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2021 July
Leverage e-Payment to Capture Unlimited Business Opportunities

WeChat Pay HK is one of the e-payment providers selected to dole out HKD5,000 consumption e-vouchers shortly. Serin Ko, Associate Director of Strategic Partnership at WeChat Pay HK, hopes that the launch of consumption vouchers will spur the adoption of e-payment and help SMEs better expand their business.

 

Ko believes that the vast majority of Hong Kong people know WeChat, and WeChat Pay HK is a brand-new WeChatbased e-payment platform for Hong Kong users. “WeChat Pay HK has 3.8 million users in Hong Kong, which is quite an impressive penetration rate.”

 

Benefits of e-payment are evident

Ko said further that coinciding with the Government’s launch of consumption vouchers, WeChat Pay HK can use its strong social network to help SMEs expand their business amid the pandemic. “For example, WeChat Pay HK’s QR code for collecting payments, which we launched last year, is a very convenient one-stop payment collection solution with a very simple process.”

 

There is zero contact between the merchant and the consumer throughout the entire e-payment transaction process, effectively reducing the risk of virus transmission amid the COVID-19 pandemic. Therefore, the Food and Environmental Hygiene Department last year actively encouraged market merchants to adopt e-payment methods and distributed HKD5,000 subsidy to eligible operators of market stalls. Ko added that WeChat Pay HK has a big advantage over other e-payment platforms, e.g. for its QR code for payment collection, the opening process can be completed in as quickly as five minutes; in addition, there is zero hardware cost.

 

Leverage e-payment for business expansion

Ko noted that it will definitely help merchants develop their business if they know how to leverage WeChat’s wealth of e-commerce experience and strong social platforms. In summary, she believes that merchants must focus on three aspects. “The first is how to get customers. At present, many merchants post promotional messages through their WeChat Official Accounts, and WeChat Pay HK can play an important role in this, e.g. when a customer spends at Merchant A, WeChat Pay HK can direct the customer to Merchant B’s Official Account so that the customer can become a potential customer of Merchant B.”

 

In addition, activating customers is also very important. She said that WeChat Pay HK will regularly run promotions and post information on offers on its official website. Merchants can promote their business by partnering with WeChat. The final aspect is how to retain customers. Ko believes that merchants can partner with WeChat to launch membership and point systems, which will form a consumer ecosystem in the long run, and encourage customers to continue using the merchants’ products.