PayMe
| Company type | Subsidiary |
|---|---|
| Industry | Mobile payments |
| Founded | 2017-02-08 |
| Founder | HSBC |
| Headquarters | Hong Kong , Hong Kong |
Area served | Hong Kong |
| Products | Mobile payment platform, peer-to-peer money transfers, person-to-merchant payments |
| Owner | HSBC |
| Parent | HSBC |
PayMe (formally known as PayMe from HSBC) is a mobile payment platform operated by HSBC, exclusively accessible to users in Hong Kong who possess local phone numbers and bank accounts. This service facilitates payments to merchants as well as peer-to-peer money transfers through a mobile app connected to credit cards or local banking accounts.
By November 2022, PayMe had garnered around 2.9 million active users, representing a 50% penetration rate within Hong Kong’s population of 7.3 million.
History
Introduced on 8 February 2017, the app experienced overwhelming demand during its launch, which led to registration difficulties and earned it the informal nickname "Play Me." Initially, users could only top up using Visa or Mastercard credit cards, with a monthly limit of HK$10,000.
In April 2018, PayMe received the FinTech Grand Award at the Hong Kong ICT Awards. By June of the same year, the platform expanded functionality to include linking local bank accounts, raising monthly top-up limits to HK$30,000 or HK$50,000 for users with verified residential addresses. At this time, PayMe also collaborated with HKTVmall to support payments for online shopping.
March 2019 saw the introduction of person-to-merchant (P2M) payment capabilities via PayMe for Business, which was built natively on Microsoft Azure infrastructure.
In July 2019, PayMe incorporated the FPS to facilitate transfers and top-ups and launched a comprehensive redesign of its app interface. However, credit card top-up limits were lowered to HK$2,000 per month.
By May 2022, PayMe was recognized as an approved platform for Hong Kong’s consumption voucher program, strengthening its position in government-supported digital payment efforts.
Features
Originally designed as an independent mobile application for peer-to-peer social payments, PayMe allows users to sign up using either a Facebook account or a Hong Kong mobile number. Users link either a credit card or a local bank account (not restricted to HSBC) to fund their balance and receive transfers.
Transactions through the app incur no fees.
When a transaction exceeds the available PayMe balance, the shortfall is automatically debited from the linked bank account or credit card.
The app includes social networking elements that let users send money, request payments, and split expenses—functionality comparable to that of Venmo in the United States. Transaction activities are displayed on a social feed visible to contacts according to user-defined privacy preferences.
Users can add friends by searching contacts within the app. For recipients not registered on PayMe, sending money generates a shareable payment link that can be distributed via messaging platforms such as WhatsApp. Recipients can claim these funds by providing bank details or by registering for a PayMe account.
In popular culture
The 2021 movie "All U need is love" (總是有愛在隔離) features PayMe when a character suggests using it as an alternative method for giving "Lai See" (red packet money).