PayMe, a digital wallet under HSBC expands its user age limit to 12 years old

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Picture source: HSBC

20th March 2023 – (Hong Kong) PayMe, a digital wallet under HSBC, has announced that it will expand its user age limit to 12 years old, offering parents a more digital way to understand their children’s spending habits while supporting nearly 600,000 local young people to take their first steps towards financial management.

With this new initiative, parents can use PayMe’s various functions to transfer pocket money to their children anytime, anywhere. The spending and transfer records are also transparent, allowing parents to have a better understanding of their children’s spending habits. On the other hand, teenagers can enjoy the convenience of PayMe’s electronic payment system and manage their daily expenses using their own accounts, gradually building proper financial awareness.

This move is intended to promote financial health and development among young people in Hong Kong. Dharini Kannan Hemant, the head of PayMe, said that PayMe has more than 2.9 million users across different age groups, including many parents. As a digital wallet that belongs to Hong Kong people, PayMe is committed to promoting financial health among local young people and popularising financial development.

From now until 15th May, new PayMe users who are 12 to 18 years old or 35 years old and above will receive HK$50 CircleK discount coupons and HK$50 759 shop discount coupons respectively. The discount coupons will be automatically stored in the PayMe wallet and will be automatically used when customers spend HKD 50 or more at the designated stores using PayMe.

At present, there are more than 50,000 PayMe for Business physical and online stores throughout Hong Kong, including brands that are popular among young people, such as McDonald’s, 7-Eleven, KFC, Klook, Mannings, Muji, Sa Sa, Starbucks, UNIQLO, and Yoshinoya.

PayMe is designed to offer a digital and user-friendly experience, especially for young people who are already used to using their mobile phones for daily needs. By allowing them to manage their own accounts and providing a transparent and user-friendly experience, PayMe hopes to help young people build their financial foundations while supporting the development of digitalization and financial health in Hong Kong.