Compare the top 5 payment processing service providers in Hong Kong

According to the PolyU-Asklora Fintech Adoption Index, over 90% of consumers in Hong Kong use digital payments. Business data platform Statista also estimates that Hong Kong’s e-payment market will surpass US$111.1 billion in total transaction value by 2025. 

With digital payments becoming the norm, it’s crucial for eCommerce and retail businesses to choose the right payment processing service provider to deliver seamless checkout experiences and drive sales growth.

What is a payment processing company or service provider?

A payment processing service provider allows businesses to accept payments securely and conveniently. It offers various payment methods like credit cards, digital wallets, and bank transfers.

These providers usually deliver an all-in-one payment solution, including payment collection, settlement, and currency conversion. Some also offer reporting tools, allowing merchants to streamline operations and enhance customer experience.

Hong Kong’s top 5 payment service providers

• Airwallex

• Stripe

• PayPal

• Adyen

• Shopify Payments

Top features to look for in payment processing service providers

1. Cost

Merchants should compare transaction fees, monthly charges, and currency conversion rates across platforms. They should also watch out for hidden costs as some providers may charge extra fees for multi-currency transactions. Choosing a service provider with a transparent fee structure would help businesses to keep operating costs under control.

2. Global payment support

Selecting a provider that supports multi-currency transactions and global payment acceptance can help businesses expand into overseas markets. Businesses can also improve the checkout experience for international customers if the selected provider supports local payment methods and currency options.

3. Integration capabilities

Choose a provider that integrates seamlessly with your eCommerce platform, accounting software, or POS system. An ideal scenario is that the provider can offer easy, code-free integrations, helping you simplify workflows and minimise manual errors.

4. Security

Look for providers that meet international security standards (such as PCI DSS) and offer robust fraud prevention and encryption technologies. This protects your transaction data and funds, reducing financial risk for your business.

Payment processing service provider comparison

How can you reduce payment processing fees?

Understand Your business needs

Assess your transaction volume, customer locations, and required payment methods to select the most suitable fee model and provider. This helps avoid unnecessary expenses and boosts operational efficiency.

Minimise FX fees

Choose providers that offer local currency settlement and competitive FX rates, especially if your business has a large cross-border transaction volume. Reducing unnecessary currency conversions can help protect your profit margins.

Review payment service costs regularly

Periodically review your payment solutions and fee structures. Compare new options in the market and negotiate better terms or even switch providers to ensure you’re always getting the best deal.

Get clear on chargebacks

Be clear on your provider’s refund and chargeback policies, including additional fees and processing times. This helps you manage costs effectively and minimise losses when handling customer returns.

Why choose Airwallex as your payment service provider?

Airwallex offers a one-stop cross-border payment solution for businesses in Hong Kong and worldwide, enabling merchants to expand globally by accepting over 160 payment methods across 180+ countries and regions.

Airwallex offers transparent and competitive pricing, with a transaction fee of 3.3% + HK$2.35 for Visa, Mastercard, American Express, Apple Pay, and Google Pay payments. FX fees start as low as 0.2% above interbank rates. 

Businesses can open multi-currency accounts and easily directly connect with their eCommerce and accounting platforms like Shopify, WooCommerce, and Xero, saving on technical integration costs. On the security front, Airwallex meets the highest international security standards, including PCI DSS Level 1, and is equipped with anti-fraud, encryption, and multi-factor authentication features to safeguard your funds and data. 

The platform also offers functionalities like real-time transaction tracking and batch payment to enhance cash flow management.

Open an Airwallex account now to enjoy a payment processing solution with flexible integrations, diverse payment options, low costs, and enterprise-grade security.

Sources:

The information regarding the payment processing service providers was sourced in May 2025 from the following references. This content is for reference purposes only. Please visit the official websites of the providers for the latest details.

1. https://stripe.com/en-hk/global 

2. https://www.paypal.com/hk/webapps/mpp/country-worldwide

3. https://www.adyen.com/accept-payments

4. https://stripe.com/en-hk/pricing   

5. https://www.paypal.com/hk/business/paypal-business-fees

6. https://support.stripe.com/questions/faq-for-pricing-of-international-card-payments-in-singapore-and-hong-kong?locale=en-GB

7. https://help.shopify.com/en/manual/payments/shopify-payments/supported-countries  

8. https://www.shopify.com/hk-en/pricing 

Disclaimer: This article was written in May 2025 based on independent online research. While we strive for accuracy, we have not personally tested all tools or service providers mentioned. The content is for educational purposes only, and readers should evaluate service providers independently. We update our articles every six months. For updates and inquiries, please get in touch with us at [email protected]