Hong Kong Shopify payments: Payment gateway options for Hong Kong merchants

If you're thinking about using shopify for e-commerce and building your own online store in Hong Kong, you'll end up asking about online collections. In recent years, new payment methods such as Apple and Alipay have made shopping easier. Today’s online shoppers expect convenient and frictionless payments as a necessity for a great online customer experience.

In our experience, we sometimes see before we sometimes see them ready to open shop. We caution you not to do this, because even though Shopify has a lot of payment gateway options, we recommend that you start researching different payment options as soon as possible and set up your business account so that payments don't become a startup bottleneck when you get close to rolling, getting out your Shopify store.

Overview of Shopify Payments in Hong Kong.

Shopify payments is available in Hong Kong and many other markets including the US, Puerto Rico, Canada, UK, Ireland, Australia, New Zealand and Singapore. All merchants using shopify payment gateway can enjoy multi-currency support in the top 10 currencies. In 2021, Shopify released checkout extensions that allow merchants to create a checkout experience, use third-party apps and payment options after making an immediate purchase.

In addition, Shopify provides a list of supported Hong Kong payment gateways, including paypal, AlipayHK, and Asiapay. Additionally, the new Shopify Checkout offers third-party providers more convenience, such as Buy Now pay Later installments. Shopify also allows businesses to offer customers multiple payment methods. For example, it can provide Shopify payments for manual payments, bank transfers, payme and FpS such as credit card transactions, Applepay, Google pay, cash on delivery (COD).

In the early days of e-commerce, payment gateway solutions were fragmented due to support for localized payment options, currencies, exchange and banking laws and regulations. Whether it is a popular regional provider or a global provider, the online payment platform has been committed to cross-border payments from the very beginning. Please select the following payment gateway:

1. Support in your target market,

2. Convenience for your shoppers, as well.

3. The economy is easy to manage.

It is recommended to contact the payment gateway provider as soon as possible to find out:

1. Will they do business with you (some may have restrictions on their business)

2. Their settings and per transaction rate/fee sum.

3. If it can meet your business needs, such as subscription or installment payment.

Now, let's discuss some of the factors that may affect payment gateway options for your business.

Overview of payment gateways in Hong Kong.

To help you understand the available payment gateways or payment options used by Shopify merchants, we have listed some popular customer providers. This is not an exhaustive list of all available payment options supported by Shopify in Hong Kong.

PayPal (Braintree)

paypal was founded in 1999. It remains one of the global leaders in online payment processing, despite the emergence of many new providers in recent years. paypal is available with Shopify payments. When a merchant sets up a Shopify store, Shopify will use the Shopify store's email address to automatically create a paypal Express Checkout account. Merchants with existing paypal accounts will receive paypal payments immediately. Merchants can also test paypal integration on a trial Shopify account (meaning the public can view it) once they have launched their store.

Paypal uses a tiered fee structure based on sales, starting at HK$2.35 plus % of the invoice amount. Note that the costs for Hong Kong transactions and cross-border transactions are different. paypal does not charge fees for withdrawals from its platform to a local bank account (such as USD to a US bank account or a Hong Kong account), but a fee will be charged if the currency is different from the receiving account.

Paydollar

Asiapay was established in 2000 and is used by many local companies in Hong Kong. Some of the clients listed on their website include Cathay Pacific and HKTVmall. They support China UnionPay, ppS, WeChat and other payment methods.

AsiaPay has operations in Singapore, London, China and other countries, and supports multiple currencies. Merchants must contact the company directly for rate and setup support.

hoolah-now.

hoolah was established in Singapore to expand its buy now, pay later solution to serve the Hong Kong market and is listed as an official payment gateway. holah accepts credit and debit card payments and divides purchases into three interest-free installments. The debit card option allows businesses to access online shoppers who may not have access to a lot of credit. Additionally, holah supports the integration of O2O retail through integration with shopify and brick-and-mortar retail stores. You can learn more about holah in this article.

Hong Kong Alipay

In 2021, AlipayHK released a Shopify integration designed to support merchants serving APAC markets without any setup fees. The upgraded AlipayHK integration allows merchants to accept payments from popular regional platforms such as Mainland China, Hong Kong SAR (AlipayHK), Philippines (Gcash), Malaysia, and more.

Alipay has been adopted by international companies such as Macy's, Blomingdales, AirAsia, Cathay Dragon and more. Merchants can now download the AlipayHK app and Alipay (directly) on Shopify as an alternative payment option in addition to Shopify Checkout.

Nihao pay

Nihaopay is a popular payment solution that helps businesses receive payments from popular digital wallet providers in Asia such as Kakaopay, paypay, Touch n Go, GCash, Dana, Truemoney Wallet, Alipay and WeChat Pay. Although listed as the official payment gateway in Hong Kong, merchants need to contact the platform to register their business and get an account before they can integrate with their Shopify store. You can find more information on their website.

FPS and payMe.

Fast Payment System (FpS) and HSBC payMe wallets are popular payment methods for consumers and merchants in Hong Kong, which means many online merchants may need to integrate. Currently, these two payment options are not directly integrated into the Shopify ecosystem, but some third-party payment providers may offer integrations for QR code scanning.

In addition, Shopify merchants can also create a manual payment method that includes instructions for customers to pay for their orders. If a manual payment method is created, merchants should also explicitly consider a method of referencing the order number and need to manually mark settled payments in the Shopify admin.