The global financial technology provider Adyen has partnered with HSBC's PayMe. This collaboration aims to provide Adyen's merchants with access to PayMe's user base and diverse payment options in Hong Kong.

PayMe is a payment app that was created in 2017 in Hong Kong. The platform has more than three million users and is accepted at over 65,000 physical and online outlets across the city. PayMe targets a wide range of consumers, from SMEs to large-scale retailers.

Eying Hong Kong's Payment Sector

Kai Tang, the Head of Hong Kong at Adyen, mentioned: "We are thrilled to partner with PayMe, a homegrown payment service with over three million users in Hong Kong. The partnership enables our local and global customers to provide Hong Kong shoppers more ways to purchase their favorite brands."

"By enabling one of the most popular local payment methods, we help merchants increase their revenue and open up new sales channels and markets – all with a single integration."

Last month, Adyen teamed up with Adobe Commerce to transform online and offline payment solutions for merchants operating on Adobe Commerce. By leveraging Adyen's expertise in payment processing, fraud prevention, and optimization, Adobe Commerce's customers have access to a suite of tools to enhance their payment processes.

This includes a unified commerce solution that integrates online and offline payments to provide merchants with a view of customers' transactions. Besides that, Adyen partnered with BT Group's digital and startup incubation arm to introduce a solution for small businesses. This collaboration aims to streamline contactless payments using Tap to Pay on iPhone.

Facilitating Payment Services

Additionally, Adyen collaborated with Straumur, a subsidiary of Kvika, to venture into the Icelandic market. Straumur facilitates transactions through in-person, e-commerce, and app channels, with a network serving 1,700 merchants across various sectors.

Under this partnership, Adyen serves as the card-acquiring bank for Straumur's operations in Iceland. The primary objective is to optimize payment processes for Straumur's merchants and consumers. Adyen's role involves consolidating payment data from all sales channels onto a unified platform to enhance payments across Iceland.