How do you become a WeChat Pay HK merchant? It only takes 2 steps!

【WeChat Pay Merchants】In our daily life, paying with e-wallets is very popular. WeChat Pay HK is one of the most commonly used HKD digital wallets in Hong Kong, with more than 5 million active users. You can use WeChat Pay HK to pay with a single swipe at designated Hong Kong merchants or mainland stores for both online and offline purchases. If you want to expand your customer base so that they can enjoy your products or services with the convenient WeChat Pay, keep on reading to learn how to apply to become a WeChat Pay HK merchant. We will explain the steps to open an account, the required documents, and the transaction time.

Do you also want to activate Alipay to cater for customers from the Mainland? KPay is what you need! KPay smart POS terminal supports both WeChat Pay HK and WeChat Pay, so you can save time applying for them separately. 

Merchants who apply for the KPay Smart POS Terminals can enjoy limited-time offers of $0 transaction fee, $5,100 cash rebate and many other discounts! Read till the end for the offer!

What is WeChat Pay HK? How is it different from WeChat Pay?

WeChat Pay HK is a WeChat Pay service launched by Tencent for the Hong Kong region. WeChat Pay HK uses Hong Kong Dollars as the settlement currency, and since WeChat Pay (Hong Kong) operates separately from Weixin Pay in the Mainland, funds in the two accounts cannot be transferred, transferred, or shared with each other. WeChat Pay HK has launched a convenient "Two-way Cross-border Payment" feature for consumer accounts, which allows Hong Kong users to make payments at designated merchants in the Mainland, and the purchase amount will be automatically converted into Hong Kong Dollars at the time of payment. In addition, Weixin Pay covers more than 60 countries or regions and cross-border payments can be made once it is successfully activated.

What is the difference between a merchant account and a personal consumption account?

WeChat Pay HK consumption account offers a variety of ways to link to your personal bank account or credit card, as well as the ability to top up your balance with cash. Consumption accounts can be used to make purchases at over 1 million merchants in Hong Kong, Mainland China and Macau by scanning the merchant's QR Code or presenting a personalised payment QR Code. In addition, WeChat Pay HK also provides users with various e-wallet services, such as inter-bank transfer, using HKD wallets to make purchases in the Mainland, paying utility bills, etc. Personal spending accounts can also enjoy numerous offers from WeChat Pay HK's partner merchants.

WeChat Pay HK merchant accounts are designed for local online and physical merchants. Merchants can simply apply for a "WeChat Pay HK payment collection code" and post a QR Code in their shop to receive payment. They can also apply for online payment via email. Detailed application instructions and required documents will be explained. In addition, merchants can also apply for POS terminals to display the payment QR Code to their customers, such as applying for KPay one-stop smart POS terminals to complete transactions with customers more efficiently.

What are the benefits of becoming a WeChat Pay HK merchant?

WeChat Pay HK offers Hong Kong people a convenient way to transact in multiple currencies. With the ability to make local purchases, cross-border payments, and cross-border remittances through a single mobile app, WeChat Pay HK merchant accounts can capitalise on the business opportunities and attract customers. Another advantage is that by becoming a WeChat Pay HK merchant, you will also become a direct affiliate of WeChat Pay in the Mainland, which means that Mainland travellers can use the WeChat Pay app in Hong Kong directly. With the reopened border between Hong Kong and the Mainland, there will be more than 26 million Mainland travellers visiting Hong Kong in 2023, and the number of Mainland travellers visiting Hong Kong is expected to increase by more than 20%. By becoming a WeChat Pay HK merchant, you will be able to attract Mainland visitors and expand your potential customer base at the same time. In addition, WeChat Pay HK also supports cross-border settlement, making it convenient for merchants to process international transactions.

How do merchants apply to use WeChat Pay to collect payment ?

Below are 3 ways to apply for a WeChat Pay HK merchant account.

Method 1: “WeChat Pay HK payment code” mini-program application

Procedure:

1. Open WeChat App and scan the specific mini-program 

2. Choose the merchant type and fill in some basic information 

3. After approval, WeChat Pay HK staff will visit your store to finish the rest of the procedures; you can start collecting payment after posting your QR code.

Required documents:

1. Certificate of Incorporation (CI) (for limited companies)

2. Business Registration (BR)

3. Identification documents of beneficial owners 

4. Bank statement or account details of the corporate account

Method 2: Email application

For those who have a demand for payment collection methods other than WeChat Pay HK, or are not sure which payment collection method they should use.

Procedures: 

1. Copy the specific form and send to hkpayment@wechat.com after completion 

2. WeChat Pay staff will approach you and follow up

Required documents:

1. Certificate of Incorporation (for limited companies)

2. Business Registration (BR)

3. Identification documents of beneficial owners 

4. Bank statement or account details of the corporate account

Method 3: Apply for KPay smart POS terminals and WeChat Pay HK in 2 steps  

Procedures:

1. Apply online and submit the required documents; KPay consultants will approve your application and set up your KPay account

2. After your application is approved, KPay will arrange POS operation tutorial and installation; then you can start collecting payment using the terminal 

Required documents:

1. Certificate of Incorporation (for limited companies)

2. Business Registration 

3. Identification documents 

4. Bank statement or account details of the corporate account

5. Photos of your store 

*If you already have a WeChat Pay HK merchant account, please inform your KPay sales consultant; they will help you connect your account with the smart POS terminal.

The advantage of using a KPay smart POS terminal is that they accept up to 15 mainstream payment tools at once. In addition to WeChat Pay HK, they also support credit cards, Weixin Pay, Alipay HK, Octopus and other payment methods for the convenience of different customers. In addition, merchants can download KPay's merchant mobile app, which allows them to view all real-time transaction details, track sales and other records anytime, anywhere, without the need for complicated system setup. This allows them to handle their daily payment collection operations with flexibility. Moreover, KPay understands the importance of cash flow to merchants, so it only takes three working days (T+3)* from the time of clearing to credit the merchant's bank account, making it easy for you to manage your cash flow.

*The actual arrival time depends on merchants’ industries and nature of business. KPay reserves the right of final decision and interpretation.

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. Do WeChat Pay HK merchants accept Weixin Pay?
Since WeChat Pay HK merchants automatically become affiliates of Weixin Pay, merchants can accept Weixin Pay. Also, WeChat Pay HK merchants can support physical stores through the cross-border payment function; collect payment in Hong Kong and the Mainland and settle at once.

2. WeChat Pay HK商戶帳戶的到賬時間是多久？
Around 2 to 5 working days after clearing.

3. WeChat Pay HK商戶所需手續費？
Basic transaction fee: 1.2%. First year after account opening: fee exempted if monthly revenue is $50,000 or below; 1.2% fee applies on revenue exceeding $50,000.