12th November 2024, Kathmandu
eft Payments (Asia) Limited (“eftPay”), a leading e-payment service provider in Hong Kong, has signed a memorandum of understanding (MOU) with Singapore-based e-payment solutions provider AXS.
eftPay and AXS Sign MOU
This collaboration is set to revolutionize payment processing across the Asia Pacific region. By developing seamless interconnectivity between their existing gateways, eftPay, and AXS aim to simplify cross-border transactions, boost merchant onboarding efficiency, and ensure the integrity of their shared networks.
Key Objectives of the Partnership
The MOU outlines a strategic partnership focused on several major initiatives:
Cross-Border Gateway Connectivity: The collaboration will enable seamless bill payments across markets, enhancing convenience for consumers and businesses in the Asia Pacific region.
Merchant Onboarding and Security: Both companies will streamline the process of onboarding merchants, ensuring that the interconnected network maintains high standards of integrity and security.
Strengthening Regional Payment Solutions
The partnership will leverage each company’s strengths to drive innovation in the payment technology landscape:
eftPay’s Role: eftPay will enable alternative payment models (APMs) and technology, extending its support across AXS’s Southeast Asian markets. This move aligns with eftPay’s strategy to expand its reach and provide comprehensive e-payment services to a broader audience.
AXS’s Role: AXS will implement a bill payment aggregation model to support eftPay’s operating markets in Hong Kong, Taiwan, and Macau. This technology integration will enhance the payment ecosystem by facilitating cross-border transactions.
Leadership Insights and Future Goals
Andrew Lo Chun-kit, Chairman and CEO of eftPay, expressed excitement about this partnership: “We are thrilled to be the overseas partner of AXS. This collaboration marks a significant milestone in our expansion journey. By working together, we aim to address the operational challenges faced by a diverse range of merchants, solidifying our leadership in the e-payment industry. We look forward to exploring new projects to bring our innovative solutions to global markets.”
Jeffrey Goh, Co-Founder and Group CEO of AXS shared similar enthusiasm: “The MOU with eftPay signifies our continued efforts to extend our bill payment platform beyond Singapore. We are eager to innovate together on cross-border payment technology and leverage our combined expertise. This partnership has the potential to create more collaborations in both Hong Kong and Singapore.”
About eftPay
Founded over a decade ago, eft Payments (Asia) Limited is a premier e-payment services provider in Hong Kong. It offers merchants a comprehensive range of services, including account opening, point of sale (POS) integration, transaction processing, and payment settlement. The company serves various sectors, from jewelry chains and electronic appliance stores to theme parks and supermarkets. Learn more at www.eftpay.com.hk.
About AXS
Established in 2000, AXS Pte Ltd is a trusted e-payment provider in Singapore, offering over 800 payment services to more than one million users. The company operates a robust network of over 630 self-service AXS Station kiosks, alongside its web-based and mobile applications. AXS is renowned for its commitment to convenience and innovation in payment solutions.
Conclusion
The MOU between eftPay and AXS heralds a new era for payment processing in the Asia Pacific region. By harnessing the power of technology and strategic collaboration, the two companies are set to provide more efficient, secure, and seamless payment solutions. This partnership not only addresses the growing demand for cross-border transactions but also reinforces both companies’ commitment to staying at the forefront of the e-payment industry.
For more: eftPay and AXS Sign MOU