- Min. Annual Salary
- Miles Conversion (Digital Wallets)
- Cash back on digital wallets
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There is no lack of digital wallets in Hong Kong. Each of them is characterized by its own feature. Some such as PayMe provide P2P payment functions allowing users to make fund transfers while others such as Alipay HK and WeChat Pay HK provide additional functions like cross-border payment and bill payment, etc. Depending on your spending habits, some digital wallets may suit you better than others. MoneySmart has put together some information about digital wallets for you to understand their operations and the latest offers:
There are 8 commonly used digital wallets in Hong Kong including PayMe, AlipayHK, WeChat Pay HK, BoC Pay, O! ePay, Tap&Go, UnionPay and TNG Wallet, each of them has its own unique benefits and functions:
PayMe users don’t have to be an HSBC customer. Anyone with a Hong Kong selected bank account or a credit card can use PayMe to split the bills with friends easily in just a few taps with a mobile number no matter what local bank they are with. You can easily top up your PayMe account with a registered credit card or a bank account. What’s more, you can now pay participating merchants via PayMe in stores with the PayMe logo.
AlipayHK is best for TaoBao and TMall frequent shoppers. Simply select Alipay HK in the payment method at the checkout to enjoy handling fee waiver. Besides, Alipay is a multi-functional mobile payment app, providing users with bill payment and cross-border payment service in over one million participating businesses across mainland China and Japan with a good exchange. What’s more, users can enjoy scanning ‘Quick Reward Code’ to get offers when travelling. Users can now top up through local stores, Standard Chartered Online Banking or coin carts.
WeChat Pay HK is the first mobile payment app allowing users to settle bills on the mainland with the Hong Kong dollar. Participating vendors include Didi Chuxing, Meituan-Dianping and railway ticketing platform 12306.cn. Purchases will be converted from RMB to HKD automatically on the app, where exchange rate quotes and automatic exchange services are available. Users can now top up through local stores, bank accounts or credit cards.
BoC Pay is a multifunctional cross-border payment mobile application which enables P2P transfer function, QR code payment, bill payment and mobile payment function in the Greater Bay Area without a bank account on the mainland. Users don’t have to be BoC customers to use BoC Pay. As long as you are 18 years old with Hong Kong residency and a valid mobile number plus an email address, you can apply. First-time users can enjoy HK$20 welcome rewards on or before 30 June 2020.
Octopus O! ePay is a multifunctional mobile payment app. Users can top up Octopus cards, make online purchases, and transfer funds within the apps. With O! ePay, users can manage up to 20 Octopus Cards. Users can also shop online with O! ePay Mastercard, which is a reloadable virtual Platinum prepaid card allowing users to shop globally at online merchants taking Mastercard. Users can top up an O! ePay account through Octopus card, local stores and fund transfers from Standard Chartered bank/credit card. Users can transfer funds between O!ePay and bank accounts.
Tap & Go is Hong Kong's first prepaid mobile wallet incorporating both Mastercard® and UnionPay card schemes to provide payments online and at physical stores around the globe. Anyone who is 11 years old or above with Hong Kong, Macau or Mainland China mobile number can activate Tap & Go.
UnionPay mobile application is a one-stop mobile payment service. Users can enjoy mobile payment services in 48 countries and regions. Moreover, users can also pay simply by scanning UnionPay QR code In China alone, UnionPay QR code payment is widely accepted at over 16 million merchants.
TNG Wallet is a one-stop mobile payment app. It does not only provide person-to-person money transfer, merchant payment service but also enables users to handle foreign currency. Users can easily exchange foreign currencies and transfer money from TNG Wallet to designated countries such as the UK, Singapore and Hong Kong. Users can top up at 7-Eleven or Circle K or use a credit card or the online banking platform of participating banks such as Bank of China to top up.
Cardholders can connect your credit cards to digital wallets like PayMe, WeChat Pay and Alipay HK to earn extra rewards, air miles and cash rebate:
Top up PayMe, Alipay and WeChat Pay HK with Citi Prestige Card, Citi PremierMiles Card, Standard Chartered Asia Miles Mastercard and DBS Black World MasterCard to get miles. Please be aware that the monthly PayMe top-up limit is HK$5,000 and each credit card caps the amount of miles cardholder can earn as listed above.
Top up PayMe e-wallet with Standard Chartered Simply Cash Visa Card and Citibank cards to enjoy cash rebate. Please be aware that the monthly PayMe top-up limit is HK$5,000 and each credit card caps the amount of cashback cardholder can earn as listed above.
Most banks except Citibank exclude digital wallet as eligible transactions for welcome offers. New customers applying for Citibank cards can enjoy welcome gifts with no costs simply by topping up digital wallets with below amount, and transfer the money back to the bank account:
|Digital Wallets||Monthly Top Up Limit||Monthly Rewards Limit*|
|PayMe||HK$2,000||333 miles / HK$20|
|AlipayHK||HK$2,000||333 miles / HK$20|
|WeChat Pay HK||HK$1,000||500 miles / HK$30|
|O! ePay||HK$3,000||166 miles / HK$10|
PayMe is a 'Digital Wallet', designed to easily pay back your friends and family and also get paid to a Hong Kong local bank account through the apps for free. You need to top up your PayMe account with a credit card or bank account to pay and you need to have a local bank account to get paid. To be eligible to use PayMe, you need to be at least 18 years old and hold a valid HKID and Visa/MasterCard.
To sign up for PayMe, you need to:
Step Blurb 1Download and install the apps from the Google Play Store/ App Store
Register with a valid Facebook account/ mobile number
Register with your personal details
Read and agree to the T&C of the apps
Create a password and verify your email address
Add a top-up source (For non HSBC customers, HKID details are required)