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Hong Kong Tips: 8 Ways to Make Payments in Hong Kong

  • Writer: Rick
    Rick
  • 2 days ago
  • 11 min read

Updated: 9 hours ago

Both Hong Kong and Macau are Special Administrative Regions (SARs) of China and maintain a high degree of autonomy, with their own separate legal and economic systems, as well as distinct governing bodies. As such, Hong Kong has its own payment methods for use within its own borders as well as cross-border solutions influenced by mainland China.


Cashless Payment in Hong Kong

Be it travelling in Hong Kong, or extending the trip to Macau and/or mainland China, knowing applicable payment methods in Hong Kong and their capabilities will make payment for goods and services easier in Greater China, excluding Taiwan. Aside from the two traditional methods, cash and international credit / debit cards, at opposing ends of the payment spectrum, this article will include modern solutions — 3 Singapore-based, 2 international and 1 local — to bridge the "cashless" gap.


In the context of this article, "China" refers to the whole of China, including Hong Kong and Macau. "Mainland China" refers to the rest of China excluding Hong Kong and Macau. This article will also focus on payments at retailers and for public transports, which are more applicable for travellers.



1. Cash


The official currency of Hong Kong is the Hong Kong Dollar (code: HKD, symbol: HK$) and is recognised globally as a major currency and is the ninth most traded currency globally.


Despite being a major international financial hub, Hong Kong has been slower than many other Asian cities to shift away from cash and traditional card payments. Thus, cash is still widely accepted at all merchants and public transports in Hong Kong, and small merchants will usually prefer cash for payments over technological means that add-on to their cost overheads.


HKD can also be used for cash purchase of goods and services in Macau on a 1-to-1 basis — even though the Macanese Patacas (code: MOP, symbol: MOP$) is pegged to Hong Kong Dollar at 1 HK$ : 1.03 MOP$ with no limit. However, the MOP cannot be used in Hong Kong.



China Renminbi / Yuan (code: RMB / CNY, symbol: CN¥) may be accepted at some establishments but at unfavourable exchange rates, so it is better to use HKD. Most merchants may not be able to give changes for cash payments made in CNY.



2. International Credit / Debit Cards


International credit / debit cards have been the de facto means to make cashless payments when travelling overseas and cards like Visa, Mastercard, UnionPay, etc, are widely accepted in Hong Kong. Amex may be accepted at larger establishments but not as widely as the others.


The use of credit / debit cards is limited to larger or more established businesses due to high costs of implementation. Some merchants may require minimum purchase amounts before accepting such cards. Thus, credit / debit cards have limited use among smaller merchants, which form the majority in Hong Kong.


Physical credit / debit cards, and contactless equivalent on NFC-enabled devices, can also be used to pay for fares onboard certain public buses, especially Airport express buses, and also at light-blue fare gates in Mass Transit Railway (MTR) stations. Note that discounted fares may not be applicable when using foreign credit / debit cards on public transports in Hong Kong.


Key Points:

  1. Cash withdrawals from local ATMs using credit cards are "cash advances" and subject to higher interest rates and applicable fees.

  2. Cash withdrawals from local ATMs using debit cards deduct amounts from applicable accounts directly / via e-wallets and may subject to prevailing exchange rates (if conversions are required) and applicable fees.

  3. Credit / debit card is susceptible to theft and misuse, so do enable PayWave for tap-to-pay and avoid letting the card out of sight.

  4. For debit cards, top-up linked e-wallet with adequate amount for short-term use and avoid direct debits from bank accounts.



3. YouTrip (Debit Card)


YouTrip is a prepaid debit card service, tied to an e-wallet, based in Singapore that has became very popular. With multiple currencies stored in one e-wallet, and powered by Mastercard, YouTrip is useful for travel use and works like a credit card. As a debit-only service, the e-wallet needs to be topped up with funds before payments can be made. The key benefit of using YouTrip is its better exchange rates over banks, money changers and many other applications.



