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8 August 2024

PayMe goes global with new UnionPay virtual card

PayMe by HSBC will be launching its first UnionPay virtual card that allows 3.2 million users in Hong Kong to make payments globally. This will immediately expand the acceptance network of PayMe to over 34 million merchants in 46 markets, including mainland China.

Starting 8 August, after updating the PayMe app, customers can make in-store payments globally by scanning the UnionPay QR code displayed at merchants or by showing their UnionPay QR code on the PayMe app. When you pay a business abroad in foreign currencies, the payment amount, calculated at an exchange rate offered by UnionPay1, will be deducted from your PayMe wallet balance. This virtual card also enables online purchases at merchants accepting UnionPay.

Maggie Ng, General Manager and Head of Wealth and Personal Banking, Hong Kong, HSBC said: “The partnership with UnionPay marks a significant milestone for PayMe, allowing our users to enjoy a seamless payment experience during mainland China and overseas travel – the same level of service convenience as in Hong Kong.”

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.”

PayMe users can activate their virtual card instantly upon verifying their HKID or top-up source. They can enjoy a transaction fee waiver1 for spending in mainland China, Hong Kong and Macau. Customers can also easily manage their virtual card via the PayMe app, including locking and unlocking the card and viewing card details.

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.”


Note to editor:

  1. Terms and conditions apply.
The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 60 countries and territories. With assets of US$2,975bn at 30 June 2024, HSBC is one of the world’s largest banking and financial services organisations.