Payment Asia to Support Digital Transformation in Hong Kong's F&B Industry

HONG KONG, Oct. 3, 2024 /PRNewswire/ -- Payment Asia is excited to announce a new initiative to empower small and medium-sized enterprises (SMEs) in Food and Beverage (F&B) sector and help them expand their businesses. In the exclusive collaboration with PAO Bank Limited (PAObank), the first virtual bank in Hong Kong specializing in SME banking services, Payment Asia aims to help local restaurants and food businesses enhance cash flow and expedite digital transformation, enabling them to capitalize on emerging opportunities in the rapidly evolving market.

Payment Asia offers a comprehensive range of electronic payment solutions for SME enterprises. Through one of its business units, PA Financial, which operates as a licensed financial service provider in Hong Kong, the company facilitates the seamless integration of loan applications with comprehensive digital marketing services, creating a convenient one-stop channel for SMEs looking to expand their businesses and improve liquidity.

As one of the leading virtual banks focused on SMEs in Hong Kong, PAObank offers a range of convenient and cost-effective digital financial solutions designed specifically for SMEs, supporting them in seizing market opportunities.

"We are proud to partner with PAObank to support the F&B industry in Hong Kong," said Paul Tang, COO at Payment Asia. "This collaboration represents our commitment to empowering local businesses through innovative financial solutions and helping them thrive in a digital-first environment."

Hannah Hui, Deputy Chief Executive at PAObank, stated, "PAObank is fully committed to supporting the business needs of SMEs, and our partnership with Payment Asia enables us to build stronger connections with SMEs in the F&B sector. Leveraging PAObank's fintech capabilities, we aim to bridge the gap between traditional financing and restaurant owners' capital needs, providing them with the sufficient cash reserves they need in an increasingly competitive marketplace."

In support of this initiative, Payment Asia and PAO Bank will host a free seminar next week to share the latest digital marketing strategies and F&B business trends. This event serves as an excellent opportunity for local F&B entrepreneurs to gain valuable insights and guidance tailored to their specific needs.

Seminar theme: Seizing the Opportunity-The Path to Digital Transformation in the F&B Industry
Date: October 10, 2024
Time: 15:00
Venue: 17F, Upper Living, 165 Hoi Bun Road, Kwun Tong, Hong Kong
Contact: [email protected]

About Payment Asia
Established in 1999, Payment Asia has been committed to providing innovative online payment technology, and electronic payment solutions for SME enterprises and even multinational companies in Asia. Payment Asia prepares simple and time-saving online payment systems for customers, covering credit cards, debit cards, e-wallets, and tailor-made omnichannel payment solutions including digital asset gateway for enterprises. In the past 10 years, we have actively innovated and added elements such as digital marketing, e-commerce solutions, and AI consulting to our business to meet the needs of merchants. Payment Asia has developed rapidly and has served more than 12,000 local and overseas merchants.

About PAO Bank Limited
PAO Bank Limited ("PAObank"), a wholly-owned subsidiary of Lufax Holding Ltd ("Lufax") (SEHK: 6623; NYSE: LU) and a member of Ping An Insurance (Group) Company of China, Ltd. ("Ping An") (SEHK: 2318; SSE: 601318), is committed to fostering financial inclusion and establishing a virtual banking ecosystem by leveraging its extensive experience in SME banking services and its leading financial technology advantages. PAObank was granted a banking licence by the Hong Kong Monetary Authority in May 2019 to offer banking services via digital channels. PAObank is expanding diverse business segments including retail banking and SME banking.