Behind every successful online store is the substantial support from customers. To make customers willing to shop, providing enough payment methods is one of the ways.
In the latest research study from Baymard Institute, which is a User Experience (UX) Research Institute, with over 4 thousand American Adults’ responses collected, it is found that 7% of respondents had abandoned orders during checkout in the past 3 months, simply because merchants failed to provide sufficient payment methods.
In other words, if merchants can grasp the consumption habits of their target customers, hence providing sufficient payment methods for their needs, it is believed that the shopping cart abandonment rate will be lowered.
In order to provide more payment solutions and thus boost sales, Boutir is now collaborating with YedPay, a Hong Kong All-in-one Payment Platform for Merchants. After merchants have set up a YedPay account and connected the service, they can use Visa, Mastercard, BoC Pay, UnionPay, Alipay and WeChat Pay, six payment transfer tools. Plus, the handling fee is only 1.9% at the least! In addition, YedPay charges no extra cost for every successful transaction – how convenient and affordable it is!
Contents
- What are the Benefits of using YedPay?
- What do we need to Prepare before using YedPay?
- How to Register your YedPay account and Activate the service?
- How can customers use the Payment methods provided by YedPay?
- Other FAQ
What are the Benefits of using YedPay?
You need only ONE account to manage various payment gateways. Also, YedPay does not charge any extra cost for each successful transaction. The details of the handling fee are as follows:
| UnionPay, BoC Pay | 2.8% of the amount of every successful transaction |
| Alipay/AlipayHK | 1.9% of the amount of every successful transaction |
| WeChat Pay | 1.9% of the amount of every successful transaction |
| VISA/Mastercard | 2.9% of the amount of every successful local transaction 3.5% of the amount of every successful cross-border transaction |
What do we need to Prepare before using YedPay?
Merchants need to own the following documents:
- Valid Certificate of Business Registration (BR), attached with payment record
- Bank records (Bank statement / ATM card / Cheque / Passbook) of the recent three months, including the Holder name of your personal account, Bank number, Branch number and Account number
- Hong Kong Identity Card
Besides the above documents, merchants need to sign two other documents with YedPay separately (YedPay will follow up with merchants for more details).
How to Register your YedPay account and Activate the service?
Please read the following tutorial:
How can customers use the Payment methods provided by YedPay?
Please read the following tutorial:
Other FAQ:
- Can I use YedPay outside Hong Kong?
The currency used for settlement between YedPay and merchants is only available in Hong Kong dollars and Hong Kong banks.
- Is there any charge in the refund process?
No. If the merchant gives out a full refund, the customer will receive the full amount of money they have paid. YedPay will also refund the handling fee charged during the original transaction process to the merchant. The refund period is 90 days.
- Where can I request a refund?
You can request a refund on YedPay Merchant Page: https://merchant.yedpay.com/
- Where can I find help?
Call YedPay Customer Service Hotline: +852 2905 2568, or send an email to cs@yedpay.com
- How does the payment settlement work?
YedPay will contact qualified merchants after they have registered a YedPay account and collect required bank information from merchants. For settlement and cash withdrawal, the transaction amount settled yesterday will be transferred to the merchant’s bank account automatically in two working days.
About YedPay
The Payment Cards Group Limited (YedPay) was established in Hong Kong on 12th December 2014. YedPay has received Level 1 Qualification of Payment Card Industry Data Security Standard (PCI DSS). Their services include developing and operating the front-and-back-end of Mobile Payment Platform, as well as mobile apps, and more.
YedPay is the designated service provider of Alipay HK, providing Alipay payment service for offline stores. Besides, YedPay also provides online payment solutions of Visa, MasterCard, UnionPay to customers, with Hong Kong dollars or RMB as settlement currencies – YedPay provides safe and convenient electronic payment services.
Official Website: http://www.yedpay.com/
Customer Service Email: cs@yedpay.com
Enquiry Hotline: +852 3905 2568 (Office) / +852 5977 0850 (WhatsApp)
Registration Hotline: +852 5684 9362 (WhatsApp)
Should you have any enquiries, please contact Boutir’s Customer Success Team through m.me/boutir.hk.
(The above information is for reference only. The latest official announcement shall prevail*)
We understand that everyone comes across difficulties when operating an online store. And you need professional assistance from us. Therefore we have prepared for you the following:
- Online Store Set Up Workshop
We empower you to open an exclusive online store, and to be outstanding even under the fierce competitions in the retail market. Build your own online store, and join our 2-hour hands-on workshop now: boutir.com/seminar
- 1-on-1 Online Store Set Up Consultation
Not only does our Professional E-commerce Team deal with a variety of problems regarding online store set-up, but we also provide consultations. We’d first get to know your business strategies in great depth, then give advice correspondingly.
Join now: https://www.boutir.com/consultation
Boutir Official Website: www.boutir.com
Contact Boutir Customer Success Team: m.me/boutir.hk