DBS Hong Kong and KPay propel Hong Kong’s digital economy with enhanced DBS MAX merchant solutions for SMEs | 繁體
With over 96% of Hong Kong merchants using digital payments
This ecosystem empowers SMEs with as fast as same-day settlement, diverse payment options, and exclusive transaction rebates for greater efficiency
Jolynn Wong, Managing Director and Head of Global Transaction Services, DBS Hong Kong (left), alongside Davis Chan, Co-founder and Chief Executive Officer of KPay (right), marking their pioneering partnership to drive digital payment transformation in Hong Kong.
A recent survey conducted by DBS Hong Kong shows that Hong Kong[2] SMEs are rapidly accelerating their digital transformation, a significant jump from 70% in 2024, to nearly all merchant respondents now utilising digital collection methods (96%). Despite this shift, operational complexity remains a significant challenge for SMEs as 95% of respondents are using more than one payment service provider. The top pain points cited include complex reconciliation (41%), high transaction and operational fees (26%), and lengthy settlement processing times (25%). SMEs are increasingly seeking payment partners that support a wide variety of payment collection methods and offer value-added services beyond mere transaction processing. It is worth noting that cash flow is critical to most SMEs, with 83% of the respondents willing to pay more for T+0 instant settlement capabilities.
The enhanced DBS MAX Merchant Solutions, in partnership with KPay, directly tackles these challenges by offering a “more-than-payment” merchant ecosystem for SMEs that simplifies collection management. KPay brings in extra value by offering access to the KConnect SaaS marketplace, featuring a range of services including integrated Point of Sale (POS) systems, Customer Relationship Management (CRM) tools, and other value-added services. The enhancements also accompany faster-than-ever flexible merchant settlement, which include as fast as same working day settlement after the transactions[1] and flexible same day withdrawal with no frequency limits or fixed times[3]. Furthermore, DBS MAX now supports 29 online and offline collection methods, including other major mobile wallets in Hong Kong, making it one of the most compatible and widely accepted payment and settlement methods in the market.
“The enhancement of DBS MAX Merchant Solutions marks a major milestone in our partnership with KPay, tackling key pain points for Hong Kong’s SMEs. With more merchants adopting digital payments, we are building a smarter solution that leverages DBS’ advanced digital capabilities and KPay's extensive merchant network. The enhanced platform is designed to empower businesses to adapt, scale, and thrive within a fast-evolving digital economy,” said Jolynn Wong, Managing Director and Head of Global Transaction Services, DBS Hong Kong.
“Looking ahead, our platform will pave the way for instant payment settlement and programmable money features—empowering businesses to automate workflows and enhance cash flow as new opportunities emerge. These innovations, together with our ongoing commitment to digital transformation, further strengthen DBS’s position as Hong Kong’s transaction bank of choice.”
Davis Chan, Co-founder and Chief Executive Officer of KPay, added, “KPay has always been committed to simplifying business processes for merchants. Our latest partnership with DBS Hong Kong enables us to leverage DBS MAX's trusted banking platform to deliver an unparalleled integrated experience, offering broad payment acceptance and highly flexible settlement options. Our comprehensive KConnect marketplace empowers merchants to manage, operate and strategise with our 150+ SaaS partners, creating a powerful ecosystem. KPay is also proactively exploring the technologies and opportunities of programmable money, with a long-term goal of advancing transaction and payment applications, ensuring our partners and merchants stay ahead of the curve. We are excited to join forces with DBS Hong Kong to support SMEs in their digital transformation journeys, enabling them to achieve greater efficiencies and seize sustainable growth opportunities.”
To further support SMEs, the DBS MAX offers up to HK$16,888 in joint rewards, including but not limited to waiving account opening and service fees[4], monthly complimentary FPS transactions[5] for opening a DBS Business Account by 31 December 2025. KPay complements this with 100% transaction fee rebates for eligible merchant, and daily settlement fee waivers[3]. For terms and conditions for above offer details, please visit: https://go.dbs.com/DBS-MAX_KPay
Building on their successful partnership in enhancing SMEs’ operational experience, DBS Hong Kong and KPay are committed to further strengthening their collaboration in the field of “future currency” through the signing of a Memorandum of Understanding (MOU) in November 2025. This expanded collaboration between DBS Hong Kong and KPay will explore programmable money applications, “future currency” technologies and delve into the feasibility of DBS GlobeSend, a new cross-border remittance service currently piloting by DBS Hong Kong, with the aim of optimising merchants’ payment experience. By seamlessly integrating KPay’s cutting-edge payment solutions with DBS’ tailored banking expertise, the two parties will continue their joint efforts to enhance operational efficiency, foster sustainable growth, and transform the digital payments landscape in Hong Kong.
[1]Fees and conditions apply and are subject to the actual cases of individual merchants. For more details, please consult the service provider KPay Group (“KPay”). DBS Bank (Hong Kong) Limited (“The Bank”) is the provider for payment collections via Faster Payment System (“FPS”) while the other payment collection methods under DBS MAX Merchant Solutions are provided by KPay. The Bank is not liable for the services/products provided by the third-party service provider. For the full disclaimer of the service, please visit: https://go.dbs.com/3RZKTaC
[2] A recent DBS Hong Kong survey conducted in July interviewed 100 representatives in Hong Kong to examine the payment landscape, identify pain points and understand expectations for collection solutions.
[3]Subject to the terms and conditions of KPay.
[4] Terms and conditions of “DBS and KPay Business Account Opening Joint Promotion” apply.
[5] Terms and conditions of “Monthly fee rebate on first 50 real-time Hong Kong Dollar FPS transactions” apply.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 17 consecutive years from 2009 to 2025.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About KPay Group
KPay Group (“KPay”) is a leading fintech company committed to empowering businesses of all sizes through simple, smart, seamless, and secure technology solutions. Serving more than 72,000 merchants across Australia, Hong Kong, Japan, and Singapore, KPay helps unlock growth potential by building a one-stop platform for financial management, business operations, and digital transformation. In 2024, KPay raised a record-breaking USD 55 million in its Series A funding round—the largest globally in the payments sector that year. The company has since been recognized as PayTech of the Year at the Asia FinTech Awards, selected on Forbes Asia’s 100 to Watch list in 2025 and ranked among the Singapore's Top FinTech Companies 2026 list curated by Tech in Asia and Statista.