Hong Kong – Payment Cards Group, a cloud-native payment processor and acquirer, has recently unveiled a strategic alliance with payment solutions provider Black Bear Merchant Services. This collaboration is designed to establish a new brand and group holding company titled ABBY Pay&Tech Holdings Limited.
As part of the initiative, AbbyPay is set to employ PCG’s leading position in the market as an acquirer with principal memberships in all major card networks such as Visa, MasterCard, AMEX, UnionPay, and JCB.
Said alliance will further capitalise on PCG’s advanced digital payment technology, particularly A3A, Asia’s first cloud-based payment processing and settlement platform, to serve BBMSL’s robust customer base.
It also aims to accelerate PCG’s expansion in market share by covering 50,000 local merchants in Hong Kong and other Asia Pacific regions with multiple brands to meet diverse market demands and empower local merchants through innovative payment technology.
Moreover, AbbyPay will introduce A3A, a cloud-based payment processing and settlement platform, to markets in Japan, Singapore, Malaysia, and Thailand. A single API will enable A3A to provide seamless end-to-end processing with major card networks like Visa, MasterCard, AMEX, JCB, and UnionPay, as well as e-wallets and mobile payment platforms.
When compared to traditional payment processing platforms, A3A brings competitive advantages including low integration fee, speedy and easy integration, instant settlement, and real-time transaction data insights.
Beatrice Tai, co-founder and chief operating officer at PCG, said, “This strategic alliance marks an important milestone for PCG in the field of payment solutions in the Asia-Pacific region. With the technological advantages of our A3A platform, combined with BBMSL’s stong market coverage, AbbyPay will provide innovative, seamless payment and settlement solutions for micro merchants, SMEs, and enterprises, rapidly and efficiently tapping into new markets across various industries in the Asia-Pacific region.
“We look forward to AbbyPay expanding its business footprint and further consolidating the local payment industry, strengthening PCG’s leading market position in the payment sector,” added Tai.
Gerald Yu, Chief Executive Officer of BBMSL, also commented, “This strategic alliance represents PCG’s high recognition of BBMSL’s years of effort and achievements in the Hong Kong market, reflecting our potential and confidence in working together.”
“Since 2017, BBMSL has held a significant market share in the local 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 to fulfill BBMSL’s mission, grow alongside SMEs, and hope this partnership creates even greater achievements,” Yu further shared.
Meanwhile, Barry Mak, representative of AbbyPay, remarked, “We have entered a new era of payment in the Asia Pacific market. 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 solid 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 while serving and creating value for all types of merchants, from large chain restaurants to SMEs and micro merchants,” concluded Mak.
