AbbyPay Launched by PCG and BBMSL to Improve Asia-Pacific Payment Systems

The Payment Cards Group Limited (PCG), a cloud-native payment processor and acquirer, has teamed up with Black Bear Merchant Services Limited to launch a new brand – AbbyPay.

Under the new strategic alliance, AbbyPay will use PCG’s position as an acquirer with major card schemes like Visa, MasterCard, AMEX, UnionPay and JCB.

The partnership will also leverage PCG’s cloud-based payment platform, A3A, to serve BBMSL’s customer base effectively. This collaboration aims to significantly expand PCG’s reach, targeting 50,000 local merchants across Hong Kong and other Asia Pacific regions, by offering payment technologies that meet diverse market demands.

The signing ceremony was attended by key figures including AbbyPay’s representative Barry Mak, PCG’s founder Peter Wu, BBMSL’s CEO Gerald Yu, CFO Ester Chow, and PCG’s co-founder and chief operating officer Beatrice Tai. 

The partnership

“This strategic alliance marks an important milestone for PCG in the field of payment solutions in the Asia-Pacific region,” says Tai, of PCG. “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.”

Yu of BBMSL, said: “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.”

Spotlight on AbbyPay

AbbyPay will offer Asia’s first cloud-based payment processing and settlement platform, A3A, across markets in Japan, Singapore, Malaysia, and Thailand. Through a single API, A3A offers direct end-to-end processing with major card schemes (such as Visa, MasterCard, AMEX, JCB, and UnionPay), e-wallet networks, and mobile payment platforms.

Comparing to traditional payment processing platforms, A3A boasts competitive advantages such as low integration fee, speedy and easy integration, instant settlement, and real-time transaction data insights.

Mak, representative of AbbyPay, said: “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.”

The post AbbyPay Launched by PCG and BBMSL to Improve Asia-Pacific Payment Systems appeared first on The Fintech Times.

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