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davidhme
Guest

Hey Mike,

Was just googling “Stripe in HK” and found your site. Didn’t realize you launched a podcast =)

Another interesting link:
https://gist.github.com/joeybeninghove/5421015

Anyways, I just subscribed and I’m about to listen to this episode.

Michael Michelini
Guest

(catching up w/ comments after being up in Chengdu with limited internet)

thanks David – glad you found my podcast – ya I mentioned it when I launched in Dynamite Circle end of October – been a bit shy to push it too much I guess! 😉

Thanks for this list – I am compiling a ton of options for an ongoing analysis and comparison.

Hope you enjoyed this podcast – feedback welcome – both positive and negative!

this episode i did it solo – normally I am interviewing people

davidhme
Guest

Yeah the episode was great. I also listened to the episode about Worldpay, good stuff.

Quick questions (let me know if there’s an episode about this):

1. How much bureaucracy is involved in running a HK corp? I guess accounting + audits are the bulk of it?

2. A friend’s HK corp got audited and the company doing the audit told him that he’ll have to print out all of his receipts (40k pieces of paper!). Is that normal? Sounds like a pretty bad level of bureaucracy.

Michael Michelini
Guest

Not covered yet but good episode topic! I literally just setup voicemail recording via GlobalfromAsia.Com/voicemail and would rock if you could leave a message and be the first caller on the podcast!!!!

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[…] more podcasts about merchant accounts. Worldpay offshore merchant account application process and Trying to Get Stripe to Come to Hong Kong. Will work on more and […]

jack
Guest
jack

Mike, any thoughts on Paymentwall?

Michael Michelini
Guest

Hi Jack,

Honestly never heard of them. I’ll look into it, any insights on your side to share ?

jack
Guest
jack

Hey Mike, I’ve read some favorable reviews and their rates for processing CC payments seem on par with those of Stripe — 2.9% +.30 / transaction and no set-up fees, etc. However, it’s primarily designed for selling SAAS, recurring subscriptions, or digital coins ie dating sites and gaming. They also have another service for being able to accept myriad alternative payment methods for different local markets (in 200+ countries and 25+ languages). The only downside I can see is that they’re really not set up to handle payments for physical goods, as the CEO states in one of the links… Read more »

Michael Michelini
Guest

Wow,
This sounds too good to be true 🙂

Sure let me reach out to him for an interview for sure

jack
Guest
jack

Awesome, hopefully you can make that happen!

And great work with your show, really enjoying and learning from your podcasts 🙂

Michael Michelini
Guest

Thanks Jack,

Really happy to hear you enjoy the podcast and are learning

It’s been now over 40 shows and still a bit quiet on the feedback side, my first podcast so still learning how to make it more interesting and interactive

I can give you a shout out on an upcoming show! 🙂

jack
Guest
jack

Yea, but I think that’s understandable for something that’s just getting going.. as Chinese speakers always say to me in regards to learning Chinese “慢慢來”. Besides, the most important thing is that you’ve got a lot of solid content! Thanks, that’d be awesome! I’d love a shout out – but maybe once I’ve actually got something to show or be recognized for! I’m just now in the midst of starting a HK based B2C printing business; sourcing manufacturers in the Dongguan, Shenzhen area, designing my website, etc. Initially I hope to sell my designs to the wedding industry. I currently… Read more »

Michael Michelini
Guest

Exciting to hear your new venture!

I do hop over to Hong Kong regularly, often to record for this show so keep me posted when you are there and we can get coffee

Once you get your business going I’d love to interview you and you can share with other listeners!!

jack
Guest
jack

thanks, Mike, that sounds great! I’ll keep you updated!

