How do you become an AlipayHK merchant? Application procedure and more!

KPay

29 November 2024

【AlipayHK merchants 】In recent years, the government has been distributing Consumption Vouchers to revive the economy. Many people began using digital wallets and even developed the habit of using digital wallets for shopping and consumption. On the other hand, many merchants have opened Alipay accounts. What is the difference between Alipay in China and AlipayHK? What are the application procedures for AlipayHK merchants? How much does AlipayHK charge? Check out below for the answers! Do you also want to open Alipay to cater for the Mainland customers? KPay is here to help! KPay smart POS terminals support both Alipay HK and Alipay so you do not need to apply for them separately. New KPay merchants who apply for POS terminals can enjoy a limited-time offer of $0 merchant discount rate, plus up to $5,100 cash rebate and other discounts! Read till the end to get the offer!

What is AlipayHK? How is it different from Alipay?

AlipayHK is a branch of Alipay in Hong Kong. Since Hong Kong's financial regulations and policies are not the same as those of Mainland China, Alipay set up a company in Hong Kong and established AlipayHK, a specialised service for Alipay merchants in Hong Kong, which is very different from Alipay in Mainland China in terms of the interface language, the benefits offered and the way it is used.

Although the service scope of AlipayHK is limited to Hong Kong, it has launched cross-border payment services. After verifying your identity, connecting your bank card or undergoing facial recognition, you could use AlipayHK at some Alipay merchants in the Mainland. Moreover, AlipayHK also has set up “Cross-border Transport Code”, allowing Hong Kong users to pay for transportation in the Mainland.

Advantages of being an AlipayHK merchant

1. AlipayHK has a higher penetration rate in the Hong Kong digital wallet market
According to the spokesperson of AlipayHK, Alipay HK already had more than 5 million registered users and over 3.3 million active users back in 2022. This means that one in three HongKongers is an AlipayHK active user. The advantage of using AlipayHK is made obvious.

2. AlipayHK benefits both Mainland visitors and local merchants
Visitors from the Mainland can use Alipay to pay AlipayHK merchants. If they use Renminbi, Alipay will automatically convert it to Hong Kong Dollars.

This is a win-win situation for Mainland visitors and AlipayHK merchants. On one hand, Mainland visitors do not need to convert their Renminbi before spending, and they are very used to a cashless lifestyle already; on the other hand, AlipayHK merchants save time calculating conversion rate and changes. They also don’t need to convert the Renminbi they receive, which raises efficiency.

3. AlipayHK is safer and more hygienic than cash
Using digital payment avoids hygiene issues of cash transactions and security issues like counterfeit banknotes, which is hugely beneficial for AlipayHK merchants.

4. AlipayHK can promote merchants’ businesses
From time to time, AlipayHK will hold promotions at the Alipay Merchant Centre, such as cash coupons, e-coupons, discounts and the built-in membership point collection scheme, in order to encourage users to spend at AlipayHK merchants. AlipayHK is not just a payment platform, but also a marketing platform. After getting your application approved, you will become a part of the platform and can market your business on it.

5. AlipayHK supports online and offline payment
Apart from scanning the QR code to pay with the App, AlipayHK also has a web version and Alipay Merchant Centre allows merchants to collect payments online. No matter if you own a physical store or an online store, AlipayHK can satisfy all your needs.

AlipayHK merchant account vs Personal account: which one should you choose?

AlipayHK has two versions, namely personal account and merchant account; the former is for individual users, while the latter is for merchants. Although applying to become an AlipayHK merchant is more complicated than that of a personal account, it is more advantageous for merchants in terms of payment collection and other functions.

	Personal account	Merchant account
Required documents	Personal ID Bank account details	Company documents Corporate bank account details Business information Store address or website
Settlement method	Settlement using a personal bank account	Settlement using the merchant’s bank account
Functions	Payment collection	Payment collection Financial management Sales data consolidation Data export for sales performance analysis
Payment methods	QR code scanning	QR code scanning Credit card transfer
Quota	With quota	Without quota
Fees and subsidies	No subsidy Fixed fees	Will charge fees based on use rate and sales

Application methods for AlipayHK

Applying through AlipayHK official website

Procedures:

Fill in the form on the official website
Or contact AlipayHK merchant service customer service
AlipayHK will follow up with your application

Required documents:

Business Registration
Certificate of Incorporation
Corporate bank account details, such as bank account number and the rolling months in the latest 3 months
Business nature and products on sales
Address, names of owners and the store
Details of legal person, such as contact number and email address (only for unlimited companies)

Easy job! Applying for KPay Smart POS Terminals
Becoming an AlipayHK-only merchant means that you only have limited payment collection methods, and you could miss potential customers! If you want to accept all major digital payment tools, consider applying for a KPay smart POS terminal. Apart from AlipayHK, it also supports 14 more mainstream digital payment methods. Therefore, it can reach more potential customers, further raising the efficiency and flexibility of payment collection.

Procedures:

Fill in your company information on KPay website
Sales consultant will approach you to know more about the payment collection methods you need
KPay will arrange for the installation of POS terminals

*If you already have an AlipayHK merchant account, please inform your sales consultant; they will help you connect your account with the POS terminal.

Why should you apply for a KPay Smart POS Terminal?

Access 15 major payment tools
KPay Smart POS Terminal not only supports AlipayHK, but also other popular digital and contactless payment tools, such as Octopus, WeChat Pay, credit cards, BoC Pay, Apple Pay, etc,. It can satisfy the payment demand of merchants without the need to set up a lot of digital payment tools, which saves space and benefits customers.

One-stop app shows real-time transaction records and instant insights
KPay provides an app for the merchants. Merchants can understand real-time revenue and transaction records, while in-depth data analysis functions provide merchants with sales trends, comparisons, ratios of different payment methods; they can also download settlement reports at any time. The KPay payment solution is not only for payment collection, but also generates comprehensive sales intelligence, so that you can check the sales data at any time to analyse your business and gain insights into business opportunities.

Simple set up for flexible operations
KPay Smart POS Terminal boasts easy operations and high mobility with its wireless design. Merchants only need one terminal instead of applying to multiple payment service providers and dealing with complicated charges and settlement. Also, KPay smart POS terminal generates quick cash flow: the funds will be transferred to your bank account as fast as 3 days after clearing.

Certified safety and reliability
KPay Smart POS Terminal is PCI DSS level 1 certified. Being the highest standard in the payment industry, PCI DSS certified terminals are as safe as the most secure transactions of credit cards and bank cards, which guarantees the safety of KPay terminals.

KPay mega welcome offer with $0 merchant discount rate

If you are planning to apply for POS terminals, you should not miss KPay’s latest welcome offer. KPay new merchants can enjoy a limited-time offer of $0 merchant discount rate (transaction fee rebate for merchants with $30,000 revenue or above), $5,100 cash rebate and other discounts*! For the offer details, please click here.
*Terms and conditions apply

FAQ

1. Can Alipay accounts pay AlipayHK merchants?
As mentioned above, AlipayHK merchants in Hong Kong can collect payment from Alipay accounts. The funds will be converted into HKD through the cross-border payment function.

2. How much is the charge for AlipayHK merchants?
According to AlipayHK, the charge on merchants depends on their scale and nature of business; it can be as low as 0% for physical stores.

3. How long does it take for the fund to arrive at the registered bank account?
When the revenue exceeds $20, AlipayHK will transfer the fund to the bank account within 1 working day. The processing time of every bank varies, but merchants normally receive their funds no later than 3 working days after clearing.