Category: Cards/Payments

Esewa Money Transfer Partners With Saudi Arabia-Based Enjaz Payment Services Company to Facilitate Remittance Services for Nepalese Migrants and Their Families

Esewa Money Transfer and Enjaz Payment Services Join Hands: Seamless Remittance Services for Nepalese Migrants in Saudi Arabia

Esewa Money Transfer, the fastest growing digital-first remittance company under F1Soft Group, which brings inward remittance in Nepal from 200+ countries globally, has entered into an agreement with Enjaz Payment Services Company, a leading financial company in Saudi Arabia.

With this agreement, Nepalese in Saudi Arabia can remit through 150 Enjaz branches or the app to beneficiaries in Nepal via 13,800+ remit agents, 100,000+ Esewa Money Transfer locations, banks, and institutions. This agreement gives Enjaz access to 7.5 million+ Esewa wallet users for direct remittance loading.

Amid the signing ceremony, the CEO of Enjaz, Mr. Khalid Al Zain, stated, “We understand that Esewa Money Transfer is not just a standalone remittance company but a part of F1Soft Group that has institutionalized the digital payments ecosystem in Nepal through various groundbreaking fintech initiatives. Being a Payment company having a deep-rooted belief in innovation and service excellence, we look forward to working closely with Esewa Money Transfer to provide transformative remittance services to the Nepali migrant population in Saudi Arabia and their families back home in Nepal.”

F1Soft Group’s Global Group President, Mr. Biswas Dhakal, stated, “We are extremely delighted to be associated with such a prestigious institution like Enjaz and see tremendous growth opportunities in our mission to support a significant number of Nepalese working in Saudi Arabia. We will leverage Enjaz’s extensive network on physical as well as digital channels.”

Director of Group Strategy Mr. Daniel D Shrestha and CEO of Esewa Money Transfer Mr. Ajesh Koirala attended the special signing ceremony organized at Enjaz’s head office in Riyadh, involving senior officials of both organizations.

About Enjaz Payment Services Company:
Enjaz Payment Services Company, a leading Fintech company licensed by the Saudi Central Bank provides financial services via the most advanced Fintech methodology in the market. With a brilliant idea, we built our brand, and with superb service, we built our reputation. Enjaz offers a full suite of diversified and innovative financial solutions in the Area of digital and physical channel payments. We are one of few players in the GCC to develop its proprietary best-in-class money remittance platform “Enjaz Easy”. Through our partnerships with leading international financial institutions and global money transfer operators (MTOs), our services enable customers to send money to 200+ countries.

About Esewa Money Transfer:
Esewa Money Transfer, Nepal’s top fintech conglomerate, offers swift cross-border remittances. Backed by 7.5 million+ Esewa mobile wallet users, it boasts 13,800+ remit agents, 100,000+ cash pick-up sites, banks, and more. Incorporated in 2019, licensed by Nepal Rastra Bank under foreign exchange regulation, Esewa Money Transfer is part of F1Soft Group, empowering 20 million+ people, 1.2 million+ entities with fintech-based payment services.

Contact Information
Shreeya Neupane
Marketing & Communication Executive
shreeya.neupane@f1soft.com
+9779801879283

PayBills.Africa Goes Live, Connecting African Merchants to the World

Today, at the margins of the U.S. Africa Financial Inclusion Conference sponsored by the U.S. Trade and Development Agency (USTDA), Brij Technologies, Inc. unveiled Paybills.Africa. The platform seamlessly connects Africa’s merchants globally, allowing customers to settle bills from anywhere in the world with one-touch ease on its web or mobile app and with bank-grade security. PayBills.Africa allows payers to settle their bills directly with merchants.

Brij Technologies CEO Nicholas Koros (Right) and Digital Credit Management Country Manager Nicolas Saint Remy

“Whether paying bills or requesting payments, everything is settled in your localized African currency,” said Nicholas Koros, CEO of Brij Technologies, a U.S.-based company with an operational headquarters in Nairobi. “We achieve this via our proprietary technology that enables real-time local currency settlement.”

It is worth noting that Flutterwave, a U.S. company with operational headquarters in Nigeria, is one of the primary payment processors for Paybills.Africa.