Michael Michelini
Guest

hey Jack, we finally got that Paymentwall interview up – not sure if you had a listen! https://www.globalfromasia.com/merchant-accounts-hard-hong-kong/

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[…] Episode begging stripe to come to Hong Kong […]

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[…] I could get PayPal Payments Pro in that country, but often that is not the case in many countries. Hong Kong still doesn’t have Stripe or many other options. I have many friends in Hong Kong who have opened US companies specifically […]

Nghia
Guest

Wonderful article. Very informative. Do you have any update on Stripe and HK ?
I have an e-commerce business based in HK and right now, most of my customers comes from Europe. I’m currently using Paypal, but their new policy forcing users to create an account is making me loose customers. I’m looking for a good processing CC service that is easy and multilangual. (We can use Paypal Pro in HK, but it’s only available in English or Chinese)

Michael Michelini
Guest

Hey Nghia,

I totally understand your frustration… We all are frustrated here and waiting for Stripe to come…

I did a podcast on paymentwall that is an option some are looking at here is the link to the show https://www.globalfromasia.com/merchant-accounts-hard-hong-kong/

Worldpay is the one I have heard from friends that gives you the true merchant account experience in Hong Kong but it has a rather higher setup cost, Marie shared on it here https://www.globalfromasia.com/worldpay-merchant-account-process/

Hope this helps… Hope it gets better for Hong Kong online businesses soon…

Jason
Guest
Jason

Hi, thanks for the post just curious if there is any payment gateway at all that can be used in HK which allows website to accept credit card payments on own website without jumping to another platform given that the website is not PCI complianced?(ie, with paypal you have to “check out with PayPal” and customer are redirected to paypal platform for payment details

Thanks

Michael Michelini
Guest

Hi Jason,

From my research so far there are two options:

1. Worldpay
2. Paymentwall (via iframe)

Let me know what you find.

I have also heard Stripe may be coming to Hong Kong soon… I will post as soon as I find that out

Cyril
Guest
Cyril

Hi Michael, you heard that from reliable source?

Michael Michelini
Guest

Hi Cyril –
you mean about Stripe coming to Hong Kong soon? It is a well connected friend who goes to SV often….but ….I wouldn’t base my business decisions based on waiting for it to happen….

Cyril
Guest
Cyril

Thanks, it’s still giving hope.

Bozo
Guest
Bozo

Hi Michael, great podcast. We at https://Pencepay.com started accepting Hong Kong companies directly a few months ago, through a relationship with couple of HK banks. Our service is quite modern, similar to Braintree/Stripe, so the RESTful API and all the rest. There is NO redirection to our domain to pay (although you can use our hosted payment page if you really want) but there is client-side encryption of card number and other sensitive data, so you are 100% free to change the design of the payment page – no Chinese characters on your payment page. The service can be used… Read more »

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[…] Has 2checkout been mentioned in Global From Asia? Yes, when we were discussing Stripe here – https://www.globalfromasia.com/stripe-hongkong/ […]

LAM
Guest
LAM

If your business only includes local transaction, PPS is a good approach as well. Otherwise, the only options are Paypal and Braintree which cost much. Interestingly, even Hong Kong is part of China, Chinese payment methods seem don’t welcome Hong Kong merchants , for example, Alipay requires ICP license but HK business is impossible to apply it.

Michael Michelini
Guest

Thanks for the comment Lam!

PPS, I have not heard of them before, seems they are part of EPS?

https://www.eps.com.hk/eng/company_pps.asp

And is a Form of Bill payment

I agree with you about Hong Kong being stuck between China and the West, and Hong Kong is supposed to be a financial capital of Asia so why are there these issues….

I will have future episodes about icp in China, but yes you are right need a mainland Chinese company or Chinese local identification card to get it.
But there is alipay for Hong Kong companies

Get updates on my newsletter

http://www.globalfromasia.com/subscribe

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[…] Popular podcast Stripe not in Hong Kong podcast […]

Vander Ng
Guest
Vander Ng

Hi Michael, have you interviewed Braintree? I know they have set up the team in Asia and accepting merchants in Hong Kong. I did apply it recently but my application is not handled in a professional way. They classify my business is high risk without telling me the reason, or suggesting me any arrangement that can lower the risk. My feeling is that they are not eager to do business here. Any findings from your side?

Michael Michelini
Guest

hi Vander,
Braintree I have had a ton of people emailing me and tweeting me as soon as they announced they were coming to Asia. I think Braintree is flooded with applicants and maybe a bit overwhelmed. I’m curious what your business is to be considered high risk? Maybe I can help – I do want to interview them – I hope to get them on soon

trackback

[…] Stripe Hong Kong episode (last time I did a solo show) […]

Manu Verma
Guest
Manu Verma

just wondering if there’s any new update about Stripe in Hong Kong, this is Oct 2015, and i am planning on moving there for good.

