Banking News

Livi Launches as Hong Kong’s Fourth Virtual Bank

Livi Launches as Hong Kong’s Fourth Virtual Bank

(14 August 2020 – Hong Kong) Livi has launched with a slightly different customer acquisition strategy, marking the fourth virtual bank to enter the Hong Kong market.

Backed by Bank of China (Hong Kong), e-commerce giant JD.com and Jardine Matheson, Livi is placing greater emphasis on its electronic payment system for its launch strategies, as opposed to offering attractive rates which all of the other three virtual banks that have already kicked off thus far have done. http://eastandpartners.com/publications/banking-news/welab-debuts-as-hong-kongs-third-virtual-bank

In partnership with card payment firm UnionPay, customers can quickly enable transactions simply by scanning QR codes on a mobile. Upon transacting with the UnionPay QR code, customers can also shake their phone for cash rewards – “shake shake” rewards – with up to three attempts per day.

The launch is accompanied by an array of promotions which includes a HK$100 cash reward upon registration and another HK$100 for the first ten successful referrals.

“Our debut offering is just the start and there is more to come. We are building our ecosystem amongst popular brands in Hong Kong to bring more amazing offers to our customers. We look forward to giving people in Hong Kong an everyday boost to their lives, with a lifestyle-driven banking experience they will enjoy,” said Livi Chief Executive David Sun.

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