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Stripe launches in Hong Kong, with Alipay and WeChat partnerships

Alex Spencer

US mobile payments firm Stripe has launched in Hong Kong, accompanied by two major partnerships with Chinese companies – WeChat and Alipay.

Stripes' offering now supports both Alipay and WeChat Pay, which between them accounted for 92 per cent of the Chinese mobile wallet market in 2016.

According to Stripe's head of southeast Asia, Piruze Sabuncu, this move is "connecting Stripe businesses in 25+ countries to the hundreds of millions of Chinese consumers that actively use these payment methods."

As part of the launch, Stripe is also introducing support for Hong Kong users to get paid out in US dollars, without currency conversion, to local bank accounts which use dollars as their primary currency.

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