PayMe (officially known as PayMe from HSBC) is a peer-to-peer payments service based in Hong Kong launched by The Hongkong and Shanghai Banking Corporation (HSBC). It allows Hong Kong users to transfer money to one another using a mobile phone app, by linking their credit card or bank account, whether they are issued by HSBC or other local banks.
Video PayMe
History
On the first day of the launch, the app experienced a heavy traffic which made users unable to register the service, media sites hence named the app "Play Me". The bank apologised and promised to improve the service.
In April 2018, the app was awarded the FinTech Grand Award by the The Hong Kong ICT Awards, an award created by the Office of the Government Chief Information Officer of the Hong Kong Government.
On 21 June, 2018, PayMe introduced their new top up method, by allowing users to link their local bank account, rather than just linking a Visa and Mastercard credit card. In the same time, the app also lifts its top up limit to HKD$ 30,000 and HKD$ 50,000 to users who verified their identity with a residential address.
On 25 June, 2018, PayMe announced their collaboration with HKTVmall to provide their first online shopping payment service.
Maps PayMe
Features
PayMe was introduced as a standalone mobile app, which features as a P2P social payment app. Users first registers when a Facebook account or with an Hong Kong mobile phone number. It then asks to link a credit card or local bank account (does not need to be a HSBC account) for topping up their balance, and a bank account for receiving the money.
The social networking interaction component, similar to Venmo in the United States, allows users to send, request money, and split bills with others. When the user makes a transaction, the detail will be posted on the social timeline, and available for other users to see other's recent transaction. The transaction information may be set to visible to public or private. Transaction fee is not needed, and if a user does not have enough funds in the account when making a transaction, it will automatically withdraw the necessary funds from the registered bank account or card.
The app encourages users to add friends, by searching available contacts in the app. If a user makes a transaction to a non-PayMe user, a sharable payment link will be created and can be distributed through social media such as WhatsApp. When the user opens the link, they can choose to collect the money by inputting their bank account, or receive it by creating a new PayMe account.
References
See also
- AlipayHK
- WeChat Pay
- Octopus card
- JETCO
External links
- Official website
Source of the article : Wikipedia
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