Macau | Wechat Payment value exceeded MOP50 mln during Chinese New Year

Macau (MNA) – Over MOP50 million was transacted in the city via the use of Wechat Payment during the Chinese New Year holiday in February, Zheng Kai (pictured, top), the deputy CEO of Industrial and Commercial Bank of China (ICBC Macau) said on Tuesday.

In October, ICBC Macau collaborated with Tencent to launch Wechat Payment services in Galaxy Macau – a casino property in the city – enabling mainly Chinese tourists to shop in the MSAR with the mobile payment.

Speaking at the event held today to launch ICBC’s latest credit card, Zheng said the amount of Wechat Payment transactions had reached some MOP10 million to MOP20 million during the months of November and December of last year.

Following the launch of the mobile payment, the Deputy CEO said other local banks were already providing Wechat Payment services, covering a wide range of shops in the city, from retail stores to restaurants.

He stressed that more than 1,600 stores provide Wechat Payment, with over half of collaborating stores small and medium-sized enterprises (SMEs).

When asked whether mobile payment services would be extended to local users, Mr. Zheng said they are currently having talks with Tencent, adding that they are not ruling out the possibility of introducing an alternative but similar service exclusively tailored for the use of local residents.

Regarding the possible timetable for the service, he said: “It is just the start of the year, I think there are a lot of possibilities that could happen [during the year].”

ICBC Macau has launched a new credit card that the company said complements the development of the initiative of the Big Bay Area. Cardholders will enjoy a series of discounts for expenditure relating to entertainment, food and beverages and transportation in the region.

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

Wilfred Wong, President and COO of Sands China (pictured, third left), and Wu Long, CEO of ICBC Macau (pictured, fourth left), also attended the launch ceremony.