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HONG KONG, Jan. 9, 2025 /PRNewswire/ -- Recently, Hong Kong-listed Yeahka (09923.HK) has launched an acquiring system in partnership with global payments technology leader Mastercard and its joint venture in China, Mastercard NetsUnion. This marks another upgrade in Yeahka's international card organization partnership channels.
Earlier in March of this year, Yeahka officially became a member institution of Mastercard. The newly launched acquiring system now supports foreign card acceptance, further enhancing Yeahka's transaction capabilities in its payment business. This development provides merchants with more diverse and comprehensive payment services, while also making it more convenient for international consumers to make payments in China.
Moreover, Yeahka and Mastercard will collaborate to explore diversified value-added services, including but not limited to digital innovation and marketing solutions. They will also actively expand international market payment partnerships together.
This advancement lays a solid foundation for Yeahka's application to become a member of more international card organizations. Previously, Yeahka had also partnered with another international card organization, American Express, and in September 2021, they jointly launched the American Express RMB card acquiring business.
Yeahka has stated that it will continue to drive collaboration with card organizations, banks, and other institutions, offering high-quality services and continuous innovation to provide customers with efficient, convenient, and secure one-stop payment solutions. Beyond payments, the company is also committed to providing multi-layered smart service products, including merchant operation SaaS services and data-driven marketing solutions to merchants across various industries.
Notably, in recent years, Yeahka has been focusing on cross-border payments, expanding into new markets and seeking new growth opportunities. It has already acquired licenses such as the Hong Kong MSO, Singapore MPI, and U.S. MSB, and has established a preliminary, comprehensive cross-border payment service network. In 2023, the company officially launched its cross-border payment business brand, YeahPay. According to the latest financial report, Yeahka's cross-border payment business has seen rapid growth, with third-quarter GPV increasing by nearly 50% year-on-year in 2024.
