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Several mobile wallets now have license to operate in Hong Kong (BABA)

This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. Ant Financial and Tencent, the parent companies of major Chinese mobile wallets Alipay and WeChat Pay, as well as three other firms, obtained stored-value licenses to operate for customers in Hong Kong, according to Bloomberg. These licenses, issued by the Hong Kong Monetary Authority, allow users to store money in local versions of the wallets, thereby simplifying operations in Hong Kong.
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