On November 1, PayMe by HSBC announced that its merchant network in Hong Kong had expanded to over 100,000 shops, marking an important milestone in PayMe's transformation from a "person-to-person" (P2P) e-wallet to a leading payment platform for local merchants.
PayMe's merchant network has grown its store coverage by nearly 50% in just 12 months, expanding beyond local retail and dining merchants to now include airlines, residential clubhouses, shared apartments, pharmacies, and department stores. PayMe for Business, the commercial version of PayMe, was launched in 2019 and has been providing secure real-time payment solutions to local businesses of all sizes, linking up with over 3.2 million individual users.
HSBC PayMe Director Brad Jones said that to make PayMe a digital wallet for Hong Kong people, a large and diverse merchant network must be established to meet their daily shopping needs. I am delighted to celebrate this milestone with our partner merchants and payment service partners and continue to work together to drive the development of this indigenous payment ecosystem.