Omnichannel integration boosts Hong Kong digital payments

Cross-border wallet collaborations are driving digital payments in Hong Kong.

As digital payments evolve in Hong Kong, merchants are rapidly moving from brick-and-mortar models to omnichannel setups that integrate seamless payment solutions, according to Joseph Chan, Chief Executive Officer at AsiaPay. This shift, driven by consumer demand for flexibility and ease, is reshaping the retail and e-commerce landscapes.

Chan explained that more businesses are adapting to omnichannel online-to-offline (OTO) solutions to meet customers where they are and provide a frictionless payment experience.

A growing trend in the market is the expansion of digital wallets, which enhance sales conversions by catering to consumers' preferences for convenient and secure transactions. “There are more and more wallet [options] coming to the market to meet the satisfaction of the consumers,” Chan said.

Cross-border payment capabilities are also on the rise as domestic wallets collaborate across regions, enabling users to make transactions outside of their home country. Chan highlighted this shift: “There are more joint effort collaborations across domestic wallets in the region…so that customers can make use of their wallet overseas in the future.”

In response to these changes, AsiaPay has expanded its reach, now covering major Asian markets including Singapore, Malaysia, Thailand, and the Philippines, with plans to enter Cambodia, Canada, and the UK.