Fintech firm QFPay HK is helping merchants seize opportunities in Hong Kong’s booming digital payment sector through the enhanced capabilities of PayMe for Business by simplifying the registration process and uplifting their businesses.
Amid the rapidly evolving digital payments landscape in Hong Kong, where consumers are increasingly embracing new mobile and online options, local fintech firm QFPay HK has become the first batch of payment providers in Hong Kong able to offer both online and offline PayMe for Business solutions.
Since founded in 2015, QFPay HK has integrated more than 15 payment methods including credit cards (Visa, MasterCard, UnionPay) and various kinds of QR wallets (Alipay, WeChat Pay, etc.), serving around 10,000 merchants to date. With the enhanced capability authorized by PayMe for Business, QFPay HK is revolutionizing how merchants accept and manage digital payments across channels.
“Both online and offline businesses wanted diverse payment options like PayMe for Business, but faced barriers integrating different payment providers and methods. This struggle is especially seen among small and medium-sized companies. That’s why we worked with PayMe for Business to offer a true omnichannel solution,” said QFPay HK’s Co-Founder and General Manager Will Leung.QFPay HK has become PayMe for Business’s first batch of providers to offer both online and offline services in the city. Leung credited the company’s long-term partnership with PayMe for Business and proven expertise in security, international clients and payments technology with helping them garner the high-profile deal.By integrating PayMe for Business into its own payment applications and gateways, QFPay HK has simplified the registration process for merchants. “Businesses can now apply for PayMe for Business and other payments through our platform with just basic info, without needing an HSBC commercial account. The account activation process can be completed in as little as one week,” Leung explained.
While other payment firms may offer online or point-of-sale PayMe capabilities separately, QFPay HK is unique in integrating them within one backend platform. This significantly reduces complications for merchants, affording them easy access to the PayMe user base, one of the largest in Hong Kong, through a single technical integration and account. “Our solution eliminates additional settlement steps and gives merchants a breakthrough in operational efficiency,” noted Leung.
Data insights have also been improved. By connecting online and offline PayMe sales data in a single dashboard, merchants can now analyze transaction performance across all channels, unlocking opportunities for merchants to optimize areas like pricing and promotions based on a more complete view of payment trends, Leung said.
The integrated platform also aims to further support merchants by facilitating data sharing with banks through the Hong Kong Monetary Authority’s Commercial Data Interchange (CDI), which allows banks to obtain transaction data from QFPay HK with merchant permission, significantly simplifying and speeding up financing approval through data insights. Leung expected this will help upgrade merchant financing capabilities over time.
So far, e-commerce businesses and retailers have shown strong interest in QFPay HK’s omnichannel PayMe for Business services according to Leung. “They want to accept PayMe payments regardless of whether customers shop in-store or order ahead online. Our system lets merchants do both seamlessly while still having full visibility over all transactions,” he added.
Going forward, Leung said QFPay HK plans to strengthen its payment platforms with new features to benefit more merchants while keeping abreast of the overseas markets. He forecasts the upgrades will boost the company’s user base by 10% annually and yield 6% yearly turnover growth, “Digital payments are only going to grow exponentially in Hong Kong. We want to solidify our position as one of the best enablers for merchants tapping into that opportunity through innovative payment solutions.”