Michael Michelini
Guest

Hi Manu,
Thanks for checking in – I’m constantly getting people asking me – and was at the RISE conference where one of the founders of Stripe spoke – they said planning for end of this year – but as of now I have not heard anything, received no email, social media updates, or anything… let’s keep hoping…. but there are other alternatives too. Will you wait for Stripe how long?

Manu Verma
Guest
Manu Verma

Thanks Michael. I am currently in USA, and even when I move back to Hong Kong, I can keep using my US bank account for letting people deposit money and then transfer it to the local Hong Kong bank account if needed. But this is a pain! Plus, I will have to put prices in US dollars on my website even if I sell locally, which means that both me and the clients will need to convert in their head to see how many Hong Kong dollars it will be. This all could be rectified easily if Stripe just opened… Read more »

Michael Michelini
Guest

thanks for the additional insight on Stripe rollouts. When they’re in HK we can both join together for the Stripe dance, haahaha!

Thomas Hui
Guest
Thomas Hui

I hope they mean fiscal year.

Michael Michelini
Guest

man we are all begging for it, I know! …. !!

trackback

[…] regularly asked about Stripe coming in Hong Kong, and have been following closely – so let’s see what this […]

Chrisina
Guest
Chrisina

Hi Michael, Great Article, this has been such a BIG pain point for my website. It’s amazing that a place like hong kong is dealing with 20th century problems :)– So far I LOVE working with Braintree, they are great, the only problem is they are approved for Mastercard and Visa only, so if I want to accept Discover, Amex, or any other card type I have to apply for an SC # on my own. For over a month now I’ve been dealing with AMEX Merchant Services, they have been a nightmare – I really hope either Braintree or… Read more »

Michael Michelini
Guest

Hi Christina,
True, I just don’t expect many people to use Amex – so many clients ask you for it ? How does one get AMEX for Hong Kong anyway? Would love any insights 🙂

Christina
Guest
Christina

Actually I know many people who use amex especially if they have gold card or above because of the awesome point system. I applied through their online service http://www.americanexpress.com/hk/en/content/merchant/contact-us-and-faqs.html they took forever to respond, so I kept emailing and calling until I got a hold of one of the account managers. It’s been almost 2 months and they still haven’t approved me and they won’t tell me why. That’s the most frustrating part.

Michael Michelini
Guest

Hi Christina,

You’re probably dealing with them in email? Or do you get them on the phone? I’ll call them on Monday and see what’s up, maybe I’ll ring their doorbell haha

stay tuned… and have a great weekend
Mike

Christina
Guest
Christina

Phone call first, then email – Ironically I have a call scheduled on Monday at 10:30. I will have my local friend on the call to translate if need be. Haven’t rung their doorbell yet 🙂 ~ Let me know how it goes for you… Cheers

Michael Michelini
Guest

So I talked to a client services – seems she was nice enough, based in MY!

She couldn’t find my account in the system, but I think my braintree merchant account supports American Express? I emailed Braintree support to see

If you read the FAQ here – https://www.braintreepayments.com/faq you’ll see it says it supports AMEX

maybe try that?

Christina
Guest
Christina

It looks like that’s only for US.
What kinds of payments can I accept with Braintree?

Merchants in the US can use Braintree to accept PayPal, Apple Pay, Android Pay, Venmo, Bitcoin and most credit and debit cards, including Visa, MasterCard, American Express, Discover, JCB and Diner’s Club.

Matt
Guest
Matt

Hi Christina,
I am also curious about this. The FAQ says: “All merchants in Singapore, Hong Kong and Malaysia can accept PayPal and cards on the Visa and MasterCard networks as long as the cards are enabled for online use. Currently, American Express is only available for merchants located in Hong Kong.”

