PayMe Lowers User Age Requirement to New Minimum of 12 Years Old

HSBC's electronic wallet, PayMe, recently announced that they’ve lowered the age threshold for users from 16 to 12 years old.

The update is a move to enable parents to start educating their teens on financial literacy and management from a younger age, while also making it easier to keep track of their digital spending.

With the lowered age threshold, parents can now virtually send allowances to their children anytime and anywhere, and monitor their children's spending through transaction and transfer history. For teenagers, this means they can use their own PayMe account to directly top up and transfer money, helping them establish responsible financial habits.

PayMe has seen a successful trajectory of adoption since its launch in 2019. According to HSBC, the e-wallet app had reached a milestone of two million users within its first year of operation.

Popular in-person and online business merchants that accept PayMe in Hong Kong include McDonald's, 7-Eleven, KFC, Klook, Mannings, MUJI, Sasa, Starbucks, and UNIQLO.

Additionally, PayMe is offering a promotion until May. 15, where new users aged 12 to 18 years old, or 35 and above, can receive a Circle K discount voucher or store discount voucher respectively.

For more information, visit PayMe’s official site here.