HSBC Unveils PayMe for Business App in Initial Beta Testby Fintech News Hong Kong March 1, 2019
HSBC’s PayMe announced the launch of a beta test programme for PayMe for Business, a new person-to-merchant (P2M) payments app in Hong Kong.
The beta test will involve 15 businesses from a diverse range of sectors from food and beverage, fashion and beauty, arts and crafts, to living and design.
PayMe for Business has been developed in Hong Kong to meet the needs of local businesses and is initially available to HSBC Business Banking customers in Hong Kong. It offers a way to accept digital payments from PayMe users via a mobile device.
The test also provides consumers with an opportunity to make purchases at participating merchants, enjoying the same experience as they do when sending money to family and friends via PayMe.
Terence Chiu, Head of Commercial Banking, Hong Kong, HSBC, said,
“We are very excited to bring HSBC’s latest innovation, PayMe for Business, to the business community in Hong Kong and to connect them instantly with PayMe’s network of nearly 1.5 million users.
There is no set-up cost for using PayMe for Business. Merchants can simply download the app onto their mobile device and complete the registration process on the spot. To open a PayMe for Business account, merchants have to create a business profile with their HSBC Business Internet Banking (BIB) account and a six-digit PIN. The merchant account registration will be complete and the app ready for use after an email address and HSBC Business Internet Banking security code verification process.
Greg Hingston, Head of Retail Banking and Wealth Management, Hong Kong, HSBC, said,
Participating merchants will be able to collect real-time payments from PayMe users at their designated shops by generating a dynamic PayCode via the PayMe for Business app. Consumers using the most up-to-date version of the PayMe app can then scan the PayCode to pay for goods and services instantly using funds in their PayMe wallet.
In addition to instant payment collection, PayMe for Business also offers business-friendly features, such as instant bank transfer of funds to HSBC business accounts, the ability to process instant refunds through the app, and access to real-time transaction records.
Featured image credit: HSBC