Michael Michelini
Guest

Hi Matt and Christina, Braintree Support got back to me – seems Amex works for Hong Kong – finally a +1 for HK business owners – here’s their email – same link as Christina shared, so still need AMEX account to be approved: ===== Hi Mike, I hope you are well! Your Global From Asia merchant account is definitely eligible to accept American Express. In order to accept AmEx, we will need for you to set up a Service Establishment Number (SE#) with AmEx for each presentment currency you would like to accept Amex with. They can be contacted at:… Read more »

Christina
Guest
Christina

Matt and Matt 🙂

During my call yesterday with Amex, they wouldn’t give me a reason for denial. Braintree was kind enough to dig deeper and found out that the reason they denied me was because my company fell into the probhibited list category. So Now I have to decide to keep working with Braintree (Which I love ) Or find a new gateway that already hasan established account with Amex. Have either of you used EZPay? They have a contact # for HK but it’s incorrect. If anyone has the right contact # for HK please share.

HONG KONG
800 933 873
[email protected]

Michael Michelini
Guest

Christina,

I’m Mike btw, hehe haha 🙂

How about Paypal Hosted Solutions in HK? Its linked in the article here – it keeps the checkout on your site

Or I have been told about https://eway.io/hk but don’t know anyone using it – they support Hong kong and worth a shot – with First Data

I also try to keep an up to date list on https://www.globalfromasia.com/merchant-account-comparison/

Christina
Guest
Christina

I have to look into paypal. I will check out eway – thank you

Matt
Guest
Matt

Hi Christina,
I checked with eway. They only support Visa and Master card for HK.

Christina
Guest
Christina

Yes I called them as well and got the same reply.

Michael Michelini
Guest

Here’s the latest wit AMEX HK lots and lots of manual back and forth with a person in their company – and CNY has made it slower – but finally – he came to VISIT MY OFFICE last week…. he was in a full suit and kinda felt my office was not so nice (just the vibe I got) He said they need audited financials, and etc etc and it would be HKD account at first. Can then go to USD but more strict and 200usd/year fee to keep it. Not sure if I really want to go through all… Read more »

Matt
Guest
Matt

Hi Mike,
Amex is only the fourth largest in the world by number of cards issued, but they are the largest in the world by purchase volume.

Michael Michelini
Guest

guess all the big spenders are on Amex, I’ll definitely try to get this approved and integrated w/ Braintree, awaiting Amex’s reply still.

Matt
Guest
Matt

Hey Mike, did you get Amex approved?

Michael Michelini
Guest

Hey Matt, So they replied to me about 10 days later and been some back and forth. These are the latest questions I replied to: How are you? Thank you very much for your information!!! May I know, (1) Is Shadstone Limited a registered company in HK? (2) May I know how long have Shadstone Limited been in the business? (3) You work in HK office? (4) You help your clients to get their HK Business Registration and to provide advices to them for setting up their business in HK? You also sell books to them? (5) Does your website… Read more »

Matt
Guest
Matt

Hi Mike, thanks for the update. Curious how it will work out.

trackback

[…] our blog ranks high in Google for Stripe in Hong Kong – we get tons of people reaching out to us asking when it will actually be here. They spoke […]

Siva Malhotra
Guest
Siva Malhotra

Stripe is now available in Hong Kong. https://stripe.com/hk/pricing

Thomas Hui
Guest
Thomas Hui

trying to apply a close beta. hope it work ok.

Michael Michelini
Guest

great, I’m in the beta too and it seems smooth!

Siva Malhotra
Guest
Siva Malhotra

got my first payout to the bank. Full amount and on time. Also they are trying to bring settlements in USD very soon and reduce the time from 7 days to 2. Can’t tell my source though. Its high time to leave braintree as STRIPE does allow AMEX charges as well.

Michael Michelini
Guest

Wow, this sounds like a dream come true! thanks for the update!

trackback

[…] in Hong Kong being able to receive American Express credit cards. From one of the hottest topics is Stripe coming to Hong Kong, and when? It has gotten quite a few comments and stays active with news and […]

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[…] Our Petition (begging) Stripe to Come to Hong Kong back in March 2014! […]

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[…] √ AureliayPay √ HKMA in Hong Kong √ SVF licensing regime in HK √ UK eMoney licensing √ Stripe HK √ Paypal HK √ KYC √ Sept 11, 2001 started the banking application challenges √ Xero √ Our […]