Chow Tai Fook to Accept WeChat Payments

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)