YouTrip has a currency conversion facility for exchanging Hong Kong Dollar and storing the converted amount in the e-wallet for direct debits. Amounts paid in HKD will be deducted from available HKD fund stored in the e-wallet. If there are insufficient funds, the paid amount will be converted to SGD, or any other currencies with available funds, at YouTrip's prevailing conversion rates at time of purchase.


Aside from paying at retailers that support international credit / debit cards, YouTrip's physical card and virtual card (via NFC-enabled mobile device) can also be used to pay for fares in Hong Kong onboard certain public buses and at light-blue fare gates in MTR stations.



4. Changi Pay (eWallet)


Changi Pay is a digital wallet that is integrated into Singapore's Changi App that facilitates cashless payments at Changi Airport and Jewel Changi Airport, as well as globally via the Alipay+ payment network. The e-wallet allows residents in Singapore to top up funds into a linked Liquid Account for seamless QR code payments in participating countries, including mainland China, Hong Kong, Macau, etc, without needing a local bank account. Users can also manage e-vouchers, earn Changi Rewards points, and enjoy competitive exchange rates with no foreign transaction fees when paying abroad.


Riding on the Alipay+ network, Changi Pay can be used to make payments at retailers that support payments via Alipay+ but it cannot be used on public transports in Hong Kong.


Key Points:

  1. Download "Changi App" from authorised app stores.  

  2. Setup Liquid Account with Singapore-registered mobile number and verify identity with SingPass.

  3. Top-up e-wallet with SGD fund via PayNow.

  4. Scan Alipay+ QR codes for payment in Hong Kong or other supported countries (about 57 in total at time of writing).

  5. There is no transaction fees for overseas payment.

  6. Exchange rate is determined by Alipay+ at time of transaction and both the rate and converted amount in SGD will be indicated on the app before confirming payment. The converted amount will be deducted from the e-wallet.

  7. Remaining funds in Changi Pay can be withdrawn by downloading "Liquid Pay" app and request for withdrawal.




5. EZ-Link Wallet


The EZ-Link payment system began as a transport card for payments of MRT and bus fares on public transports in Singapore. Many Singapore residents and foreigners residing in Singapore will have an EZ-Link card. Unknown to many, the EZ-Link system also supports a digital payment solution, called EZ-Link Wallet.


While the EZ-Link card is for use in Singapore only, EZ-Link Wallet allows online and in-store payments using a virtual Mastercard or by scanning QR codes, including SGQR codes, at participating merchants both in Singapore and overseas. The wallet enables easy top-ups from a linked bank card and offers rewards and promotions for its users.


EZ-Link Wallet, powered by Mastercard, can be added to Apple Wallet or Google Pay on NFC-enabled devices for contactless payments at merchants that accept Mastercard both in Singapore and overseas. It works like a credit / debit card.


Similar to Changi Pay, EZ-Link Wallet also rides on the Alipay+ payment network for cross-border payments. Make payments at merchants by scanning Alipay+ QR codes.


Key Points:

  1. Download "EZ-Link" from authorised app stores.  

  2. Setup account with a mobile number and email. Singapore residents can verify their identity with SingPass and foreign residents with FIN.

  3. Top-up e-wallet with SGD fund via bank / credit / debit card.

  4. Overseas payments via scanning of Alipay+ QR codes in Hong Kong, or other supported countries, will use exchange rate determined by Alipay+ at time of transaction and both the rate and converted amount in SGD will be indicated on the app before confirming payment.

  5. Overseas payments via Pay by Wallet (Mastercard) will incur 1~2% fees for cross-border transactions and exchange rate will be determined by Mastercard.

  6. All payment amounts (SGD) will be deducted from the e-wallet.




6. Alipay & WeChat Pay


Alipay (支付宝) and WeChat Pay (微信支付) are mobile payment applications and ride on the Alipay+ mobile payment solution for cross-border payments. Alipay is a dedicated mobile payment app whereas WeChat Pay is a sub-feature in the WeChat app more for social interactions. Making payments using Alipay and WeChat Pay, via the Alipay+ network, are also accepted in Hong Kong.


