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Yeahka (9923.HK) Steadily Advances International Strategy and Continuously Expands International Brand Clients
HONG KONG, Jan. 6, 2025 /PRNewswire/ -- Recently, Yeahka (9923.HK) has successfully expanded into new overseas markets, making breakthrough progress in its cooperation with international card organizations and in the expansion of vertical industry clients.
In terms of card organizations, Yeahka's payment brand officially joined UnionPay International as a member in October 2024 and has started technical integration. Before this, Yeahka had already accessed Visa and Mastercard payment channels. As for clients, compared to the domestic market, Yeahka has broken through industry limitations, expanding into new industries such as automotive and watches and attracting new internationally renowned brand clients.
Currently, Yeahka has obtained licenses such as Hong Kong MSO, Singapore MPI, and US MSB, and has built an intelligent risk control system to reduce transaction funds and regulatory risks. In 2023, Yeahka officially launched its cross-border payment service brand, YeahPay, and its cross-border payment service network continues to improve.
In the first three quarters of 2024, Yeahka's overseas business maintained rapid growth, with GPV in the third quarter increasing by nearly 50% year-over-year. The company also continued to attract international brand clients such as Bulgari, Chow Tai Fook Jewelry, Rolex, MCM, and Mei Zhen Xiang. This impressive performance can be attributed to three key factors:
In terms of products, to meet the needs of clients in different regions, Yeahka has continuously improved its product portfolio, offering services such as local e-wallets, overseas e-wallets, credit cards, merchant acquiring, foreign exchange, and cross-border remittance.
In terms of market strategy, Yeahka actively expands customer acquisition channels, such as promoting partnerships with chain stores, large shopping malls, and food courts to enhance the efficiency of payment transactions.
In terms of business synergy, the internal synergy effect has been continuously strengthened, including multiple payment channels, efficient service delivery capabilities, and cross-synergy among overseas investment companies, which can effectively help the company acquire new customers with high stickiness.
For Yeahka, the cross-border expansion of its payment business is not only about seeking new business growth but also represents the internationalization of the entire group. That is, by replicating domestic payment channels, big data algorithms, and over a decade of experience working with numerous merchants, Yeahka aims to provide more extensive business empowerment solutions to overseas merchants.
In the third quarter of 2024, Yeahka expanded its service scope through its subsidiary Fushi Technology and jointly promoted digital merchant solutions. Currently, its clients include over 200 global and regional brands, such as Starbucks, Muji, Pizza Hut, New Balance, Levi's, KOI, and Mr. Coconut, covering Southeast Asian regions such as Singapore, Indonesia, Vietnam, and Malaysia, with more than 20,000 stores.
