Payment methods in Hong Kong

Asia

11methods

42banks

Hong Kong's e-commerce market is worth US$22 billion — over US$3,000 per shopper per year.

Market takeaways

Hong Kong's e-commerce market is worth US$22 billion — over US$3,000 per shopper per year.
62% of online purchases are completed on mobile devices, up from 57% in 2020.
Card payments account for 44% of transactions, with a highly fragmented "Other" scheme category (69%) reflecting local card dominance.
77% of Hong Kong shoppers have made cross-border purchases, spending US$3.7 billion internationally (19% of total e-commerce).
E-wallet adoption is strong at 31% of transactions, driven by Octopus, Alipay HK, WeChat Pay HK, and PayMe.

Population

7.5M

Online population

6.9M

B2C e-commerce

$22B

Banked population

95%

Credit card population

74%

E-commerce of total retail

14%

Payment method breakdown

Card44%
Cash3%
Bank Transfer15%
E-Wallet31%
Other7%

Card scheme breakdown

Visa16%
Mastercard9%
American Express6%
Local Schemes0%
Other69%

Cross-border e-commerce

Cross-border shoppers

77%

Share of e-commerce

19%

Cross-border value (est.)

$3.7B

Featured payment methods in Hong Kong

Popular options based on coverage and prominence in this market.

UnionPay SecurePay

UnionPay is the world's largest card network by issued cards, and has deep penetration in Hong Kong alongside China's broader payment ecosystem. UnionPay SecurePay is the online payment authentication service enabling UnionPay cardholders to transact securely at e-commerce merchants globally. It is widely accepted by both local and international merchants serving Hong Kong consumers.

Octopus

Octopus is Hong Kong's iconic contactless stored-value card, originally designed for public transport. It has expanded into retail, dining, and online payments via the Octopus app and Octopus Online Payment service. It is one of the highest-adoption payment instruments in Hong Kong with near-universal awareness.

AlipayHK

Hong Kong localized Alipay wallet for QR, online and cross-border payments. Operator: Alipay Payment Services (HK) Ltd.. Est. users: Millions of users (2024).

PayMe

HSBC's popular Hong Kong wallet for P2P transfers and online/in-app merchant payments. Operator: HSBC (Hongkong and Shanghai Banking Corp.). Est. users: 3 million users (2024).

WeChat Pay HK

Hong Kong edition of WeChat Pay for local and cross-border QR and online payments. Operator: WeChat Pay Hong Kong Limited. Est. users: Millions of users (2024).

FPS (Faster Payment System)

HKMA's real-time payment system linking banks and wallets via phone, email or QR for instant payments. Operator: Hong Kong Interbank Clearing Limited (HKICL). Est. users: 14 million+ registrations (2024).

All payment methods in Hong Kong

Discover 11 payment methods from around the world

Showing 11 of 11 payment methods

AlipayHK

PayMe

WeChat Pay HK

FPS (Faster Payment System)

Featured banks in Hong Kong

Major institutions operating in this market.

Industrial and Commercial Bank of China (ICBC)

Beijing, China

ICBC is the world's largest bank by total assets and the largest of China's 'Big Four' state-owned banks. It offers retail, corporate, and investment banking globally.

JPMorgan Chase

New York, United States

JPMorgan Chase is the largest US bank and one of the world's largest financial institutions, offering consumer banking, investment banking, commercial banking, and asset management globally.

DBS Bank

Singapore

DBS Bank is Singapore's largest bank and Southeast Asia's leading bank, recognised globally for its digital innovation and strong retail, SME, and corporate banking.

HSBC Holdings

London, United Kingdom

HSBC is one of the world's largest banks by assets, headquartered in London with a dominant presence in Asia. It offers retail, commercial, and investment banking in over 60 countries.

HSBC Hong Kong

Hong Kong

HSBC is Hong Kong's largest bank and the note-issuing bank of the territory, offering retail, commercial, private, and investment banking.

UBS Group

Zurich, Switzerland

UBS Group is Switzerland's largest bank and one of the world's premier wealth managers. Following its acquisition of Credit Suisse in 2023, UBS now manages over $5 trillion in invested assets globally.