While EZ-Link and Changi Pay are available mainly to Singapore residents, including foreign residents, travellers from other regions can use the international versions of Alipay and WeChat Pay to make payments in Hong Kong. Those with WeChat accounts can make use of WeChat Pay as a seamless payment option. Those without any of the two apps should get the Alipay app, which included a series of in-app mini-programs for booking hotels, flights, trains, Didi Travel, cross-border transportation, etc, in mainland China.


Riding on the Alipay+ network, both Alipay and WeChat Pay can be used to make payments at retailers that support payments via Alipay+ but it cannot be used on public transports in Hong Kong.


Note that AlipayHK is tailored for use by Hong Kong residents and has wider acceptance than Alipay in Hong Kong. AlipayHK can be used at fare gates in MTR stations but not Alipay for non-residents.


Key Points:

  1. Download "Alipay" from authorised app stores. Search for "Alipay international" to find the correct app. There are also "Alipay HK" and "Alipay Macau" tailored for local residents.

  2. Setup account with a mobile number, upload identification documents and make sure to verify identity — don't wait until the first payment and have to perform verification with a queue behind.

  3. For international users without Chinese bank cards, link an international bank card, credit / debit card to start making payments. All payments will be charged to the linked card. There is no need to top-up the e-wallet.

  4. Scan Alipay+ QR codes for payment in Hong Kong or other supported countries.

  5. A transaction fee of 3% is charged for purchases above CN¥200 (or equivalent) using a linked international card.

  6. Exchange rate is determined by Alipay+ at time of purchase and both the rate and converted amount in SGD (for Singapore residents) will be indicated on the app before confirming payment. The converted amount will be charged to the cards.


More: Alipay+



7. Octopus Card


The Octopus card is a reusable contactless smart card for electronic payments in Hong Kong, first launched in 1997 for public transport fares. It is now widely used for a vast range of transactions, including retail purchases, dining, and building access, and is becoming an essential part of daily life in Hong Kong. Many merchants adopted the Octopus system for payment.


Payment Methods in Hong Kong: Octopus card

There are 2 types of Octopus cards: the standard Octopus card for use in Hong Kong (and some merchants in Macau) and the other is the Octopus - China T-Union card (with a China T-Union logo) for use in Hong Kong, Macau and mainland China.


The Octopus - China T-Union card features two separate e-wallets, one for Hong Kong Dollar (HKD) and the other for Chinese Yuan (RMB), enabling convenient payment for local consumption in Hong Kong and on public transports in Macau and mainland China. When used in Macau, MOP$ will be converted to RMB and the amount deducted from the RMB e-wallet.


Key Points:

  1. Purchase the Octopus card at designated outlets, such as convenience stores (like 7-Eleven, Circle K) or MTR Customer Service Centres, in cash only.

  2. The standard cards are available in various types at different prices. A refundable deposit of HK$50 is applicable for on-loan card whereas sold card (tourist souvenir card) has non-refundable card fee of HK$39.

  3. The Octopus - China T-Union card costs HK$42 for the card itself with no initial balance — top-up is required before first-use. The Octopus app is required to convert HKD fund to RMB for use on public transports in mainland China and Macau. Topping-up the card with RMB directly is NOT supported.

  4. Top-up both cards at designated outlets or self-service vending machines using cash only, or via Octopus app linked with a Hong Kong-issued bank / credit / debit card. 

  5. Using the cards for MTR and bus fares within Hong Kong can enjoy discounted fares compared to paying with cash. 

  6. Remaining balance on any card can be refunded by returning it to MTR Customer Service Centres. Amount less than HK$500 will be refunded on the spot whereas higher amount will take several days. A handling fee of HK$11 or 1% of the remaining value, whichever is higher, will be charged for return of card within 90 days from date of issue, has 5 or less transactions, or the remaining value is more than HK$1,000.




