Hong Kong virtual lender livi bank has launched a QR payment service allowing its customers to make cashless payments in mainland China and other popular travel destinations such as Japan, South Korea and Thailand.
In mainland China, the service allows customers to make QR payments through a single platform or app at over 29 million QR code-enabled merchants, promising a hassle-free experience following the border reopening and easing of pandemic-related measures.
As the first cross-border QR payment solution from a Hong Kong virtual bank, livi QR Payment integrates with UnionPay’s payment and merchant network. Payments are automatically settled in Hong Kong dollars at UnionPay’s exchange rates, with no handling fees and charges on currency exchange.
Customers can set a valid period for using the service, and can turn it off at any time. All transactions can be tracked, and customers will receive instant notifications.
Under the bank’s “Shake, Shake” rewards system, customers who pay via livi QR Payment can earn rewards of up to HK$500 per calendar month, which can be redeemed on the next spending. The offer is good until March 31.
The bank’s QR payment is widely accepted in mainland China, Macau, and other parts of Asia-Pacific, wherever the UnionPay QR label is presented. It covers an extensive range of industries including food and beverage, hospitality, entertainment and retail.
The virtual bank is backed by BOC Hong Kong (Holdings), JD Technology and the Jardine Matheson Group.