(Yicai Global) Nov. 30 -- Tencent Holdings and Hang Seng Bank, part of HSBC Group, will join hands to help Chinese users of social media application WeChat open bank accounts in Hong Kong and pay via the mobile app in the special administrative region.
Hang Seng Bank and Tencent have agreed to partner to give customers innovative fintech services, the Hong Kong-based lender said in a statement yesterday.
The firms will enable Chinese customers to open bank accounts in Hang Seng Bank via a WeChat mini-program. Hang Seng will allow users of the Shenzhen-based company's WeChat Pay to settle transactions with merchants in Hong Kong. WeChat Pay entered the southern island region on Oct. 1.
"This collaboration will help both firms provide Hong Kong and mainland China customers with a growing range of efficient and convenient services that meet their evolving needs," said Gilbert Lee, the lender's head of strategy & planning and chief of staff.
"This deeper cooperation between Tencent and Hang Seng will further promote fintech development in Hong Kong," said Philip Ma, the vice-president of Tencent Financial Technology.
Editor: Emmi Laine