Payment collection on Shopify: methods, fees, and setup guide for Hong Kong businesses

For Hong Kong merchants, selecting the right Shopify payment solution is key to optimising costs and efficiency. This guide offers a detailed comparison of popular platforms – including Shopify Payments, Airwallex, Wise, Stripe, and PayPal – to help you find the best fit for your business. We’ll break down their unique features, fees, and setup processes to help you find the best solutions for your business.

Shopify settlement accounts: comparison of Airwallex and Wise

Airwallex offers a free Business Account that allows you to collect funds in over 20 currencies. It seamlessly integrates with Shopify without any coding, enabling you to manage your online payments and revenue settlements all in one place.

Wise (formerly TransferWise) primarily offers remittance services. While businesses can connect their Wise accounts to their Shopify stores, its multi-currency account currently supports just over 18 currencies.

Now, let's take a closer look at the key payment solutions available to Hong Kong businesses on Shopify.

Popular Shopify payment collection solutions

1. Shopify Payments

Hong Kong merchants can use Shopify Payments to accept Visa, Mastercard, American Express, and UnionPay credit and debit cards. It also supports Apple Pay and Google Pay, offering a convenient checkout experience for your customers.

Merchants using Shopify Payments can avoid additional transaction fees. However, a third-party transaction fee from Shopify is charged when using an external provider, on top of any credit card fees.

*These fees apply to businesses with a Hong Kong entity. For the latest rates, please refer to Shopify’s official website. 

However, since Shopify does not natively support local Hong Kong payment methods like FPS (Faster Payment System) and WeChat Pay, merchants can integrate with a third-party payment provider like Airwallex to consolidate these payment options.

2. Stripe

Stripe supports a range of currencies and payment methods, including credit cards, Apple Pay, and Google Pay, and its API can be connected to Shopify. The fee for each local card transaction is 3.4% + HK$2.35, and a 2% conversion fee applies if currency exchange is involved.

3. PayPal

As a third-party payment solution, PayPal allows businesses on Shopify to accept payments from buyers both locally and internationally. While there are no monthly fees for merchants, the fee for each transaction is approximately 3.9% + HK$2.35. Payouts to Hong Kong merchants typically take four business days, which is a key consideration for businesses managing cash flow.

4. Airwallex

Airwallex is a financial platform designed for online stores and multinational businesses. It helps Hong Kong merchants receive payments directly from local and overseas customers on Shopify. Through seamless integration with Shopify, businesses can offer over 160 payment methods, including credit cards, Apple Pay, Google Pay, and local Hong Kong options like FPS, Alipay, and WeChat Pay, and accept payments from over 180 countries.

A key benefit of Airwallex is like-for-like settlement, which allows you to settle payments in the same currency a customer use. This helps merchants avoid forced conversion fees, and exchange rate risks.

Airwallex's multi-currency capabilities extend beyond collecting payments. When paying international suppliers, the platform charges $0 for transactions via local rail, with 95% arriving on the same day.

Comparing fees for Airwallex, Stripe, and PayPal

To make a more informed choice, let's compare the fees across Airwallex, Stripe, and PayPal. Different platforms have varying fee structures for transaction fees, monthly fees, withdrawal fees, and exchange rates. The following table outlines the credit card transaction fees for major platforms:

Other costs and currency exchange fees to watch out for

When choosing a payment solution, it’s crucial to look beyond just the per-transaction fees. You should also evaluate other costs like currency conversion fees and fluctuations in exchange rates at the time of withdrawal. For example, if a customer pays in a currency other than HKD, Stripe charges a 2% currency conversion fee, while PayPal sets its own exchange rate based on the interbank rate of the day and adds an extra service charge.

By using Airwallex for online payments, you can settle funds in the same currency that your customer paid in, which means you avoid platform conversion fees and reduce transaction costs. If you need to convert currency, you can still enjoy Airwallex’s market-leading exchange rates, with fees as low as 0.2% above the interbank rate.

Boost your conversion rate and enhance payment security with Airwallex

Airwallex provides a comprehensive suite of Shopify payment solutions for Hong Kong merchants. It supports over 160 payment methods, covering global credit cards, e-wallets, and local payment options, which effectively meets both cross-border and local payment needs. The system also supports automatic reconciliation and batch settlement, making it easier for multi-store or multi-brand businesses to manage their cash flow efficiently and improve cash flow turnover.

On the security front, Airwallex adheres to strict international standards. The platform is licensed as a Money Service Operator (MSO) in Hong Kong and holds multiple data security certifications like PCI DSS, SOC1, and SOC2. It also employs multi-factor authentication, behavioural analysis, and machine learning to detect fraud in real-time, significantly reducing the risk of data or fund leakage and ensuring your account's safety.

Frequently asked questions

1. What payment solution providers are available for Hong Kong businesses on Shopify?

Hong Kong businesses can use Shopify Payments or third-party gateways like Airwallex, offering various local and international payment options. Airwallex Checkout supports 160+ local payment methods and 130+ currencies.

2. Can Hong Kong merchants use FPS to accept payments on Shopify?

Yes, Hong Kong businesses can accept FPS on their Shopify stores by integrating a third-party payment platform like Airwallex.

3. Is Shopify revenue subject to tax in Hong Kong?

All profits received by Hong Kong businesses through Shopify payments are considered company operating income and must be declared according to the Hong Kong Inland Revenue Ordinance. Businesses should keep their transaction records and invoices, and consult with an accountant or refer to official tax authority guidelines to ensure compliance with local regulations.

4. How to set up and activate payment methods on Shopify?

To activate your Shopify payment features, simply go to the “Payments” section in your Shopify admin, select your desired payment channel, and follow the instructions to link your business account or connect via API.

Sources:

Information regarding Shopify was obtained from the following sources as of July 2025. This information is provided for reference only. For the most up-to-date details, please visit the respective official websites.

1. https://help.shopify.com/en/manual/payments/shopify-payments/payouts/payout-periods

2. https://www.shopify.com/zh/blog/introduction-to-shopify-payments 

3. https://docs.stripe.com/currencies

4. https://stripe.com/en-hk/pricing 

5. https://stripe.com/en-hk/pricing/local-payment-methods 

6. https://www.paypal.com/hk/digital-wallet/paypal-consumer-fees

7. https://www.paypal.com/tw/cshelp/article/%E5%93%AA%E8%A3%A1%E5%8F%AF%E6%89%BE%E5%88%B0-paypal-%E7%9A%84%E8%B2%A8%E5%B9%A3%E8%BD%89%E6%8F%9B%E5%99%A8%E5%92%8C%E5%8C%AF%E7%8E%87%EF%BC%9F-help109 

Disclaimer: This article was prepared in July 2025 based on voluntary online research and publicly available information. We have not personally tested every tool or provider mentioned. This article is for educational purposes only, and readers should independently evaluate each service provider based on their specific business requirements. Content is updated every six months. To request an update, please contact us at [email protected].