Shopify Payments in Hong Kong: Payment Gateway Options for Hong Kong Merchants

Last Updated: February 22, 2021

If you’re thinking about ecommerce and building your own online store in Hong Kong using Shopify, you’re going to eventually ask about collecting payments online. In recent years, new payment options such as Apple Pay and Alipay have made shopping easier. Online shoppers today expect convenient and frictionless payments as a must-have for a great online customer experience.

In our experience, we sometimes see clients put off thinking about payments until they are ready to launch their store. We caution against that because even though Shopify has a lot of payment gateway options, we recommend that you start researching different Shopify payment options early and set up your merchant account so that accepting payments doesn’t become the bottleneck for launch as you get close to rolling out your Shopify store.

In this post, we will discuss different payment gateway options for Shopify Hong Kong merchants and some of the considerations for selecting a payment gateway.

Shopify Payments is Available in Hong Kong

Shopify Payments is available in Hong Kong as well as many other markets such as the United States, Puerto Rico, Canada, the United Kingdom, Ireland, Australia, New Zealand, and Singapore. All merchants using Shopify Payments can enjoy multicurrency support for ten major currencies, meaning that shoppers who select this checkout can use their local currency to make a payment.

In addition, Shopify has a list of supported Hong Kong payment gateways, including Paypal, Alipay, and AsiaPay. Shopify allows merchants to offer customers multiple payment options for convenience, but note that these third-party payment platforms do not have the same local currency checkout support for payments. It is possible to offer Shopify Payments for credit card transactions, Apple Pay, Google Pay, manual payments such as Cash-On-Deliver (COD), bank transfers, and PayMe.

In the past, payment gateway solutions were fragmented market due to factors such as needing to support localized payment options, currency and exchanges and banking regulations. Now, merchants can choose regional payment gateways in addition to Shopify Payments. If you are considering additional options, choose a payment gateway that is:

  1. supported in your target markets,
  2. convenient for your shoppers, and
  3. is economical and easy to manage for you.

We recommend reaching out to payment gateway vendors early to understand:

  1. if they will do business with you (as some policies/restrictions on the types of businesses they serve)
  2. their setup and per transaction rates/fees and
  3. if they can accommodate any special business requirements you may have.

Now, let’s discuss factors to compare between payment gateway options that may affect your business.

What to Ask When Choosing a Payment Gateway

Payment Gateway Fees

The obvious bottom line for many merchants is to look for the best rates. As such, merchants will have to do calculations to compare between any differences in fee structures amongst different payment gateways. For example, Paypal has a tiered pricing model while Stripe generally has a flat fee structure for businesses. Payment gateways may also charge differently for local versus cross-border transactions. Estimate your sales volume, payments across currencies and contact payment vendors to see what their rates are for your business type and if they may have any special offers.

Cross-border or Multi-Currency Rates

For companies looking to do cross border ecommerce, foreign currency transaction fees will also be an important factor. For example, if you have you have a Hong Kong bank account and take US dollars when selling to the US, you’ll want to think about how money ultimately flows back into your Hong Kong bank account and what are all of the accompanying transaction fees. For example, some vendors like Stripe may allow you to withdraw the US dollars into your Hong Kong account without converting to HKD, while Paypal may require you convert your USD into HKD first before depositing in your local Hong Kong bank (which may incur exchange rate costs).

Checkout Flow

Fees, while obviously important, shouldn’t be the only consideration factor. Evaluating how the payment solution integrates into your Shopify store and the shopper’s checkout flow is critical as checkout usability can affect shopper purchasing and cart abandonment. Think about how important on-site vs off-site checkout is to your shopper base. We refer to on-site payments as allowing users to pay directly within your online store, while off-site payments means a redirection to the payment gateway’s page (e.g., redirecting to the Paypal or AsiaPay site for final payment).

We recommend that merchants find out how the checkout flow works for different payment gateways in the early stages of your store building project.

Payment Options

Sometimes choosing a payment gateway may also depend on the payment methods that your target shoppers prefer. For example, merchants selling to customers from mainland China will want to factor in options such as Alipay or WeChat Pay while those selling to tech-savvy shoppers may want to consider supporting options such as Apple Pay and Google Pay. Hong Kong merchants may want to turn on manual payment options such as Cash-On-Delivery (COD) and bank transfers. In addition, Shopify allows merchants to create custom payments, such as PayMe.

Merchant Protections

Another reason we encourage merchants to speak to payment gateway representatives is because the representative can explain details of what merchant protections are offered, how disputes are handled, and any other payment handling procedures that merchants should be aware of. In the ecommerce industry, depending on what you are selling and who you are selling to, you may run into shopper chargebacks or fraud. Understanding how your payment vendor will handle these cases helps mitigate potential risks.

Your Specific Requirements

What special requirements might an online business have? Some examples include the authorization period, which is the number of days a merchant can have to receive the balance once a shopper’s payment is authorized.

How do the Different Payment Gateways Compare?

This isn’t an exhaustive list of payment gateway options supported by Shopify in Hong Kong, but simply a few common ones that we’ve been asked about from our clients.


Founded in 1999, PayPal is one of the global leaders in online payment processing and according to Datanyze, has over 80% online market share in Hong Kong in a sample of 800+ domains.

Paypal has a tiered fee structure based on sales volume that starts at HK$2.35 plus a % of the invoiced amount. Note that Hong Kong transactions and cross-border transactions have different fees. Paypal does not charge for withdrawal from their platform to your local bank account (such as US Dollars to a US bank account or HK Dollars to a Hong Kong account), but it does charge if the currency differs from the receiving account.

When merchants set up a Shopify store, Shopifycreates a Paypal Express Checkout account automatically with the email address used for the Shopify store. Merchants with existing Paypal accounts will receive PayPal payments right away. Merchants can also test the Paypal integration on a trial Shopify account once they have launched the store (which means it is viewable to the public).

AsiaPay (PayDollar)

AsiaPay was founded in 2000 and is used by many local Hong Kong based companies. Some of the clients listed on their website include household names as Cathay Pacific and HKTVmall. They support diverse payment options such as China Unionpay, Alipay, PPS, and WeChat Pay.

AsiaPay, which has presences in Singapore, London, China and other countries and has multi-currency support. Merchants will have to contact the company directly ask for rates and setup support.

Alipay Global

If you plan to cater to online shoppers from Mainland China, consider using Alipay Global, which can be integrated into Shopify stores. Alipay has already been adopted by international companies such as Macy’s, Bloomingdales, Air Asia, and Cathay Dragon. Note that with Alipay Global, a customer pays in RMB, but merchants get paid in USD, HKD or one of the platform’s 12 supported currencies.

The platform also has a demo for cross-border online payments. Alipay Global takes a percentage fee of the total transaction volume per month. Applicants will need to apply for an account and submit business documents to Alipay Global.

Online payments is a crucial part of the ecommerce experience. The payment gateway that you choose can help encourage sales by providing your target customers with their choice payment options. Consider shopper needs, your specific business requirements and the rates and fees offered by different vendors based on your sales volume and target markets (factoring in currency exchanges and surcharges).

Finally, ensure that your payment gateway is easy to integrate into your online store. By giving yourself time to research payment options in parallel with your online store development, you can ensure timely store launch.

Wave Commerce is a Shopify and BigCommerce partner and may receive affiliate revenue from merchant subscriptions to these platforms.