In recent years, the government has been distributing Consumption Vouchers to revive the economy.
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 Terminal Pro supporting both Alipay HK and Alipay, you do not need to apply for them separately.
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.
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.
Application process:
Required documents:
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 Terminal Pro. 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:
Tip: If you already have an AlipayHK merchant account, please inform your sales consultant; they will help you connect your account to KPay Terminal Pro.
Access 15 major payment tools
KPay Terminal Pro 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 Terminal Pro 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 Terminal Pro offers 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 Terminal Pro 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.
AlipayHK merchants in Hong Kong can collect payment from Alipay accounts. The funds will be converted into HKD through the cross-border payment function.
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.
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.
Register online to get KPay Terminal Pro or talk to our sales team to find out more today.
