Shopify Payments for Hong Kong SAR

Merchants based in Hong Kong SAR can use Shopify Payments to accept credit cards and other popular payment methods.

Requirements for Shopify Payments

To use Shopify Payments, ensure that you can meet the following requirements.

Prohibited businesses

Some types of businesses and services are not permitted to use Shopify Payments. To see whether you can use Shopify Payments, check the list of prohibited business types for Hong Kong SAR.

More details can be found in the Shopify Payments Terms of Service (TOS).

Bank account requirements for Shopify Payments

Make sure that your bank account meets the following requirements before you connect it to Shopify Payments:

  • The bank account is a denominated checking account with a bank in Hong Kong SAR in HKD currency.
  • The beneficiary name and legal entity must match the name and type of account of your associated bank account.
    • If your business is a Sole Proprietorship or an Individual, then you must attach an individual bank account with your personal legal name as beneficiary name.
    • If your business is a Corporation or Partnership, then you must attach a business bank account with the business name as beneficiary name.

Most checking accounts can accept the electronic bank transfer types listed above. Checking accounts that are set up to accept only wire transfers don't work with Shopify Payments. Savings accounts, flex-currency accounts, virtual accounts, and money-transferring services that mimic bank accounts aren't supported by Shopify Payments.

To confirm that your account can accept the transfer type listed for your region, contact your bank.

Personal information requirements for Shopify Payments

In response to regulations in different countries, you're required to provide information about you and your business. The information is collected to help identify merchants using Shopify Payments, including the beneficial owners of a particular corporate entity. The purpose of collecting this information is to comply with regulatory requirements designed to prevent money laundering, terrorist financing, and other financial crimes.

As local rules and regulations evolve, Shopify and its partners might reach out to collect additional information about you and your business. These standard reviews can occur at anytime during the lifespan of your Shopify account.

The information that Shopify is required to collect differs from country to country, but typically includes documentation about the following:

  • the individual creating the Shopify Payments account
  • the business associated with the Shopify Payments account.
  • the individuals who ultimately own or control the business, which includes the business owner or a senior executive with legal signing authority for the business

Acceptable document types for individuals and businesses in Hong Kong SAR include the following.

Identity documents:

  • Passport
  • Identity card: scans of front and back are required
  • Certificate of Registered Particulars
  • Certificate of Exemption
  • Vietnamese refugee card

Address documents:

  • Identity card: scans of front and back are required
  • Certificate of Registered Particulars
  • Utility bill
  • Bank statement
  • Telephone or mobile phone bill
  • Insurance company statement
  • Government or judiciary issued document
  • Tenancy agreement
  • Contract for sale of property
  • University bill or letter

Company/entity documents:

  • Commercial register extract
  • Certificate of Incorporation
  • Business registration certificate

Accepting payments

In most countries, when your business is a sole proprietorship you're automatically set up to accept all major payment methods as soon as you create your Shopify store with Shopify Payments enabled. Your card rate is based on your store's Shopify subscription plan, and you can change plans whenever you want.

Businesses in Hong Kong SAR can accept Visa, Mastercard, and American Express debit and credit cards.

Businesses in Hong Kong SAR can also accept payments using Bancontact, and iDEAL.

Pay periods

Your pay period refers to the amount of time between the date that a customer's payment is captured and the date that those funds are sent to your bank account. The date and time that a customer's payment is captured is recorded in UTC time. Funds from payments that are captured on Friday, Saturday, and Sunday are grouped and sent together as one payment.

In Hong Kong SAR, the pay period is 4 business days.

Learn more about to getting paid with Shopify Payments.

Tax reporting

As a merchant, you are required to abide by all applicable regulations, including tax reporting. Depending on your jurisdiction, Shopify Payments might also be required to report your sales to the local tax authorities.

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