8. Octopus for Tourists App


The Octopus for Tourists app allows visitors to Hong Kong to create a digital Octopus card on their compatible iPhone or Huawei device, eliminating the need for a physical card. It is the official application for non-local residents to manage their digital Octopus, allowing for convenient mobile payments throughout the city.


Travellers with iPhones / Huawei devices can setup the app before arriving in Hong Kong and use it immediately after touch-down. The Octopus for Tourists app supports top-ups via foreign-issued credit / debit cards whereas the Octopus app accepts only Hong Kong-issued cards.


Key Points:

  1. Download "Octopus for Tourists" from respective app stores. 

  2. Add a new card (on app) or transfer a physical card to the app (the physical card cannot be used anymore after the transfer).

  3. For new card, top it up with fund, using non-Hong Kong-issued credit / debit card, plus a one-time refundable HK$50 deposit. Exchange rate is determined by Octopus at time of topping-up and it may not be favourable (approx. 6%) — well, the company has to earn something.

  4. Note that top-ups using YouTrip (via Mastercard) will not result in any savings as "HKD" cannot be selected as the payment currency and all conversions to non-HKD currencies are done by Octopus.

  5. Add the virtual card to Apple / Huawei Wallet app. Tap the mobile device on Octopus card readers to pay via NFC.

  6. The app allows payments to be made so long as there are available balance. Over-payment exceeding the minimum limit of -HK$35 will be declined.

  7. Refund of any remaining balance, including refundable deposit, of a card within 90 days from date of issue will incur a handling fee of HK$11. Refunded amount will be credited back to the credit / debit card used.




9. Others


Notwithstanding the above methods, other e-wallet apps that ride on the Alipay+ network can also be used for payment in Hong Kong — such as Malaysia's Touch-n-Go eWallet. For these payment apps, look for Alipay+ logo and scan the corresponding QR codes at participating merchants. Exchange rate is determined by Alipay+ and transaction fees (if any) is determined by the applications.


DBS Paylah! can also be used in Hong Kong at participating merchants that support China UnionPay with QR code-enabled. Launch the app to scan UnionPay's QR code to pay or select the "SG & Others" region to generate a QR code and let the merchant scans it. There are no transaction fees and exchange rate is determined by DBS Bank.



Contactless payment apps, such as Apple Pay, Google Pay, etc, can also be used for payment after linking a bank / credit / debit card and pay by presenting the NFC-enabled mobile device to contactless card readers. They work like credit / debit cards. Payments will be charged to the linked card or deducted from stored value in e-wallet (if applicable). Exchange rate and transaction fees (if any) varies depending on the applications.



—

For Singapore residents, both YouTrip and Changi Pay / EZ-Link Wallet, with some cash, should be adequate to meet most travelling needs in Hong Kong. For non-Singapore residents or those without Changi Pay / EZ-Link Wallet, get Alipay or any e-wallet apps that rides on the Alipay+ network for cross-border payments.


However, bear in mind that AlipayHK has wider acceptance than Alipay and payment apps riding on the Alipay+ network may not be accepted at non-tourist-related merchants.


The Octopus card / Octopus for Tourists app is a better option to fill the gaps and save on public transport costs and avoid hassles in handling cash and changes, especially at retail outlets that do not support payments by credit / debit cards and Alipay+. Be mindful that the card can only be purchased and topped-up with cash.


For long stayers in Hong Kong or frequent travellers to China, the Octopus - China T-Union card — with Octopus app for cashless top-ups and conversions to RMB — may be a better option.


At a glance...

Large establishments (hotels, restaurants, shopping centres, supermarkets, etc)

Credit card / debit card / Alipay+ / Octopus / cash

MTR, public buses

Credit card / debit card / Octopus / cash

Medium-size merchants

Alipay+ / Octopus / cash

Small merchants

Octopus / cash

* Alipay+ includes Alipay, WeChat Pay, Changi Pay, EZ-Link Wallet, etc.


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