Shopify Payments for Hong Kong SAR

Businesses based in Hong Kong SAR can use Shopify Payments to accept Visa, Mastercard, American Express, and UnionPay debit and credit cards. You can also accept Apple Pay, Google Pay, and Shop Pay.

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

Fees for Shopify Payments in Hong Kong SAR

Shopify Payments fees are location-dependent and can vary. To get the most accurate and detailed information regarding fees, visit the plans and pricing page for Hong Kong SAR. This page provides a breakdown of the rates and fees associated with Shopify Payments based on your selected plan.

View payment rates in your Shopify admin

If you're already a Shopify merchant, then you can access information about the specific rates and fees applicable to your store location and chosen plan.

Steps:

  1. From your Shopify admin, go to Settings > Payments.
  2. In the Shopify Payments section, click Manage.
  3. View the rates that apply to different 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.

Checking accounts that are set up to accept only wire transfers don't work with Shopify Payments. Savings accounts, flex-currency accounts, and money-transferring services that mimic bank accounts aren't supported by Shopify Payments. Although non-Shopify virtual accounts are supported, you might experience more payout failures with these accounts.

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 contact you to collect additional information about you and your business. These standard reviews can occur at any time during the lifespan of your Shopify Payments account.

The information that Shopify is required to collect differs from country to country, but typically includes details 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

To help the verification process, when providing documents as evidence, ensure that your documentation:

  • is clear and and large enough to read
  • is correct and valid
  • is up-to-date with the most recent date possible
  • is complete with all details visible
  • is free of any errors or typos
  • matches the information provided

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 activated. 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, American Express, and UnionPay debit and credit cards.

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

Businesses in Hong Kong SAR using Shopify Payments can accept payments online, but not in person with Shopify POS. To accept payments in person with Shopify POS, you must use an external card terminal with a third-party payment processor.

Pay periods

Your pay period refers to the amount of time between the moment that a customer's payment is captured and when those funds are sent to your bank account. The timestamp for capturing a customer's payment is recorded in Coordinated Universal Time (UTC). Payments captured on Friday, Saturday, and Sunday are consolidated and sent as a single payment.

In Hong Kong SAR, the pay period is 4 business days. The minimum amount that can be paid out for Shopify Payments accounts in Hong Kong SAR is 10 HKD. If there's a payout for less than this amount, then the payout stays in pending state until more funds are available to pay out.

Learn more about 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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