Tenpay, Alipay licenses key to overseas growth

Mobile payment licenses from Hong Kong's financial authorities to two mainland payment operators are seen as a key step in their overseas strategic expansion and are expected to boost their business in the city, analysts said on Friday.

Tencent Holdings Ltd and Alibaba Group Holding Ltd's financial affiliate Ant Financial were granted licenses from the Hong Kong Monetary Authority on Thursday to operate their mobile payments there, the first license the two tech giants have obtained overseas.

It means the two companies can not only continue to serve retail stores in Hong Kong, but also provide digital wallets and merchant discounts for their Hong Kong customers.