HONG KONG, Sept 19, 2024 – (ACN Newswire) – – DBS Financial institution (Hong Kong) Restricted (“DBS Hong Kong”) and The Fee Playing cards Group Restricted (“Yedpay”) right now introduced the launch of “DBS MAX Merchant Solutions”, a one-stop answer for managing gross sales operations, that includes a set of instruments that streamline cost collections and improve operational effectivity for retailers in Hong Kong. The cost assortment settlements proceed as shortly as 1 day after the transactions[2].
Latest analysis by DBS Hong Kong[1] highlighted that just about 70% of service provider respondents are presently utilising digital cost strategies, with 86% planning to undertake new digital cost strategies of their operation throughout the subsequent 12 months. Nevertheless, inaccurate monetary information attributable to reconciliation challenges (35%) and inefficient settlement time from their cost acquirers (31%) had been the primary challenges for companies.
The brand new “DBS MAX Merchant Solutions” tackle these ache factors by providing swift onboarding, the place enterprise accounts may be opened in as quick as 1 working day, and assortment settlements processed as shortly as 1 day after the transaction. The answer is appropriate with a variety of 21 cost choices, and supply a versatile integration with varied gross sales channels. By consolidating gross sales operation knowledge and checking account data right into a single platform, “DBS MAX Merchant Solutions” permit retailers enhancing effectivity, gaining data-driven insights, and advancing their digital transformation, whereas offering banking-level safety safeguards.
Boris Chan, Managing Director and Head of World Transaction Companies, DBS Financial institution Hong Kong, mentioned, “We are excited to partner with Yedpay to make business operations easier for merchants. This solution addresses two critical merchant pain points – reconciliation challenges and slow settlement time. By combining the strengths of DBS and Yedpay, ‘DBS MAX Merchant Solutions’ enable them to manage collections seamlessly, while expanding their range of digital payment options and providing a comprehensive support to the merchants.”
Beatrice Tai, Chief Operation Officer, Yedpay acknowledged: “Over the past few years, Yedpay has evolved from a payment service provider into an acquirer. We have developed a comprehensive understanding of the challenges, complexities, time constraints, and costs that merchants face in payment and settlement processes. We see tremendous opportunity to collaborate with DBS Hong Kong, combining our new cloud-based processing technology with DBS’ banking expertise to jointly develop solutions that streamline processes for merchants. By working hand-in-hand, we can deliver seamless settlement solutions that reduce friction and costs for merchants.”
As companies proceed to navigate the evolving panorama of digital funds, DBS Hong Kong stays devoted to offering tailor-made options that improve operational effectivity and assist sustainable progress.
[1] A current DBS Hong Kong survey in August titled “Merchant Collection Solutions and Challenges for Local Businesses” interviewed 200 representatives from Hong Kong to look at the cost panorama, ache factors and buyer expectations and the extent of satisfaction with present assortment options.
[2] Solely be relevant to offline transactions accomplished by Yedpay Moveable POS System and is topic to the precise circumstances of particular person retailers. “The Bank”) is the supplier for cost collections by way of Quicker Fee System (“FPS”) and different cost assortment strategies underneath DBS MAX Service provider Options are offered by The Fee Playing cards Group Restricted (“Yedpay”). The Financial institution just isn’t chargeable for the providers/merchandise offered by the third get together service supplier. For the complete disclaimer of the service, please go to: go.dbs.com/3RZKTaC
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About DBS
DBS is a number one monetary providers group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is within the three key Asian axes of progress: Larger China, Southeast Asia and South Asia. The financial institution’s “AA-” and “Aa1” credit score rankings are among the many highest on this planet.
Recognised for its international management, DBS has been named “World’s Best Bank” by World Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The financial institution is on the forefront of leveraging digital expertise to form the way forward for banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. As well as, DBS has been accorded the “Most secure Financial institution in Asia’ award by World Finance for 15 consecutive years from 2009 to 2023.
DBS supplies a full vary of providers in shopper, SME and company banking. As a financial institution born and bred in Asia, DBS understands the intricacies of doing enterprise within the area’s most dynamic markets. DBS is dedicated to constructing lasting relationships with prospects, because it banks the Asian manner. Via the DBS Basis, the financial institution creates influence past banking by supporting social enterprises: companies with a double bottom-line of revenue and social and/or environmental influence. DBS Basis additionally offers again to society in varied methods, together with equipping communities with future-ready expertise and constructing meals resilience.
With its intensive community of operations in Asia and emphasis on partaking and empowering its workers, DBS presents thrilling profession alternatives. For extra data, please go to www.dbs.com.
About Yedpay
Yedpay, a model underneath The Fee Playing cards Group (PCG), has firmly established itself as a number one cost acceptance enterprise in Hong Kong. The top-to-end cost infrastructure complies with ISO 27001, PCI DSS, and PCI CPoC requirements within the cloud surroundings. Moreover, the cost software is licensed with EMV Stage 2 and Stage 3.
Yedpay’s mission is to attach the disconnected. By leveraging PCG’s proprietary buying processor answer to streamline end-to-end cost processes, Yedpay is devoted to unlocking the potential of cost knowledge throughout your complete cost acceptance business whereas sustaining the best requirements of safety. For extra data, please go to the Yedpay web site: https://www.yedpay.com/zh/
For additional data, please contact:
DBS Hong Kong
Celia Wan
Senior Vice President
Media Relations
Group Strategic Advertising and marketing & Communications
E mail: celiawan@dbs.com
Tel: (852) 3668 6116
Gigi Lai
Supervisor
Media Relations
Group Strategic Advertising and marketing & Communications
E mail: gigilai@dbs.com
Tel: (852) 6840 2142
For enquiries about Yedpay, please contact
AJA (IR and Communications)
Avy Yu
E mail: avy.yu@ajacapital.com.hk
Tel: (852) 9500 4443
Eudice Regulation
E mail: eudice.regulation@ajacapital.com.hk
Tel: (852) 9326 1113
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