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2024 best payment methods for online stores in Hong Kong
KPay
29 November 2024
Online store payment methods|With the increasing popularity of electronic payment, we no longer need to rely on cash for transactions. Many merchants and online shops have started to accept e-payment, including electronic wallet and credit cards, etc. Customers can choose the payment methods they prefer. However, which one is more suitable for you? What are the advantages and disadvantages of different payment methods? Which one has lower time and money cost? Below is a detailed breakdown for you!
Introduction
 
A comprehensive overview of various POS systems for online stores

Bank Transfer (ATM)
Faster Payment System (FPS)Credit Cards ** through payment gatewayPayMe for BusinessAlipayHK / WeChat Pay HKOctopus App for BusinessTap & Go
Online payment methods/
Transaction Fee1.2% - 1.5%1.5%
Advantages
Disadvantages
Bank transfer (ATM money transfer)
 
FPS
 
Credit cards

Credit cards generally refer to Visa, Mastercard, American Express, etc. Merchants can accept credit card payments through different third-party payment gateways, such as KPay Payment Link, Stripe, PayPal, Shopline Payment, etc. Some third-party platforms also support both online and offline payments, making it convenient for both online and physical shops to use them at the same time. Take KPay as an example, its online Payment Link and offline smart POS terminal both accept credit card payments, allowing merchants to manage all transaction records in one account. Even if you don't have an online shop, you can still collect payment instantly through the online Payment Link, which enhances the flexibility of transactions and allows you to collect payments online and offline without any boundaries.

Common third-party payment gateways that support credit card payment
 
PayMe for Business
 
AlipayHK / WeChat Pay HK
 
Octopus App for Business
 
Tap & Go
 
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