Payment service WeChat Pay HK has further expanded the merchant network accepting its Hong Kong dollar-denominated e-wallet payment service to cover all cities in mainland China.

Wherever Weixin Pay – a yuan-denominated e-wallet mainly used by mainland residents – is accepted, users can pay in HKD across both online and offline merchants. The transaction amount in Chinese yuan automatically converts to HKD, facilitating, the company says, “a seamless and efficient payment experience”.

WeChat Pay HK users benefit from zero transaction fee for spending made through HK credit cards, bank accounts or wallet balances, eliminating the necessity for binding a mainland bank card or mobile number on Weixin Pay.

WeChat Pay HK also secures the best exchange rate for its users through comparison across partnering banks, enhancing the value of cross-border expenditures. Significantly, for verified users, the per transaction limit is raised to HK$38,000, with the yearly aggregate transaction threshold elevated to HK$400,000.

“WeChat Pay HK is the first-ever overseas e-wallet to be used in Chinese mainland,” says Daniel Hong, vice-president of Tencent Financial Technology, the fintech arm of Tencent, the owner of WeChat and Weixin. “As cross-border spending reaches record high, it leverages the extensive merchant network of Weixin Pay to enhance shopping experience for HK users in areas, ranging from online platforms – such as Meituan, Dazhongdianping, Pinduoduo and JD.com – to offline retail, food and beverage.”