ceremony.

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