Tencent Holdings Ltd. is a Chinese multinational technology conglomerate and holding company headquartered in Shenzhen. It is one of the highest grossing multimedia companies in the world based on revenue. It is also the world's largest company in the video game industry based on its equity investments. Apple fans in China use Tencent's popular WeChat which is a Chinese instant messaging, social media, and mobile payment app. Apple and Tencent are trying to iron out a deal to keep WeChat on iOS longer term.

In a Tuesday press release we learn that "Palm payments will now be possible at the Galaxy Macau resort under a new collaboration with ICBC (Macau) and Weixin Pay.

According to Tencent, the Shenzhen-based tech giant behind the mobile payment service also known internationally as WeChat Pay, the collaboration is the first application of the palm-scanning payment service outside the Chinese mainland.

“The underlying technology relies on the recognition of both palmprint and palm vein to create a touchless and high-accuracy user experience,” Kai Xia, head of Weixin Pay Hardware Innovation, told a launching ceremony attended by Macau government officials in support of the partnership.

The first phase of the collaboration involves 60 shops and retail outlets at StarWorld Hotel, Galaxy Macau, Broadway Macau, and Galaxy Arena.

Meanwhile, promotional campaigns are underway to encourage the new spending experience in the city.

The new initiative comes as the Macau authorities are tapping into digitalization and technology in a push to upgrade small and medium-sized businesses in traditional industries.

In China, the shift towards cashless transactions is nearly complete. Alipay & WeChat Pay accounted for over 90% of all digital payments made in China – so Apple Pay is of little consequence.

Tencent's contactless service — launched in May 2023 — has already been widely available in retail, dining, transport, and power bank rentals in mainland China. Whether the new Tencent/WeChat Pay system will eventually enter the U.S. or European markets to challenge Apple Pay directly is unknown at this time.