eftPay Entered in a MOU with AXS

HONG KONG SAR - Media OutReach Newswire - 11 November 2024 - eft Payments (Asia) Limited ("eftPay" or the "Company"), one of the leading e-Payment services providers in Hong Kong, is pleased to announce that the Company has entered into a memorandum of understanding (the"MOU") with AXS, an e-payment solutions provider in Singapore, to develop inter-connectivity between both existing gateways for seamless payment processing, supporting the duos operating markets across Asia Pacific.

With this MOU, both entities will partner in areas such as developing cross-border gateway connectivity for seamless bill payments solutions, and aggregations. This partnership intends to provide an efficient process for onboarding merchants and ensuring reasonable integrity and security of the shared network.

In addition, eftPay will enable alternative payment model (APM) and technology, supporting operating markets of AXS across Southeast Asia, while AXS will enable a bill payment aggregation model and technology, supporting operating markets of eftPay (Asia) across Hong Kong, Taiwan and Macau.

Mr. Andrew Lo Chun-kit, Chairman and CEO of eftPay, said, "We are thrilled to be the overseas partner of AXS. This collaboration marks a remarkable milestone in expanding our overseas footprint. We believe that it will facilitate the expansion of both parties into overseas markets, effectively addressing the operational challenges faced by a broader range of merchants and reinforcing our position at the forefront of the industry. Looking ahead, we will actively explore diverse projects to export unique solutions and services worldwide."

Mr. Jeffrey Goh, AXS Co-Founder and Group CEO added, "With this collaboration, AXS is continuing the extension of our bill payment platform outside of Singapore including inter-connectivity of our payment gateways. We are also excited to innovate with eftPay on payment technology and solutions across borders and leverage on our expertise in both markets." Mr. Goh hopes that this MOU signing is a start and the two companies will bring together more collaborations in both Hong Kong and Singapore.

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The issuer is solely responsible for the content of this announcement.