HSBC to launch person-to-merchant payments platform connecting Hong Kong businesses to over 1 million PayMe customers
HSBC’s PayMe announced that its new person-to-merchant (P2M) payments app “PayMe for Business” will be launched in early 2019. Initially available to HSBC Business Banking customers in Hong Kong, PayMe for Business will enable small businesses to collect payments instantly on their mobile – anywhere, anytime. This will link businesses to over 1 million PayMe customers in Hong Kong, allowing for a simple and secure way to pay for goods and services.
Brian McKenney, Head of PayMe, HSBC, said, “Payments between consumers and merchants in Hong Kong is the next chapter in PayMe’s growth agenda and the next era of payments in the region. PayMe is already one of the most popular payment apps in Hong Kong, with a community of over 1 million customers. We want to deliver the right payment solutions to our PayMe for Business customers while helping them expand and grow their customer base by connecting them to this thriving consumer community.”
The PayMe for Business app will allow businesses to collect payments instantly and transfer funds to their HSBC bank account. With no setup cost, businesses simply need to download the PayMe for Business app onto their mobile, and complete the registration process on-spot allowing them to accept payments and see their transactions via the app. It will also allow businesses to process refunds through the app.
For PayMe customers, paying for goods and services is as simple as paying friends and family. PayMe customers can make payments by scanning single-use QR codes businesses created via the PayMe for Business app. Once scanned, businesses will be able to see that the transaction has been successful and that payment has been received. With the launch of PayMe for Business app, PayMe customers will have immediate access to a suite of merchants across Hong Kong.
Terence Chiu, Head of Commercial Banking, Hong Kong, HSBC, said, “HSBC is bringing innovation to power Hong Kong’s burgeoning business community with growing and complex banking needs. As one of the most dynamic and increasingly digitally-minded markets, we know small businesses in Hong Kong are seeking easy, secure and instant ways to collect payments and manage their finances. By using the PayMe for Business app, businesses can focus on what matters most – growing their business and serving their customers.”
As societies become more digital, demand for instant payments will continue to grow. HSBC is committed to enhancing the banking experience for consumers and businesses by providing simpler, better, faster payments solutions, including consumer-to-consumer and P2M. HSBC was recently
recognised for its innovation in the payments space at the Annual Payments Awards this year, where HSBC won Best Mobile Payments Solution for HSBCnet Mobile.