2025 Hong Kong E-Wallet Comparison: Top 5 Choices & Key Information for Merchants
According to DataReportal's 2024 report, 85.6% of Hong Kong residents have used electronic payments in the past year, indicating the growing popularity of e-wallets. In this article, we shared the key information of top 5 payment providers in Hong Kong.

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According to DataReportal's 2024 report, 85.6% of Hong Kong residents have used electronic payments in the past year, indicating the growing popularity of e-wallets in recent years. Customers prefer to use convenient and fast e-wallet apps for checkout, and accumulate points to redeem various offers. Therefore, for any restaurant owner looking to maximize their customer base, accepting a wide variety of e-wallets became a must for restaurants in Hong Kong.
This guide will delve into what e-wallets are, how they operate, and the benefits they bring to your business. We will provide a detailed comparison of the six major e-wallets in Hong Kong: Octopus, Alipay, WeChat Pay, PayMe, and Tap & Go. Learn how to leverage these payment tools to offer more flexible payment options, enhance customer satisfaction, and streamline your restaurant's operational processes.
Read more: Digital 2024: Hong Kong — DataReportal – Global Digital Insights
Benefits of Accepting E-Wallets for Hong Kong Merchants
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Customer Convenience:
Customers can make quick payments without the hassle of searching for cash or credit cards, enhancing payment efficiency and experience. This is especially beneficial during busy lunch or dinner hours in Hong Kong. -
Preventing Lost Sales:
According to Adyen's 2024 Retail Report, nearly 70% of Hong Kong residents say they would leave a store or abandon a purchase if it doesn't accept electronic payments. Additionally, nearly 60% of Hong Kong residents indicate they no longer carry cash and prefer to use mobile e-wallets. By introducing e-wallet payment options, merchants can cater to the evolving electronic payment habits of customers and prevent lost sales due to inconvenient payment methods, thereby securing valuable transactions. -
Providing Convenient Payment Options for Tourists:
In addition to the growing preference for e-wallets among Hong Kong residents, the rapid development and widespread adoption of electronic payment technologies in mainland China and other Asian countries mean that many tourists visiting Hong Kong may not exchange sufficient Hong Kong dollars in cash. Offering e-wallet payment options facilitates tourist spending, especially for e-wallets that support cross-border payments (such as Alipay and WeChat Pay), attracting more tourists from mainland China and other regions, expanding the customer base, and increasing sales opportunities. -
Reduced Cash Handling and Real-Time Transaction Tracking:
Reducing cash usage effectively lowers the risk of theft or miscounting. E-wallets provide instant transaction records, further mitigating fraud risks. For small restaurants with limited staff and fluctuating daily revenue, this not only simplifies cash flow management but also enhances security and operational efficiency. -
Enhanced Hygiene:
Following the pandemic, contactless payments have become more popular due to their hygiene advantages, meeting customers' health and safety needs while helping merchants maintain customer trust and improve the shopping experience. -
Points or Loyalty Programs:
Many e-wallets offer various reward points or loyalty programs to boost user engagement, which is particularly advantageous for restaurant operators looking to encourage repeat business. -
Integration with Food Delivery Platforms:
Food delivery platforms such as Foodpanda, Deliveroo, and Keeta have integrated mainstream e-wallet payment functionalities, helping merchants expand their customer reach, which is increasingly important for restaurants focusing on delivery services.
2025 Hong Kong Top 5 E-Wallet Comparison
Below is a detailed comparison of the five major e-wallet platforms in Hong Kong:
Platform | Company | Merchant Transaction Fees | Hong Kong User Count | Typical Merchant Types |
---|---|---|---|---|
PayMe | HSBC | Personal version: 1.2% fee for credit card top-ups. Business version: 1.2%-1.5% | 3 million | Retail stores, some restaurants, large chain stores, various service providers |
Octopus | Octopus Cards Limited | Bank account transfer fees are waived for the first 6 months, then 1.35% of the transaction amount | 98% penetration rate among 15-64 year olds | Public transportation, retail stores, some restaurants |
AlipayHK | Alipay Payment Services (HK) Limited | Varies by merchant type, with some physical transaction fees as low as 0% | 4 million | Large chain stores, some restaurants, retail stores, public transportation, supermarkets |
Tap & Go | HKT Payment Limited | 1.2% | No local data available | Retail, restaurants, online platforms |
WeChat Pay HK | Tencent | Base fee: 1.2%. First-year promotion: First HK$50,000 per month fee-free, 1.2% fee on transactions exceeding HK$50,000 | No local data available | Small and medium-sized merchants, restaurants |
1. PayMe
PayMe is a mobile electronic transfer application operated by HSBC, focusing on peer-to-peer (P2P) and merchant payments. Users can top up their PayMe e-wallet with any bank's credit card or HSBC account for transfers and receipts. In 2024, it surpassed 3 million users. With over 90,000 acceptance points in Hong Kong, including restaurants like McDonald's, it's suitable for various businesses. The personal version is fee-free, but there's a daily transfer limit of HKD 20,000.
