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Adyen & PayMe by HSBC team to expand Hong Kong footprint

By Gloria Mathias

April 03, 2024

  • Adyen
  • APAC Fintech
  • APAC news
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Adyen, Pay-by-Bank, Plaid, payments solution, digital finance, financial data, embedded financial services, open banking, bank account, chargebacks, payment fraud, enterprise merchants, Fintech news, Fintech US, PayMe by HSBC, Hong Kong, APAC News, APAC Fintech, Mobile Payments Services, Adyen, the global financial technology platform of choice for enterprise businesses, has announced its partnership with PayMe by HSBC (PayMe) in Hong Kong to become an acquirer of the mobile payment service.

Through this partnership, Adyen’s merchants can accept PayMe as a payment method when their Hong Kong customers check out their purchases online.

PayMe by HSBC is a home-grown payment app in Hong Kong accepted at over 65,000 physical and online outlets across Hong Kong, ranging from start-ups and local SMEs to some of the city’s largest daily necessity merchants, with a growing base of over 3 million personal users.

“We are thrilled to partner with PayMe, a homegrown payment service with over three million users in Hong Kong. The partnership enables our local and global customers to provide Hong Kong shoppers with more ways to purchase their favourite brands,” said Kai Tang, Head of Hong Kong, Adyen. “By enabling one of the most popular local payment methods, we help merchants increase their revenue, and open up new sales channels and markets, all with a single integration.”

With the increased consumer use of digital payments following the Hong Kong government’s introduction of the Consumption Voucher Scheme, businesses that stayed competitive started adopting their customers’ preferred payment methods, including PayMe.

Adyen’s research also found that 66% of Hong Kong shoppers would abandon their cart if they couldn’t pay how they wanted, punctuating the need for businesses to offer their customers’ favourite payment methods or risk losing sales.

“We are excited to collaborate with Adyen, which offers payment solutions for some of the world’s largest merchants. In alignment with our mission to foster the growth of electronic payments in Hong Kong, this partnership with Adyen not only allows us to broaden PayMe’s merchant base but also strengthens our capabilities to meet the diverse consumption needs of our users,” said Brad Jones, Head of PayMe, HSBC.

Besides PayMe, payment methods available to Adyen’s customers in Hong Kong include (but are not limited to) AlipayHK, American Express, Apple Pay, Google Pay, JCB, Mastercard, Samsung Pay, UnionPay, Visa, and WeChat Pay HK.

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