[category]
[title]
One of the city’s go-to electronic payment app PayMe is introducing some firm new rules for its users, and if you haven’t updated your details yet, you might find your digital wallet a lot less useful by the middle of next month.
HSBC has announced that users who top up their accounts using the bank’s credit cards must now provide their Hong Kong identity card details by May 14, or they will be locked out of almost all key features. This update is part of a move to beef up security and ensure the platform stays in line with local digital payment regulations.
While many of us have already gone through the verification process to unlock higher spending limits, a specific group of users who only use linked HSBC cards for quick top-ups without submitting official identification are now being asked to meet the same requirements as everyone else. If you don’t meet the deadline, the app will essentially go into a dormant state, where you’ll lose the ability to send or receive money from friends, pay for your lunch at local shops, or settle any outstanding bills – so, all the essentials that we use PayMe for everyday in Hong Kong. Even the digital red packets and handy features like Apple Pay, UnionPay, and FPS transactions will be suspended until the identity verification is complete.
Fortunately, getting it sorted is a fairly straightforward task within the app itself. You just need to head into the settings menu, select the option to view your transaction limits, and follow the prompts to upgrade with a quick scan of your identity card and a bit of facial recognition to confirm you are who you say you are.
Those who have already verified their identity or who top up via direct bank transfer won’t see any changes to their service. For everyone else, it is worth spending five minutes now to avoid a rejected payment when May 14 rolls around.
Stay in the loop: sign up for our free Time Out Hong Kong newsletter for the best of the city, straight to your inbox