The Brij platform allows for the integration of services with banks, fintech, and other telecommunications providers. In this vein, Brij was pleased to announce a partnership with Digital Credit Management LTD (DCM), which has operations in West Africa and offers a unique nano lending product.

DCM is established in Ghana as a licensed Enhanced Payment Service Provider by the Bank of Ghana. It has agreements with Telecom operators, including Airteltigo and Vodafone, which grants DCM access to over 3 million mobile money subscribers’ data. It is owned by Direct Credit Management LLC, a U.S.-based investment firm.

In this relationship, DCM will provide Brij with access to its digital lending platform and payment services in Ghana and Cote d’Ivoire, while Brij offers DCM exposure to their country operations, most notably in West and East Africa. “This relationship further reflects and solidifies our shared commitment towards solving unique problems in Africa,” said Koros.

“DCM creates digital profiles for those who do not have access to modern-day financial systems. We are excited to expand the scope of our operations across the continent through our partnership with Brij, which shares our vision,” commented Mr. Pierre Liautaud, CEO of Direct Credit Management LLC.

In closing, Mr. Koros said, “We are grateful to the USTDA for convening the U.S. Africa Financial Inclusion Conference and for its leadership in connecting the regulators and innovators driving Africa’s digital transformation.”

For More Information, contact: info@brij.africa

About Brij Technologies, Inc:
Brij Technologies, Inc (Brij) is a U.S. registered firm with a mission to create digital infrastructure to connect African nations and break down barriers to cross-border trade and investment. It specializes in consumer aggregation and financial intermediation (cross-border bill payment and International Money Transfer Operator (IMTO) services), powered by a broad range of digital financial service (DFS) products.

Contact Information
Terence Raft
Creative Director
traft@bridgeinnovation.io
(27)798903730

CIPHER-CORE, INC., Introduced in Bangladesh

Mr. Takatoshi Nakamura CEO, Pres. and Mr. Motoyuki Odachi, COO, Dir. of CIPHER-CORE, Inc., Colorado, USA publicly held company (OTC PINK:CFCI) visited Dhaka, capital of People’s Republic of Bangladesh 6/12/2023-6/17/2023 to discuss using CIPHER-CORE, Inc. internationally patented technology “complete cypher” for Central Bank Digital Currency (CBDC) with the officials of Bank of Bangladesh.

“Daily Business Eye” one of the most influential daily papers in Bangladesh reported 6/18/2023 that a two-member delegation of Japan’s company “Cipher-Core co. Ltd” 100% subsidiary of CIHER-CORE, Inc. USA is now visiting Bangladesh to meet with several officials including Bangladesh Bank (BB), Ministry of Finance and others.

During the discussions, many questions were related to the one and only technology related to “complete cypher” which is not using the ledger system in various financial fields but instead using “complete cypher” that protects even quantum computer attacks. They have made an offer to Bangladesh Bank to introduce the CBDC using their technology. The discussions shall be continued further when visiting Dhaka again 7/28/2023 – 8/01/2023.

During the visit, Mr. Nakamura and Mr. Odachi visited the Japanese Embassy in Bangladesh. Mr. Odachi reported to Ambassador Kiminori Iwama the purpose of their visit to Bangladesh. Mr. Iwama introduced Mr. Tomohide Ichiguchi, the Representative of the Bangladesh office of, Japan International Cooperation Agency (JAICA) to Mr. T. Nakamura and Mr. M. Odachi. JAICA is the agency in charge of administering Japan’s Official Development Aid (ODA).

Mr. Odachi, COO of the company, a former deputy minister of finance of Japan, wants to get JICA’s financial assistance to Bangladesh on this “complete cypher” project for CBDC for the costs being incurred during the development stage as technical cooperation is one of JICA’s three major areas of development assistance, the others being grants and yen loans.

Investor Relations:
Claire Singleton
Tel: 801-580-9928
Email: clairesingleton@aol.com
URL: http://www.cipher-core.com/en

Fonepay and LankaPay Sign MOU for Cross-Border Interoperable Payment System

  • The collaboration would allow Sri Lankan Citizens traveling to Nepal (and vice versa) to make instant payments by QR to the various merchants of their respective networks.

Fonepay, Nepal’s Largest Payment Network announced a partnership with Sri Lanka’s National Payment Network, LankaPay to collaborate in developing an interoperable digital payment system that enables users to transact seamlessly across the two countries. With the integration of these payment networks expected to complete in the next three months, Sri Lankan and Nepali citizens can make merchant payments in each other’s country through mobile-based QR code payment method easily, seamlessly, and securely.

Fonepay & LankaPay sign MoU

Fonepay and LankaPay are pioneers and leading Digital Payment Networks in their domestic markets serving millions of citizens, businesses, banks, FinTechs, and government with payment technology infrastructure and payment programs like mobile app-based electronic fund transfers, mobile-based QR payments, online bill payments, etc.

The MOU was signed by the CEOs in an event witnessed by Chief Guest, Ms. B. Nilusha Dilmini, Charge d’Affaires, Sri Lanka Embassy in Kathmandu, and representatives from the banking and payment service industry and prominent Nepali media.

Welcoming the guests and delegates, Mr. Diwas Kumar Sapkota (CEO, Fonepay) said, “This collaboration signifies our commitment to leveraging technology to unlock new opportunities, enhance financial inclusion, and create a thriving digital economy.”

Equally elated about this collaboration, Mr. Channa de Silva (CEO, LankaPay) mentioned, “This marks a significant milestone in our mission to revolutionize digital payments in our country. It reflects our shared vision of creating a seamless and inclusive payment ecosystem for our customers.”

Mr. Daniel D. Shrestha, Director of Group Strategy of F1Soft Group (parent company of Fonepay) expressing the group’s intent to go global, said, “This initiative is part of our strategy to replicate the successes we have jointly achieved along with our partner BFIs since our inception in 2004 in Nepal, now outside of Nepal.”

F1Soft Group has already started making concerted efforts towards offering products and service lines of F1Soft and its subsidiaries, in the areas such as omnichannel banking through its products, digital lending through Foneloan, and other digital payment solutions to emerging markets outside Nepal.

Chairperson of Fonepay and President of F1Soft Group, Mr. Biswas Dhakal, in his closing remarks said, “This marks a historical step towards achieving interoperability in the digital payment space not only for Fonepay but for the entire country. The interoperability between Fonepay and LankaPay is not just about convenience; it is a catalyst for economic growth. We would like to thank the Central Bank of Nepal for its support in realizing our ambition to establish a cross-border payment network with Lankapay. We also urge the two governments to work on intensifying efforts to increase cross-country tourism, trade, and commerce now that we will have a foundation of interoperable payment systems between the two countries.”

Contact Information
Sumukh Lohani
Sr. Marketing Officer
sumukh.lohani@f1soft.com
+977-9848822763

Fushi acquires Ascentis as part of its expansion into Southeast Asia

Fushi Technology (Shenzhen) Co., Ltd (Fushi) is delighted to announce its acquisition of Ascentis Pte Ltd (Ascentis), a leading Customer Relationship Management (CRM) and eCommerce SaaS solutions provider in Southeast Asia. With this acquisition, Fushi is Ascentis’ controlling shareholder, and it marks a significant milestone in Fushi’s globalization strategy.

Founded in 2003, Ascentis is headquartered in Singapore, with six offices in Southeast Asia. Ascentis specializes in CRM and eCommerce and has successfully implemented its SaaS solutions across 13 countries in the region. Its solutions focus on helping businesses create a seamless Online-to-Offline (“O2O”) customer experience and journey that is both engaging and rewarding. Some of Ascentis’ clients include Far East Organization, Lendlease, Singtel, Starbucks, and Sunway Group.

“Acquiring Ascentis will expedite Fushi’s globalization strategy and expand its business into the growing Southeast Asia market,” said Fushi. “Ascentis’ O2O solutions, once integrated with Fushi’s point of sale, Artificial Intelligence (“AI”) lab, digital payment, and game center, will greatly enhance the group’s offerings and ambitions to create smart Retail and F&B ecosystems for our customers. This becomes even more exciting when the ecosystem is integrated with the smart logistics and supply chain management solutions from Y3 Technologies, who is also a global strategic partner of Fushi.”

This acquisition is a pivotal change for Ascentis, according to Bryan Tan, founder of Ascentis. “Fushi’s technologies not only accelerate our plans to expand into more markets, but more importantly, it now completes our vision to offer a truly integrated, smart, and automated platform with capabilities in cashiering, digital payment, rewards, customer engagement, and smart logistics.”

Fushi is dedicated to providing merchants with end-to-end SaaS solutions and aims to become the largest one-stop digital services platform for merchants in China and Southeast Asia. Since its establishment in 2016, Fushi Technology’s 500-strong R&D team has been deepening and expanding its SaaS services in retail and F&B with products such as POS, QR code menu ordering, mini-programs, artificial intelligence, digital payment, and game center.

StoneX Global Payments & TIS Partner to Offer Enhanced FX Payment Services for Corporate Treasury & Finance Teams

This partnership enables simplified access to global markets and optimized cross border payments for corporate treasury and finance professionals.

Today, StoneX Global Payments and TIS have formally announced an official partnership agreement. Under the arrangement, StoneX and TIS will combine their extensive experience in cross-border payments and cloud-native payment solutions to create an unparalleled level of global service and coverage for corporate treasury and finance teams.

The partnership, which leverages both companies’ comprehensive industry knowledge and market-leading software solutions, enables corporate clients to drastically simplify the complexity of cross-border and foreign exchange payments. As a result, treasury and finance professionals can gain total visibility over their FX transactions, as well as full transparency to FX rates before transfers are initiated and executed. Ultimately, this gives corporate clients a more cost-effective and straightforward workflow for their FX payments, as well as increased protection against currency risks and other common international payment challenges. Today, the service provides a gateway into global markets across 140+ currencies and 180+ countries, allowing clients to choose the right payment option in each scenario with a guaranteed payment delivery of 48 hours or less.

“Teaming up with TIS unites their offering in key areas of corporate clients with our strengths in global payment solutions and technology. This enables our customers not only to leverage efficiency and automation potentials but also to benefit from cost savings in the local currency business. We are looking forward to a fruitful partnership with TIS”, said Marc Joppeck, Head of Sales & StoneX Payments Division Germany & Corporate Payments Europe.

The strong connectivity between TIS and their customers’ back-office systems and banks, following a multi-channel banking approach across any preferred network, makes payment processes streamlined, secure, and efficient. Both TIS and StoneX Global Payments have strong SWIFT (Society for Worldwide Interbank Financial Telecommunication) partnerships and are fully compatible with ISO 20022, as well as the full scope of other messaging standards in use today. This means StoneX Global Payments and TIS can offer fully integrated and automated end-to-end processes regardless of the unique requirements presented by specific clients.

Regarding the benefits of this partnership, Jorg Wiemer, Co-founder and CSO at TIS, stated: “The collaboration with StoneX Global Payments enables our customers to significantly reduce FX payments costs and to further streamline cross-border payment processes. With automated, ERP-integrated processes as well as full transparency on cash flows and FX rates and 140+ currency options, and guaranteed delivery within 48 hours, together with StoneX Global Payments, we can offer unmatched services that allow our customers fast and efficient simple access to global markets. We’re excited to push this collaboration further.”

In recent months, StoneX Global Payments and TIS have already proven that the benefits their partnership provides to organizations are critically important. As of October 2022, TIS clients including the award-winning non-profit organization IFAW (International Fund for Animal Welfare) are leveraging the FX payment solution to achieve substantial cost-savings over their previous setup. The partnership continues to deliver outstanding results for many other clients as well.

Moving forward, the combined strength of StoneX Global Payments and TIS is expected to continue creating enhanced global market access and optimized FX strategies, resulting in a partnership that consistently delivers maximum value to corporate clients.

About TIS

TIS helps CFOs (Chief Financial Officers), Treasurers, and Finance teams transform their global cash flow, liquidity, and payment functions. Since 2010, our award-winning cloud platform and best-in-class service model have empowered the entire office of the CFO to collaborate more effectively and attain maximum efficiency, automation, and control. By streamlining connectivity between our customers’ back-office systems and their worldwide banks, vendors, and business partners, TIS enables users to achieve superior performance in key areas surrounding cash forecasting, working capital, outbound payments, financial messaging, fraud prevention, payment compliance, and more.

With over 11,000 banking options, $80 billion in daily cash managed, and $2.5 trillion in annual transaction volume, TIS has a proven track record of combining our unparalleled market expertise with tailored client and community feedback to drive digital transformation for companies of all sizes and industries. As a result, hundreds of organizations and thousands of practitioners rely on TIS daily to gain strategic advantage, monetize data, improve operational efficiency, and better manage risk. Learn more at https://www.tispayments.com/

About StoneX Global Payments

StoneX Global Payments is a product of the StoneX Group and specializes in cross-border payments. We offer tailor-made foreign exchange and payment services for corporates, NGOs, and financial institutions worldwide. Our global network of 350+ correspondent banks help us deliver transparent, secure, and guaranteed payments in more than 140 currencies across 180+ countries. Clients are able to gain access to our services through a highly scalable, efficient, and advanced payment platform that is easy to use.

StoneX Group Inc. and its subsidiaries are a leading provider of execution, risk management, advisory, market information, and clearing services for various asset classes and markets worldwide. Learn more at https://www.stonex.com or https://payments.stonex.com/

Contact Information
Jennifer Knutel
VP Marketing
jennifer.knutel@tispayments.com
978-875-2085

Marc Joppeck
Head of Sales & StoneX Payments Division Germany & Corporate Payments Europe
marc.joppeck@stonex.com

SOURCE: TIS

T4 Banking Philippines 2023: Trends, Tactics, Trust Building Components, and Technology in the Philippine banking landscape

As one of Philippines’ premium conference brands for banking community, T4 Banking is considered as a bridge, and an arena where we connect the thinkers, innovators, disruptors and most importantly all of the decision-makers in the Philippine banking ecosystem.

The live, in-person event will be the gathering of all business executives from banks, financial regulators, pan-financial companies, and technology solution providers across the entire country. The 2023 Edition with the theme “Digital readiness and the future of banking in the Philippines” will be hosted on August 17, 2023 in The Manila Hilton Hotel, where you can expect to see more than 300 high profile delegates such as Technical Directors, CEO, CIO, CTO, CDO, Risk Control Directors, Information Security Heads, and a lot more.

The event is strongly committed in providing its audience deeper knowledge with 4 Ts – Tactics, Trends, Trust Building Components, and Technology in the Philippine banking landscape. The community aims to accelerate the transformation to a future digital banking ecosystem. This conference will be a closed door, B2B oriented forum. Varies type of arrangements will be presented during the event such as lucky draws, interactive panel discussions, roundtable luncheon, booth making contest, one-to-one private meetings, networking and awards-giving.

This is not your ordinary conference. We will be bringing the highest level of excitement and energy showcasing the world’s top banking technology providers and bank participants, all in one roof!

KEY SUBJECTS:
1. Data governance mechanisms to drive bank performance
2. Banks evolving as API providers: Open banking takeaways
3. Artificial intelligence for the banking ecosystem
4. Bank intelligent branches and digital tools
5. AI: The secret sauce to banks risk management strategy
6. The fundamental elements of core modernization for banks
7. Digital customer banking experience: From journeys to intent
8. Cybersecurity in banking: Importance, threats, and challenges
9. Banking risk and compliance management 2023 outlook
10. Upgrading bank marketing technology to become future-ready
11. Philippine banking: Talent acquisition, development, retention and engagement
12. Global banking innovations and emerging technology trends

For sponsorship, and speaking engagement please contact our event director at jimby@t4bevent.com or visit our event website at www.t4bevent.com.

Don’t miss the opportunity to be a part of the biggest event in the Philippine banking ecosystem! Witness how we gather all of the leading experts in the industry and share their thoughts and insights with very timely topics.

CoinFlip’s New Crypto Platform ‘Olliv’ Aims to Make Cryptocurrency a Simple Part of Everyday Life

CoinFlip, a leading fintech company powered by cryptocurrency, announces today a new chapter of growth and product evolution with the launch of ‘Olliv,’ a safe, inclusive, self-custody-powered crypto platform delivering financial services in the digital economy accessible to everyone. Olliv is breaking down the exclusivity barrier of cryptocurrency and offering a space that welcomes the next generation of investors to the digital economy while serving as an onramp for the future of blockchain utility and tokenized assets. The Olliv platform provides a frictionless way for consumers to buy, sell, send, receive, and swap assets securely stored on a self-custodial wallet, removing the uncertainty of unknown third-party custodians. Leveraging CoinFlip’s existing network of crypto ATMs and award-winning customer service, Olliv serves to bridge the gap between physical and digital investing, expanding accessibility to this emerging technology.

Olliv recognizes the future of crypto isn’t about who’s already in it, it’s about onboarding new users and propelling mass adoption. Education, simplicity, and ease of use are at the core of Olliv’s ethos, as the platform looks to offer guidance and insights that make it easier to achieve financial freedom. Packaged in user-friendly software, Olliv enables ‘Olliv Us’ to participate in the digital economy in a way that makes customers feel safe, supported, and in control.

“With the launch of Olliv, our goal is to demystify cryptocurrency and create an inviting community for everyone. We aim to welcome customers with open arms into this next step toward financial revolution, regardless of their financial knowledge or background,” said Ben Weiss, CEO and co-founder of CoinFlip. “We”e always looking for ways to invest in our customers that will contribute to the future of DeFi. We are confident our self-custodial model, a key value of CoinFlip’s business since inception, will pave the path for a significant and much-needed shift in the industry. We look forward to continued growth and innovation in the coming year as we get one step closer to on-ramping the next generation of crypto investors.”

Amongst its suite of services, Olliv features an intuitive interface for secure transactions and state-of-the-art encryption. Olliv also offers CoinFlip’s award-winning 24/7 live customer service and provides educational resources via user-friendly content. The platform’s commitment to transparency ensures users have visibility to all applicable fees, which are amongst the lowest in the industry, while trusted payment integrations enable secure and seamless payments.

“We envision a future where everyone can participate in the digital economy and utilize their holdings to make everyday purchases and gain access to previously hard-to-buy assets such as precious metals, real estate, and energy, without the need for frustrating third-party intermediaries,” said Rory Herriman, Chief Technology, Digital, and Strategy Officer of CoinFlip. “Our vision for Olliv is to innovate and break down barriers around safety, security, and sovereignty, to empower people to invest and give them individual ownership of their assets thanks to the accessibility cryptocurrency provides.”

Olliv is creating a unique space for people to join the crypto ecosystem at a pivotal point where technology and use cases for digital currency are rapidly evolving. The company will continue to grow its offerings and add additional features to support a user throughout their financial lifecycle. With a commitment to providing services that disrupt the traditional finance system, Olliv is poised to become a leader in the fintech space, providing essential services for all users, regardless of level of experience.

Amid challenging market conditions, CoinFlip remained a trusted resource for customers showcasing dedication to industry compliance and transparency. In doing so, the company demonstrated impressive growth, nearly doubling its headcount and expanding its ATM presence to Puerto Rico, Canada, and Australia. The company’s 2022 revenue exceeded $100 million and its team is projected to grow by 23% by the end of 2023. CoinFlip’s exceptional growth has been recognized by Crain’s Chicago Business, which named it the No. 1 fastest-growing company in Chicago for two consecutive years and by Inc. 5000, where it has ranked within the top 100 in 2021 and 2022. With the launch of Olliv, CoinFlip solidifies its position as a leader in the financial revolution fueled by cryptocurrency and blockchain technology.

Starting today, Olliv is offered in the United States and Puerto Rico, except for Alaska, Iowa, New York, Oregon, Nevada, Arkansas, Louisiana, and Vermont with intentions to expand in accordance with local regulation. To learn more about Olliv and to sign up, please visit Olliv.com.

About Olliv by CoinFlip

Olliv is a next-generation financial services platform powered by cryptocurrency that offers consumers a safe, inclusive, and supportive on-ramp to financial freedom. The omnichannel offering includes the Olliv digital platform and the CoinFlip network of cryptocurrency ATMs. With more than 4,000 machines in 49 U.S. states, Puerto Rico, Canada, and Australia, Olliv leverages CoinFlip’s network of cryptocurrency kiosks to bridge the gap between physical and digital currency and introduce crypto to the masses. Olliv was founded as CoinFlip in 2015 and is headquartered in Chicago. To learn more, visit Olliv.com.

Contact:
Bryan Feinberg
zephyr@platodata.io.

Yeahka Announces 2022 Annual Results

  • Strong Business Resilience: Payment Speeds Up Monetization and
  • In-Store E-commerce Achieved Significant Growth with Improved Operating Efficiency

Yeahka Limited (Yeahka or the Company, HKG: 9923), a leading payment-based technology platform in China, is pleased to announce the annual results for the twelve months ended 31 December 2022 (the year or 2022).

Financial Highlights

  • Total revenue reached RMB3,418.0 million, representing a year-over-year (YoY) increase of 11.8%;
  • Gross profit rose 26.6% YoY to RMB1,030.9 million, while gross profit margin increased 3.6 p.p. to 30.2%;
  • Adjusted EBITDA amounted to RMB213.4 million, an increase of 73.0% YoY;
  • The gross profit margin of in-store e-commerce services improved from 35.9% in 2021 to 67.3% in 2022;
  • Net loss of in-store e-commerce services significantly narrowed to RMB51.9 million in the second half of 2022, a decrease of 67.4% from the first half of 2022.

Operational Highlights
Number of merchants and fee rate of one-stop payment services continued to grow:

  • Total gross payment value (“GPV”) of payment services reached RMB2.23 trillion, up 5.1% YoY;
  • The number of active payment service merchants reached a historical high of 8.1 million, an increase of 11.4% YoY;
  • Fee rate increased to 12.3 basis points (bps) in 2022 from 10.7 bps in 2021, trending upward (first half of 2022: 12.0bps; second half of 2022: 12.7bps);
  • The peak daily count of app-based payment transactions reached over 50 million, hitting a record high;
  • Number of independent sales agents in nationwide channel network reached nearly 18,000;
  • In January and February of 2023, the year-on-year growth rate of our GPV was 9.8% and 34.1%, respectively;
  • Official guidance of GPV in 2023: RMB2.7 trillion ~ RMB2.9 trillion.

In-store e-commerce services grew rapidly and achieved significant results:

  • Total gross merchandise value (“GMV”) reached over RMB3.3 billion, up 7.3 times YoY;
  • Total number of orders reached nearly 37 million, increasing by 3.1 times YoY;
  • Stock keep units (SKU) reached over 400,000, up 1.5 times YoY.

Mr. Luke Liu, Chairman of the Board and Chief Executive Officer, said, “2022 was an unusual year, but our business continued to grow at a healthy rate and delivered strong financial results thanks to our broad geographic coverage and the strong synergies within our commercial digitalized ecosystem. Notably, our payment business saw an increase of both GPV and fee rate, and our in-store e-commerce business contributed significant revenue and gross profit and while drastically reducing its loss on monthly basis. “

Mr. Ben Zhao, Board Secretary and General Manager of Corporate Development explained, “For payment, we continued to diversify ISO base, expanded our joint merchant acquiring services with banks, and launched various DC/EP pilot programs. Our payment platform is becoming increasingly inclusive and robust, and we have begun to upgrade our clientele strategy to include mid-to-large sized customers and vertical brand leaders. “

“For in-store e-commerce, we grew GMV over 7 times, and have upgraded to multi-layer market strategies including self-operated sites and co-op sites that helped us to reduce our BD costs while expanding our geographic coverage. We optimized our organizational structure and developed technology-empowered services such as KOL-matching, live-streaming optimization and ads deployment for our co-op partners. Jointly, we have created a merchant alliance that shares merchant resources, and offers Yeahka’s digital empowerment tools and additional cross-selling solutions such as payments and SaaS offerings.”

Outlook
Mr. Luke Liu concluded, “Today, our scalable ecosystem has shown its ability to create a virtuous cycle among the payment, in-store e-commerce, and merchant solutions segments. The merchant base and consumer insights we accumulated over the years directly led to the prosperity of our merchant solutions and in-store e-commerce business, and they in turn enhanced loyalty and stickiness in our payment business, sometimes even bringing new merchants to the payment business. Because of our strategic direction, we have a healthy and sustainable business that will endure for a long time. In 2023, we will continue to focus on creating value for our merchants and providing a wide range of local lifestyle experiences to consumers, and create sustainable value for shareholders, employees, and society at large.”

About YEAHKA LIMITED (HKG: 9923)
Yeahka is a leading payment-based technology platform dedicated to creating value for merchants and consumers. Our goal is to build an independent and scalable commercial digitalized ecosystem to enable seamless, convenient, and reliable payment services to merchants and consumers, and to further expand into serving merchants and consumers with our diversified product portfolio, which now includes (i) in-store e-commerce services, providing consumers with local lifestyle services of great value, and (ii) merchant solutions, enabling merchants to better manage and drive business growth.

Investor and media enquiry:
Yeahka Limited
IR team
Email: ir@yeahka.com

Global Digital Payments Leader, Visa joins Dubai FinTech Summit as Co-host

The Dubai FinTech Summit welcomes Visa as a co-host sponsor for the two-day event taking place on 8 and 9 May this year. Visa is a global leader in digital payments that is connecting the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive.

“FinTechs are propelling innovation in the payments industry which is helping expand access to quality, affordable financial services, and innovative payment solutions. At Visa, we are empowering FinTechs to help grow the digital economy for the benefit of consumers and businesses in the region. Our partnership with DIFC’s Dubai FinTech Summit provides us and our industry partners the platform to explore how we can continue to collectively bring innovations in digital commerce that uplift everyone, everywhere,” said Dr. Saeeda Jaffar, Visa’s Senior Vice President and Group Country Manager for GCC region.

According to Visa, 4 in 5 consumers surveyed in the UAE would switch merchants based on the payment methods offered, with most preferring digital payments over cash.

Dr. Jaffar added, “The unprecedented digitisation during the pandemic has changed consumer expectations. This shift is prompting businesses to respond quickly, and FinTechs are helping develop the solutions businesses need to be competitive in our digital-first world. At Visa, we remain committed to growing digital commerce by providing FinTechs with access to our experts and technology through initiatives such as the Fast Track program so they can more easily create solutions for businesses to offer their customers faster, more secure ways to pay and to manage their expenses and get working capital. We are also working with FinTech leaders to embed finance across key categories such as digital wallets and “Buy Now, Pay Later”, which are both increasingly popular with consumers.”

Currently home to 60 per cent of all FinTech companies based in the GCC, Dubai and DIFC is being recognised as a global centre for innovation, with its unique ecosystem and comprehensive approach to business, driving not only the future of finance but increasingly the future economy.

Mohammad Alblooshi, Head of DIFC Innovation Hub and FinTech Hive said, “Organised by DIFC, the leading international financial hub in the (MEASA) region, the Summit will bring together 5,000 global FinTech and technology experts and will provide the perfect environment for connecting start-ups, investors and industry leaders tapping into this opportunity as they advance in the region and beyond.”

The Dubai FinTech Summit will take place at Madinat Jumeirah in Dubai. Visitors can now purchase tickets (https://bit.ly/3n74kBM) for the Dubai FinTech Summit, with early bird prices available till 15 April 2023.

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated GDP of USD 8 trillion.

With a close to 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of over 36,000 professionals working across over 4,300 active registered companies — making up the largest and most diverse pool of industry talent in the region.

The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.

For further information, please visit our website: difc.ae, or follow us on LinkedIn and Twitter @DIFC.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.

Learn more at About Visa, visamiddleeast.com/blog and @Visamiddleeast.

About Trescon

Trescon is the world’s fastest-growing business-to-business events, training, marketing and consulting company primarily focused on the adoption of sustainability, inclusive leadership and emerging technologies like artificial intelligence, blockchain, metaverse, cloud, fintech, data analytics and cyber security.

Our summits, conferences, and expos create real economic impact by connecting and empowering the key ecosystem of government organizations, regulators, policymakers, private sector companies, solution providers, startups, investors, accelerators, advisors, consultants, associations, academia and more.

Thought leadership, knowledge exchange, brand positioning, business expansion, market penetration, lead generation, finding solutions & services, capital raising, capacity building, training and networking are among the key objectives of our stakeholders.

With the help of our 250+ employees across offices in 6 countries, several of our clients have quadrupled their leads, shortened sales cycles by half or less, entered markets three times faster, closed deals within unimaginable timelines and grown their businesses ultimately.

Whether you are an organization or an individual, Trescon has something to offer you.

For further details about the announcement, please contact:
Nupur Aswani
Head, Media, PR and Corporate Communications, Trescon
+91 95559 15156 | media@tresconglobal.com

For further information : please visit – www.tresconglobal.com.