Payments app takes two prizes

16 April 2018

An HSBC app that makes it quicker and easier for people to transfer money to their friends and family has won two technology awards.

PayMe, a social payments app, allows people living in Hong Kong to send money to other users of the app instantly, securely and for free with just a few taps on their phone – irrespective of the bank they use. To make a payment users do not need a friend’s bank account details – just their mobile phone number.

Users can send personalised messages, including emojis, alongside transactions. The app can be used to split a restaurant bill or settle up for a group outing, for example.

PayMe won the Gold Award in the Emerging Solutions and FinTech Security category, and the Grand Award, the top prize in the FinTech category, at April’s ICT (Information and Communications Technology) awards in Hong Kong.

The app was launched in early 2017, and by the end of the year had been used to process millions of transactions by hundreds of thousands of users. It is available to Hong Kong residents who have a Mastercard or Visa credit card.

Millennial appeal

The judges said: “PayMe is a well-developed application that is very user-friendly. Its social aspect to payment is appealing in the local market, especially for millennials.”

Kevin Martin, Head of Retail Banking and Wealth Management, Asia-Pacific, HSBC, said: “It is great to see PayMe being used by so many people in our Hong Kong community, from millennials to those in retirement.

“Serving the communities of Hong Kong has always been at the heart of our business and PayMe lets both our customers and non-customers enjoy the safety, ease and social interaction of a new way to make payments.”