PayMe by HSBC has launched its first UnionPay virtual card, enabling its 3.2 million users in Hong Kong to make payments worldwide.
This move significantly expands PayMe’s acceptance network to over 34 million merchants across 46 markets, including mainland China.
As more Hong Kongers travel to mainland China and overseas, the new HSBC PayMe UnionPay card makes it easier for them to pay across these regions.
Starting from 8 August, PayMe users can make in-store payments globally by scanning the UnionPay QR code at participating merchants or by displaying their UnionPay QR code via the PayMe app.
Payments made in foreign currencies will be automatically converted to the local currency and deducted from the PayMe wallet balance at the exchange rate provided by UnionPay.
The virtual card also supports online purchases at merchants that accept UnionPay.
Users can activate the virtual card instantly by verifying their HKID or top-up source.
The card offers a transaction fee waiver for spending in mainland China, Hong Kong, and Macau, with no annual fees.
Additionally, customers can manage their virtual card through the PayMe app, with options to lock or unlock the card and view card details.
The virtual card can also be added to the UnionPay app for convenient payments on public transport in mainland China.
Michelle Shao, General Manager of UnionPay International Hong Kong Branch said,
“We are very encouraged by our partnership with PayMe, one of the largest e-wallets in Hong Kong. UnionPay QR code has the advantages of wide acceptance, safety and reliability, and rich of offers, and PayMe’s large and young user base can further enhance the market recognition of UnionPay QR code.
In order to enhance payment convenience for overseas visitors in mainland China, UnionPay has recently launched ’Project Excellence 2024’, which can help 3.2 million PayMe users quickly access UnionPay QR code’s vast merchant acceptance network in mainland China and around the world.”
Brad Jones, Head of PayMe by HSBC said,
“Since its launch, PayMe has evolved from a P2P transfer platform to a full mobile wallet for Hong Kong users to pay for their daily shopping. Today, we are joining forces with UnionPay to transform PayMe into a cross-border wallet.
This partnership not only contributes to a quantum leap in our merchant network, but also reflects our goal to deliver the ‘anytime and anywhere’ service promise in mobile payment solutions.”
Featured image credit: Edited from Freepik
