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Sun Hung Kai, Tencent launch mobile payment partnership in Hong Kong

Hong Kong developer Sun Hung Kai Properties Ltd. and internet giant Tencent Holdings Ltd. formed a partnership to establish Hong Kong's biggest mobile payment activation program to date, which will cover the real estate giant's 23 major malls in the city.

At a joint press conference held by the two companies in Hong Kong Oct. 18, the duo said the new integrated technology would introduce a more convenient, seamless and secure method for consumers to make payment for their purchases at Sun Hung Kai malls. The initiative will also be implemented in the real estate giant's cellphone subsidiary, SmarTone Telecommunications Holdings Ltd., as well as across its YATA department stores and supermarkets.

The joint venture will draw on Tencent's WeChat Pay HK platform and related technologies.

Sun Hung Kai Executive Director Christopher Kwok said in a statement that the partnership was part of its plans for a new generation of high-tech malls that would focus on customer experience with intelligent technology.