The Payment Cards Group Limited (“PCG”), a cloud-native payment processor and acquirer, and Black Bear Merchant Services Limited (the holding company of BBMSL Limited “BBMSL”) are pleased to announce the signing of a strategic alliance to establish a new brand and group holding company, ABBY Pay&Tech Holdings Limited ("AbbyPay").
The Payment Cards Group Limited and Black Bear Merchant Services Limited Join Forces to Launch a New Brand 'AbbyPay'
- Empowering Local Merchants with Payment Technology
- to Create a Combined Leader in the Asia-Pacific Payment Market
Under this new strategic alliance, AbbyPay will leverage PCG's market leading position as an acquirer with principal memberships in all major card schemes including Visa, MasterCard, AMEX, UnionPay, and JCB. The combined group will also leverage strong digital payment technology capabilities from PCG’s A3A, Asia’s first cloud-based payment processing and settlement platform, in servicing BBMSL's strong customer base. This strategic alliance will accelerate PCG’s expansion in market share by covering 50,000 local merchants in Hong Kong and other Asia Pacific regions with multiple brands to meet diverse market demands and empower local merchants through innovative payment technology.
Beatrice Tai, Co-Founder and Chief Operating Officer of PCG, said, "This strategic alliance marks an important milestone for PCG in the field of payment solutions in the Asia-Pacific region. With the technological advantages of our A3A platform, combined with BBMSL's stong market coverage, AbbyPay will provide innovative, seamless payment and settlement solutions for micro merchants, SMEs, and enterprises, rapidly and efficiently tapping into new markets across various industries in the Asia-Pacific region. We look forward to AbbyPay expanding its business footprint and further consolidating the local payment industry, strengthening PCG's leading market position in the payment sector.”
Gerald Yu, Chief Executive Officer of BBMSL, said, "This strategic alliance represents PCG's high recognition of BBMSL's years of effort and achievements in the Hong Kong market, reflecting our potential and confidence in working together. Since 2017, BBMSL has held a significant market share in the local SME merchant market and has gained widespread recognition and support in Hong Kong. These advantages will lay a solid foundation for AbbyPay’s development. I look forward to working with AbbyPay to fulfill BBMSL's mission, grow alongside SMEs, and hope this partnership creates even greater achievements."
AbbyPay will offer Asia's first cloud-based payment processing and settlement platform, A3A, across markets in Japan, Singapore, Malaysia, and Thailand. Through a single API, A3A offers direct end-to-end processing with major card schemes (such as Visa, MasterCard, AMEX, JCB, and UnionPay), e-wallet networks, and mobile payment platforms. Comparing to traditional payment processing platforms, A3A boasts competitive advantages such as low integration fee, speedy and easy integration, instant settlement, and real-time transaction data insights.
Barry Mak, representative of AbbyPay, said, "We have entered a new era of payment in the Asia Pacific market. AbbyPay is groundbreaking in Hong Kong's payment industry and will disrupt the entire sector, bringing unprecedented opportunities. PCG has strong technological capabilities, while BBMSL has a solid customer base and market recognition in the local market. I firmly believe that AbbyPay has unlimited potential in Hong Kong and the Asia-Pacific region, leading future payment trends while serving and creating value for all types of merchants, from large chain restaurants to SMEs and micro merchants."