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Chow Tai Fook to Accept WeChat Payments

Retailer signs deal with online giant Tencent.
Dec 17, 2018 7:20 AM   By Rapaport News
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RAPAPORT... Chow Tai Fook has signed a memorandum of understanding (MoU) with online giant Tencent that will enable its customers to complete transactions using WeChat Pay, the Hong Kong-based jeweler said Monday.

Beginning next year, Chow Tai Fook will allow customers to pay for purchases via the app’s electronic-payment platform in designated stores in mainland China. It will gradually roll out the feature to further stores at a later date.

“We are committed to providing [a] seamless and exceptional consumer experience through a wide range of innovative projects,” said Bobby Liu, executive director of Chow Tai Fook. “The introduction of advanced technology has made the convenience in offering cross-border consumption, online payment and an integrated online-to-offline shopping experience available to customers from Hong Kong.”

The jeweler will expand payment by WeChat to some of its other brands; It also owns T Mark, Hearts On Fire, Monologue and Soinlove.

Chow Tai Fook and Tencent will also collaborate on “intelligent consumption” opportunities that will include an ID verification for Chow Tai Fook’s membership program, which uses mobile scanning.

“Tencent technology will vigorously promote cross-border financial cooperation,” said Royal Chen, vice president of Tencent Financial Technology. “Leveraging financial and technological advancements, we aim to build a truly integrated service platform for those living in both Hong Kong and mainland China.”

Image: From left: Howe Zheng, vice president Tencent Financial Technology; Bobby Liu, and Royal Chen. (Chow Tai Fook)
Tags: Bobby Liu, Chow Tai Fook, Hearts On Fire, Monologue, Rapaport News, Royal Chen, Soinlove, T Mark, Tencent, Tencent Financial Technology, WeChat Pay
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