What are the risks of using personal PayMe for business transactions? How can merchants start accepting PayMe payments? This article will explain the application process for PayMe for Business, its fees, bank account requirements, and how merchants can set up a payment terminal to accept PayMe.
Want to accept not only PayMe but also Alipay+, WeChat Pay, and other e-wallets? KPay has you covered! The KPay Terminal Pro supports 20+ different payment methods in one machine, making it easy and convenient without multiple applications.
What is PayMe for Business?
PayMe for Business is a merchant payment platform launched by HSBC, enabling businesses to easily receive payments from over 3.2 million local consumers through PayMe. Beyond basic payment collection, PayMe for Business allows merchants to securely transfer funds to their business bank account, review transaction records, and download detailed transaction reports.
How is PayMe for Business different from the personal version?
The personal version of PayMe and PayMe for Business differ in transaction limits, fees, and account requirements. While personal PayMe is easy to set up and doesn’t charge transaction fees, it has limits on deposits and transfers. If merchants use personal PayMe for business transactions, they not only face these limits but also risk having their accounts frozen due to frequent or large transactions, which can disrupt business operations.
| Feature |
Personal PayMe |
PayMe for Business |
| Eligibility |
None |
HSBC business customers or designated third-party providers |
| Transaction Limit |
Daily transfer limit: HK$20,000 |
No transfer limit |
| Fees |
None |
1.1% via KPay Smart POS Terminal
1.2% via PayMe app
1.5% via PayMe API |
| Bank Account Requirement |
Not required |
HSBC business account required for merchants |
| Sales Management Platform |
Not available |
Provides sales tracking and management |
Benefits of PayMe for Business for merchants
- Easy to use: The platform is easy to operate and integrates seamlessly with existing business processes.
- High security: Transactions are encrypted, ensuring the security of both merchants and customers.
- Convenience: Customers can pay via their mobile devices, reducing checkout friction.
- Fast transactions: Payments are processed quickly, offering a smooth experience for customers.
- Refund and transfer features: Merchants can easily process refunds or transfer funds to a bank account.
How to apply for PayMe for Business
Documents required for account setup:
- Hong Kong business mobile number
- Business email address
- HSBC Business Internet Banking account details
- Security device for the account
Steps:
- Download the PayMe for Business mobile app.
- Follow the prompts to enter your business and account details.
- Select the business and banking accounts you want to use.
- Complete the registration.
Approval time: Please contact PayMe for details.
Applying for KPay Terminal Pro
Only using PayMe for Business limits your payment options, which might cause you to miss potential customers! To support all popular payment methods in one system, consider applying for KPay Terminal Pro. In addition to PayMe, it supports 20+ major payment methods, including credit cards, WeChat Pay, Alipay+, and Apple Pay. Covering more payment options helps attract more customers and increases payment flexibility.
Required documents:
- Hong Kong contact phone number
- Business registration certificate, company incorporation certificate, and other business documents
Application steps:
- Contact your sales manager or submit your company details online.
- The electronic payment sales team will reach out to understand your payment needs.
- Upon approval, the KPay team will arrange installation of the KPay Terminal Pro.
- Once activated, you can start accepting PayMe and other payment methods.
Approval time: As fast as 5 business days.
PayMe for Business fee details
- KPay Terminal Pro PayMe transaction fee: 1.1%
- PayMe for Business app transaction fee: 1.2%
- PayMe API transaction fee: 1.5%
PayMe for Business payment process
Using KPay Terminal Pro for Payment
- Instruct customers to select "Pay Business" in their PayMe app and show their QR code.
- On KPay Terminal Pro, press "Sale" and enter the amount.
- Confirm the total and select "PayMe".
- Scan the customer’s PayMe QR code to complete the transaction.
- The system will print both customer and merchant receipts.
Using PayMe for Business App for payment
- Dynamic PayCode: A one-time QR code generated by entering the amount.
- Static PayCode: A merchant-specific QR code where the customer enters the amount.
- Dynamic PayLink: A one-time link generated with the amount, sent via messaging apps.
- Static PayLink: A merchant-specific payment link, where the customer enters the amount, also shared via messaging apps.
Why should you apply for KPay Terminal Pro?
- 20+ payment methods on one portable terminal: Accept NFC, EMV chip, and QR code payments across 20+ major methods on a single device, with no extra hardware needed.
- 150+ integrations, one terminal: Connect KPay Terminal Pro to your POS, kiosk, loyalty programme, vending machines, and online channels. One device that fits into your existing business — not the other way around.
- Up to T+0 settlement for faster, reliable cash flow: With express T+0 to T+2 settlement cycles, you can keep your cash flow stable and predictable.
- 24/7 support every step of the way: From onboarding to settlement queries, our dedicated team is on hand around the clock to keep your business running without interruption.
With KPay Terminal Pro, you can reduce counter clutter, accept multiple payment methods, and have peace of mind when it comes to settlement, letting you focus on other important aspects of the business.
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