Insight & Analysis

Press release: HSBC unveils PayMe for business app in initial BETA test

Published: Feb 2019

21st February 2019 – HSBC’s PayMe announced today the launch of a beta test programme for PayMe for Business, a new person-to-merchant (P2M) payments app in Hong Kong. The beta test will involve 15 businesses from a diverse range of sectors from food and beverage, fashion and beauty, arts and crafts, to living and design.

PayMe for Business has been developed in Hong Kong to meet the needs of local businesses and is initially available to HSBC Business Banking customers in Hong Kong. It offers a simple way to accept digital payments –via a mobile device – anytime, anywhere. The test also provides consumers with an opportunity to make purchases at participating merchants, enjoying the same seamless experience as they do when sending money to family and friends via PayMe.

Terence Chiu, Head of Commercial Banking, Hong Kong, HSBC, said, “We are very excited to bring HSBC’s latest innovation, PayMe for Business, to the business community in Hong Kong and to connect them instantly with PayMe’s network of nearly 1.5 million users. As societies become more digital, demand for instant payments will continue to grow. We are committed to enhancing the banking experience for consumers and businesses by providing simpler, better, faster payment solutions, and PayMe for Business is a powerful new addition for Hong Kong businesses. Our goal is to help local businesses unlock the convenience of digital payments, reach new customers, grow their business, and ultimately realise their ambition.

There is no set-up cost to using PayMe for Business. Merchants can simply download the app onto their mobile device and complete the registration process on the spot. To open a PayMe for Business account, merchants have to create a business profile with their HSBC Business Internet Banking (BIB) account and a six-digit PIN. The merchant account registration will be complete and the app ready for use after an email address and HSBC Business Internet Banking security code verification process.

Greg Hingston, Head of Retail Banking and Wealth Management, Hong Kong, HSBC, said, “With the rapid evolution of digital payments in Hong Kong, we are very pleased to have become a leading player with nearly 1.5 million users in two years. Over the last year, the value of person-to-person payments using PayMe has grown by over five times. The launch of PayMe for Business will enhance the ecosystem, bringing simple, convenient and social payment services to our customers in their everyday life.

“Customers have always been at the heart of PayMe’s design and services. The feedback collected during the beta test will not only help us enhance customer experience, but also prioritise the development of the new features that businesses need most.”

Participating merchants will be able to collect real-time payments at their designated shops by generating a dynamic PayCode via the PayMe for Business app. Consumers using the most up-to-date version of the PayMe app can then scan the PayCode to pay for goods and services instantly using funds in their PayMe wallet.

In addition to instant payment collection, PayMe for Business also offers business-friendly features, such as instant bank transfer of funds to HSBC business accounts, the ability to process instant refunds through the app, and access to real-time transaction records.

PayMe for Business early bird offer

As a special early bird offer, transaction fees will be waived for the first three months from launch for businesses that successfully download the PayMe for Business app and complete registration. After the offer period, a simple and competitive pricing of 1.5% will be applied per transaction.

Learn more about PayMe for Business and sign up today

To pre-register and be notified when the PayMe for Business app launches, please go to the PayMe for Business website:

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