【True Vision Finance】BBMSL and Yedpay HK jointly launch "AbbyPay", empowering merchants and opening a new chapter in Asia-Pacific payments
True Burn Financial News December 11, 2024 - Financial cloud payment processing and acquiring institution The Payment Cards Group Limited and Black Bear Merchant Services Limited are pleased to announce the signing of a new strategic alliance, establishing a new brand and group holding company ABBY Pay&Tech Holdings Limited, which will fully own BBMSL and Yedpay HK. AbbyPay will leverage PCG's direct acquiring status with Visa, Mastercard, American Express, UnionPay, and JCB, combined with Asia's first financial cloud electronic payment processing and settlement platform A3A and BBMSL's strong customer base, to enhance electronic payment collection services for merchants in Hong Kong and other regions. This strategic alliance not only increases market share, covering up to 50,000 local merchants with multiple brands to meet diverse market demands, but also accelerates the empowerment of local merchants through payment technology, integrating the local payment industry.
From left to right: AbbyPay representative Mr. Barry Mak, founder of The Payment Cards Group Limited Mr. Hu Jingbo, CEO of BBMSL Mr. Gerald Yu, CFO of BBMSL Ms. Zhou Aishi, and co-founder and COO of The Payment Cards Group Limited Ms. Beatrice Tai jointly presided over the signing ceremony.
PCG co-founder and COO Beatrice Tai said: "This collaboration marks an important step for PCG in the payment solutions sector in the Asia-Pacific region. Leveraging the technological advantages of our A3A platform and BBMSL's market influence, AbbyPay will provide innovative, seamless payment and settlement solutions for micro-merchants, SMEs, and large merchants, rapidly and efficiently expanding into new markets across multiple industries in the Asia-Pacific region. We look forward to AbbyPay continuing to expand its business footprint, further integrating the local payment industry, and strengthening PCG's market position in the payment sector."
BBMSL CEO Gerald Yu said: "This move fully represents PCG's high recognition of BBMSL's years of dedication and achievements in the Hong Kong local market, as well as the potential and confidence in our joint efforts. Since 2017, BBMSL has held a significant market share in Hong Kong's SME merchant market and has gained widespread recognition and support in Hong Kong. These advantages will lay a solid foundation for AbbyPay's development. I look forward to working with AbbyPay in the future to fulfill BBMSL's mission, grow alongside SMEs, and wish this collaboration even greater achievements."
Introducing Asia's first financial cloud electronic payment processing and settlement platform A3A in the Asia-Pacific region, unleashing the potential of electronic payments
AbbyPay will provide Asia's first financial cloud electronic payment processing and settlement platform A3A in markets such as Japan, Singapore, Malaysia, and Thailand in the Asia-Pacific region. Through a single API, it will offer direct endpoint processing for major card issuers (such as VISA, MasterCard, American Express, JCB, and UnionPay), e-wallet networks, and mobile payment platforms. Compared to traditional payment processing platforms, A3A offers competitive advantages such as low integration costs, quick and simple integration, instant settlement, and real-time transaction data insights.
AbbyPay representative Mr. Barry Mak shares AbbyPay's vision.
AbbyPay representative Barry Mak said: "We have now entered a new era of payments. AbbyPay is groundbreaking in Hong Kong's payment industry and will disrupt the entire sector, bringing unprecedented opportunities. PCG has strong technological capabilities, while BBMSL has a deep customer base and market recognition in the local market. I firmly believe that AbbyPay has unlimited potential in Hong Kong and the Asia-Pacific region, leading future payment trends and accommodating all types of merchants, from large chain restaurants to SMEs, creating value and leading the industry."
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
