AlipayHK and BOC Hong Kong launch new consumer installment plans

AlipayHK and Bank of China (Hong Kong) have announced a new partnership offering interest-free and fee-free installment options for BOC Hong Kong credit card holders. Through the AlipayHK app, customers shopping on Taobao can select specific items marked with an interest-free installment label to enjoy up to 12 installments without additional fees.

In addition to the Taobao benefits, the collaboration includes promotional coupons. Users can claim vouchers via the AlipayHK app to offset installment fees at various online and offline merchants, including Trip.com, Klook, HK Airlines, Xiaomi, and Lukfook Jewellery, through December 31.

BOC Hong Kong noted that customer transaction volumes for Taobao installment payments increased by over 10% year-on-year in the third quarter, driving the expansion of these flexible payment services.