Read more: PayMe by HSBC | Where can I pay with PayMe?
2. Octopus
Octopus is Hong Kong's longest-standing electronic payment tool, initially for transportation but now the most widely held e-wallet. According to official Octopus data, 98% of Hong Kong residents aged 15-64 hold an Octopus card. Its business extends to retail, dining, and daily consumption, with over 20 million Octopus cards in circulation and over 170,000 merchants accepting Octopus, including most Hong Kong restaurants, even those with lower turnover like cafes.
Read more: About Octopus - Octopus Hong Kong
3. AlipayHK (Alipay Hong Kong)
Officially launched in Hong Kong in 2017, AlipayHK is now accepted by over 150,000 merchants, including restaurants, retail, and service industries, and for bill payments at government agencies, broadband, and pay TV. From January 2025, AlipayHK will be included in the Public Transport Fare Subsidy Scheme, allowing Hong Kong residents to use "EasyGo" for single-trip payments on MTR, Shenzhen Metro, buses, and other public transport. It's estimated to have over 4 million active users in Hong Kong.
4. Tap & Go
Tap & Go supports Mastercard and UnionPay, and is accepted at major convenience stores like 7-Eleven. In 2023, it partnered with Thailand's PromptPay QR code payment and Hong Kong's FPS (Faster Payment System), enabling Tap & Go payments at over 8 million PromptPay merchants in Thailand without needing to exchange Thai baht, convenient for Hong Kong users who enjoy traveling to Thailand.
Read more: Tap & Go - Merchant
5. WeChat Pay HK
WeChat Pay HK fully integrates with the mainland's leading communication software, WeChat, offering cross-border payments with over 1 million partnered merchants in China, Hong Kong, and Macau. In addition to existing WeChat users, the number of Hong Kong users making small payments with WeChat Pay in mainland China is rapidly growing.
Read more: WeChat Pay HK - Innovative and convenient mobile payment tool | Enjoy payment anytime
Eliminate Manual Reconciliation with 365Pay Payment Solutions
With the increasing popularity of electronic payments in Hong Kong's catering industry, many merchants have adopted e-wallets like PayMe, Octopus, and AlipayHK to enhance customer convenience and operational efficiency.
However, many merchants find that even with electronic payments, reconciliation remains a challenge if these payment platforms are not integrated with the restaurant's POS system. Monthly reconciliation still requires finance staff or owners to manually compare reports from each payment platform, bank deposit records, and POS transaction records to verify transaction amounts, MDR fees, and actual deposit amounts. This manual process is time-consuming and prone to errors due to constant cross-platform comparisons.
Eats365's latest payment solution, 365pay, is designed to solve this reconciliation pain point. Seamlessly integrated with the Eats365 POS system, 365pay automatically matches each transaction with its associated fees, providing clear financial reports that allow merchants to view everything on a single platform, eliminating manual verification.
365pay fully supports complex catering operations, including self-service kiosk payments, tableside ordering and checkout, and online order pickups, while also being compatible with major credit cards like Visa and Mastercard, e-wallets like Octopus, AlipayHK, PayMe, and international payment platforms like Adyen, Global Payment, and Kpay, helping restaurant owners manage cash flow efficiently.
E-Wallet FAQs
What is the difference between an e-wallet and a credit card?
An e-wallet is a digital tool for storing payment information, while a credit card is a physical card linked to a credit account. E-wallets can link to credit cards or bank accounts for convenient mobile payments.
Which e-wallet is most popular in Hong Kong?
According to DataReportal's Digital 2024: Hong Kong report, AlipayHK and Octopus Wallet are the most downloaded e-wallet apps, ranking second and fifth, respectively.
Do e-wallets charge transaction fees to users?
It varies by platform, with some fees only for specific services. For example, PayMe charges a 1.2% fee for credit card top-ups.
How can restaurants apply to accept e-wallet payments?
Restaurants need to register with the e-wallet platform's merchant services. Each platform has its own process, which may require specific hardware or software.
Are e-wallet payments secure?
Yes. E-wallets use advanced encryption and security measures to protect user data and transaction information.
Can e-wallets be used for online ordering and delivery services?
Most e-wallet platforms support online payments, making them ideal for online ordering and delivery services.
Eats365, the leading restaurant POS system brand in Hong Kong, is trusted by over 7,000 restaurant owners worldwide, including well-known brands like The Coffee Academics, Kabo Burger, Niu Daren Taiwanese Hot Pot, Gyukaku, and Lan Kwai Fong Group.
Our strong third-party partnerships provide complete catering solutions tailored to various restaurant needs. By integrating self-service kiosks, online ordering, QR code ordering, and other customer self-service devices with the Eats365 POS system, Hong Kong restaurants can reduce labor costs and integrate with delivery platforms, membership systems, inventory management, and other third-party services to overcome recent challenges.
For more information on payment integration and online ordering POS solutions, consult our catering experts.