How Do You Become an AlipayHK Merchant?

In recent years, the government has been distributing Consumption Vouchers to revive the economy.

Many people began using digital wallets and even developed the habit of using digital wallets for shopping and consumption. On the other hand, many merchants have opened Alipay accounts. What is the difference between Alipay in China and AlipayHK? What are the application procedures for AlipayHK merchants? How much does AlipayHK charge? Check out below for the answers!

Do you also want to open Alipay to cater for the Mainland customers? KPay's got you covered. With KPay's Smart POS terminals supporting both Alipay HK and Alipay, you do not need to apply for them separately.

What is AlipayHK? How is it Different from Alipay?

AlipayHK is a branch of Alipay in Hong Kong. Since Hong Kong's financial regulations and policies are not the same as those of Mainland China, Alipay set up a company in Hong Kong and established AlipayHK, a specialised service for Alipay merchants in Hong Kong. This is different from Alipay in Mainland China in terms of the interface language, the benefits offered and the way it is used.

Although the service scope of AlipayHK is limited to Hong Kong, it has launched cross-border payment services. After verifying your identity, connecting your bank card or undergoing facial recognition, you could use AlipayHK at some Alipay merchants in the Mainland. Additionally, AlipayHK also has set up “Cross-border Transport Code”, allowing Hong Kong users to pay for transportation in the Mainland.

Advantages of being an AlipayHK Merchant

1. ‍AlipayHK has a higher penetration rate in the Hong Kong digital wallet market: According to the spokesperson of AlipayHK, Alipay HK already had more than 5 million registered users and over 3.3 million active users in 2022. This means that one in three HongKongers is an active AlipayHK user. The advantage of using AlipayHK is made obvious. ‍
2. AlipayHK benefits both Mainland visitors and local merchants: Visitors from the Mainland can use Alipay to pay AlipayHK merchants. If they use RMB, Alipay will automatically convert it to Hong Kong Dollars. This is a win-win situation for both Mainland visitors and AlipayHK merchants. Mainland visitors do not need to convert their RMB before spending, and it integrates into their cashless lifestyle. Meanwhile, AlipayHK merchants save time as they do not need to calculate conversion rate and changes. They also do not need to convert the RMB they receive, which improves efficiency. ‍
3. AlipayHK is safer and more hygienic than cash: Using digital payment avoids hygiene issues that come with cash transactions and security issues like counterfeit banknotes, which is beneficial for AlipayHK merchants. ‍
4. AlipayHK can promote merchants’ businesses: From time to time, AlipayHK will hold promotions at the Alipay Merchant Centre, such as cash coupons, e-coupons, discounts and the built-in membership point collection scheme, in order to encourage users to spend at AlipayHK merchants. AlipayHK is not just a payment platform, but also a marketing platform. After getting your application approved, you will become a part of the platform and can market your business on it. ‍
5. AlipayHK supports online and offline payment: Apart from scanning the QR code to pay with the App, AlipayHK also has a web version and Alipay Merchant Centre allows merchants to collect payments online. Whether you own a physical store or an online store, AlipayHK can satisfy all your needs.

AlipayHK Merchant Account vs Personal Account: Which One Should You Choose?

AlipayHK has two versions, namely personal account and merchant account. The former is for individual users, while the latter is for merchants. Although applying to become an AlipayHK merchant is more complicated than that of a personal account, it is better for merchants when it comes to payment collection and other functions.

How to Apply for AlipayHK

Application process:

1. Fill in the form on the official website or contact AlipayHK merchant service customer service
2. AlipayHK will follow up with your application

Required documents:

1. Business Registration
2. Certificate of Incorporation
3. Corporate bank account details, such as bank account number and the rolling months in the recent 3 months
4. Business nature and products on sales
5. Address, names of owners and the store
6. Details of legal person, such as contact number and email address (only for unlimited companies)

Applying for KPay Smart POS Terminals

Becoming an AlipayHK-only merchant means that you only have limited payment collection methods, and you could miss potential customers! If you want to accept all major digital payment tools, consider applying for a KPay Smart POS terminal. Apart from AlipayHK, it also supports 14 more mainstream digital payment methods. You can reach even more potential customers, improving the efficiency and flexibility of payment collection.

Application process:

1. Self-register with our simple online application process or fill in your company information on KPay's contact form to get connected with a sales consultant
2. If you chose to have a sales consultant approach you, kindly wait for us to reach out to know more about the payment collection methods you need
3. KPay will arrange for the installation of POS terminals

Tip: If you already have an AlipayHK merchant account, please inform your sales consultant; they will help you connect your account with the POS terminal.

Why Should You Apply for a KPay Smart POS Terminal?

Access 15 major payment tools
KPay Smart POS Terminal not only supports AlipayHK, but also other popular digital and contactless payment tools, such as Octopus, WeChat Pay, credit cards, BoC Pay, Apple Pay, and more. Accept payment methods that your customers prefer without the need to set up multiple digital payment tools, which saves space and improves operational efficiency.

One-stop app shows real-time transaction records and instant insights
KPay provides an app for our merchants. Merchants can monitor real-time revenue and transaction records, while in-depth data analysis features provide merchants with sales trends, comparisons, ratios of different payment methods and merchants can also download settlement reports at any time. KPay's payment solution is not only for payment collection, but also generates comprehensive sales data, which you can access at any time to analyse your business and gain insights into business opportunities.

Simple set up for flexible operations
KPay Smart POS Terminal boasts easy operations and high mobility with its wireless design. Merchants only need one terminal instead of applying to multiple payment service providers and dealing with complicated charges and settlement. Also, KPay Smart POS terminal offer quick cash flow as the funds will be transferred to your bank account as fast as 3 days after settlement.

Certified safety and reliability
KPay Smart POS Terminal is PCI DSS level 1 certified, which is the highest standard in the payment industry. PCI DSS certified terminals are as safe as the most secure transactions of credit cards and bank cards, which guarantees the safety of KPay terminals.

FAQs

Can Alipay accounts pay AlipayHK merchants?

‍AlipayHK merchants in Hong Kong can collect payment from Alipay accounts. The funds will be converted into HKD through the cross-border payment function. ‍

How much is the charge for AlipayHK merchants?

‍According to AlipayHK, the charge on merchants depends on their scale and nature of business; it can be as low as 0% for physical stores. ‍

How long does it take for the fund to arrive at the registered bank account?

‍When the revenue exceeds $20, AlipayHK will transfer the fund to the bank account within 1 working day. The processing time of every bank varies, but merchants usually receive their funds no later than 3 working days after settlement.