AlipayHK Launches Cross-Border Blockchain Remittance Service

Asia Blockchain Review
July 30, 2019

AlipayHK, Alipay’s service for users in Hong Kong, recently announced the launch of a cross-border remittance service offered through its digital wallet platforms. The service is powered by blockchain technology developed by Alipay, the online payment platform operated by Ant Financial Services Group.

According to a report by, senders and receivers on the blockchain platform are able to trace the money transfer until it reaches its destination, resulting in reliable and fast online transactions.

Hong Kong’s First Cross-Border Payment Service Backed by Blockchain

This service marks the first blockchain-based, cross-border, digital wallet remittance service in Hong Kong. It reportedly offers a fast, secure, convenient, transparent, and cost-efficient way to transfer money directly between individuals in Hong Kong as well as in other countries.

“We are the very first Hong Kong digital wallet to offer nationwide services in China; Hong Kong users are able to travel in the mainland of China just with a smartphone,” the Alipay HK team said. 

With the blockchain-based platform, AlipayHK users will be able to make instant online transactions, conduct cross-border remittances, purchase insurance, as well as earn rewards from using the services.

E-Wallet Adoption Grows in Hong Kong 

The inclusion of blockchain-based services comes as e-wallets see greater adoption in the special administrative region. So far, over 20,000 Hong Kong businesses have accepted e-wallet payments, ranging from major retailers, supermarkets, and fresh markets to transport services. 

Features of electronic wallets include payment on Taobao and TMall, peer-to-peer transfers, utility payments, mobile service payments, and more, making Hong Kong residents’ lives more convenient by expanding the kinds of payments that can be completed via mobile devices.

In addition, AlipayHK is currently collaborating with Hong Kong authorities to develop a QR payment service for subway stations. The solution is expected to be released next year.  


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Blockchain: Fine-tuning the Music Industry
Music might be in need of another tech disruption in the form of blockchain.

July 17, 2019

Graph Blockchain Secures Contract with South Korean Transport Ministry
The pilot project is for storing traffic data on a blockchain network as part of the Smart City nati...

July 13, 2019

Hong Kong, a Great Place for Blockchain Startups
It is quite evident that Hong Kong is quite rapidly developing to be a blockchain hub in the region ...

July 12, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us