HONG KONG and HANGZHOU - 26 September 2017 - CK Hutchison Holdings ("CK Hutchison"), a multinational conglomerate spanning over 50 countries, and Ant Financial Services Group ("Ant Financial"), a leading global technology and financial services company and parent company of Alipay, today announced a strategic partnership. The two companies will form a joint venture ("JV") to offer a consumer-oriented digital wallet under the 'AlipayHK' brand, which will further integrate online and offline payments to bring a truly universal experience for consumers.
Dedicated to local-currency payments in Hong Kong, AlipayHK attracted over 100,000 active users in the first two weeks after its launch last May. The mobile app is now accepted in over 4,000 leading retail brand outlets in Hong Kong. On top of in-store payment services, AlipayHK also enables many in-app lifestyle features such as third-party insurance products, and the ability to receive offers such as F&B vouchers and sticker rewards from local partners, such as online dining guide OpenRice.
With a tech-savvy population and over 50 million visitors annually, Hong Kong is an ideal place to integrate digital innovation into the traditional retail experience. The new partnership will promote a more efficient and productive cashless society in Hong Kong.
CK Hutchison's core businesses range across ports, retail, infrastructure, energy and telecommunications. With a strong global presence, CK Hutchison Group and its affiliated companies' consumer networks have over 124 million retail loyalty members and over 123 million telecom and 35 million utility customers. In Hong Kong, they have over 600 stores selling telecommunications, food, electronics, wine and health and beauty products serving over 6.6 million Hong Kong telecom and retail loyalty customers. Through the Group's affiliated companies, the JV will have the opportunity to serve many property and utility households.
Ant Financial provides a wide range of digital services to over 520 million users in China and beyond. Through the Alipay app, Chinese Mainland users can hail taxis, book hotels, buy movie tickets, pay utility bills, make doctor appointments, purchase wealth management products and manage their finances. Ant Financial is also providing digital inclusive financial services to over 250 million overseas users through strategic partnerships in India, Korea and Southeast Asia.
"The joint venture represents a remarkable step in the evolution of the consumer experience. By leveraging CK Hutchison's extensive market presence and combining its commercial experience with Ant Financial's technology expertise, we will bring great benefits not only to our telecom, retail, and other customers of the Group, but also to all businesses in Hong Kong. This will, in turn, create greater shareholder value," said Canning Fok, Group Co-Managing Director of CK Hutchison.
"There are millions of people travelling across the Guangdong-Hong Kong-Macau Greater Bay Area every month. Ant Financial is dedicated to bringing digital financial inclusion to the citizens in the region and help them to create a more convenient and productive lifestyle," said Eric Jing, CEO of Ant Financial. "We believe that our users will enjoy the tremendous benefits delivered through this strategic partnership in the near future."
The joint venture is expected to be completed by the end of 2017, subject to regulatory approval.
About CK Hutchison Holdings Limited
Listed on The Stock Exchange of Hong Kong Limited, CK Hutchison Holdings Limited (CK Hutchison) is a renowned multinational conglomerate committed to innovation and technology with businesses spanning the globe. With operations in over 50 countries and over 290,000 employees worldwide, CK Hutchison has five core businesses - ports and related services, retail, infrastructure, energy and telecommunications.
CK Hutchison reports turnover of approximately HKD373 billion (USD48 billion) for the year ended 31 December 2016.
For more information, please visit www.ckh.com.hk
About Ant Financial
Ant Financial Services Group is focused on serving small and micro enterprises, as well as consumers. With the vision "bring the world equal opportunities" and working towards "inclusion, technology and globalization," Ant Financial is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit and MYbank.
For more information on Ant Financial, please visit our website at www.antgroup.com or follow us on Twitter @AntFinancial.
|CK Hutchison Holdings Limited||Ant Financial|
|Hans Leung||Xinyun Yang|
|Tel: +852 2128 1370||International Communications|
|Email: HansL@ckh.com.hk||Tel: +86 1381 6896 301|
|© Copyright 1996-2017 irasia.com Ltd. All rights reserved.|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited.