TNG announces partnership with Visa to introduce prepaid solutions in Asian Markets
19 Mars 2019 - 02:00PM
JCN Newswire (English)
|
Alex Kong, Founder & Chairman of TNG (Right) and Maaike
Steinebach, Visa General Manager (Hong Kong & Macau) attended
the ribbon cutting ceremony to celebrate the launch of prepaid
solutions in Asian markets. |
|
Alex Kong, Founder & Chairman of TNG (Right) and Maaike
Steinebach, Visa General Manager (Hong Kong & Macau) attended
the toasting ceremony, revealing the strategic partnership between
TNG and Visa. |
HONG KONG and SINGAPORE, Mar 19, 2019 - (ACN
Newswire) - TNG FinTech Group ("TNG" or the "Group"), Asia's
leading financial technology ("FinTech") company, has teamed up
with Visa, the global leader in digital payments, to form
partnership to launch prepaid solutions in six target markets
across Asia, in a move that will further expand its digital payment
services in a region where adoption of digital wallets is gaining
traction. They officially revealed their partnership during the
world's leading fintech event Money 20/20 Asia in Singapore.
The TNG and Visa partnership will explore enabling secure payment
for online and face-to-face for the underserved as well as unbanked
segments in the region. The prepaid payment solutions aim to tap
into Visa's worldwide acceptance network and will be integrated
into TNG Wallet.
TNG focuses on six primary launch markets in Southeast Asia, namely
Indonesia, Malaysia, the Philippines, Singapore, Thailand and
Vietnam, and subsequently expanding into other markets.
According to the World Bank, about 1.7 billion people in this world
are unbanked(1) and in Southeast Asia alone it is estimated that
only 27 percent of the population have banking accounts(2).
Alex Kong, Founder and Chairman of TNG, said: "As a FinTech company
focused on Asia, we are committed to empowering the unbanked in
this part of the world. With the backing of Visa, which has more
than 50 million point-of-sale locations globally, we are confident
that this strategic partnership will benefit consumers as well as
merchants and retailers in all target markets."
As a participant of Visa Fintech Fast-Track Program, launched last
year, TNG can tap into Visa's global network in as little as four
weeks. The fast-track program provides a new commercial framework
that includes access to Visa's payment capabilities, competitive
fees and streamlined processes, tailored to Visa's fintech
partners' needs. The program also links fintechs to platforms that
are already certified by Visa and connects fintechs to sponsoring
banks.
Maaike Steinebach, Visa General Manager, Hong Kong and Macau said:
"Our partnership with TNG, through the Visa Fintech Fast-Track
Program, reinforces Visa's ongoing strategy of providing customers
with the widest and best possible choices of payment solutions
while accelerating the adoption of digital payments across the
region. We hope to continue to collaborate with TNG to expand
access to digital payments from Asia and beyond, enabling simple,
fast and secure payments for more people through Visa's worldwide
network and technology."
Notes:
(1)https://globalfindex.worldbank.org/chapters/unbanked
(2)https://home.kpmg/xx/en/home/insights/2016/04/fintech-opening-the-door-to-the-unbanked-and-underbanked-in-southeast-asia.html
About TNG FinTech Group
Headquartered in Hong Kong, TNG FinTech Group is an industry
pioneer providing next-generation financial services to the 1.2
billion unbanked population in Asia through its e-wallet platforms.
The efficient virtual payment services it provides include
electronic payments, global remittance, global cash withdrawal and
settlement and other financial services. Its "Global E-Wallet
Alliance" currently covers Hong Kong and 12 Asian countries,
including China, the Philippines, Indonesia, Singapore, Malaysia,
Thailand, Vietnam, India, Sri Lanka, Bangladesh, Nepal and
Pakistan. The alliance provides 24x7 cash-in and cash-out services
to users through a network of 852 banks and over 183,000 cash
pick-up points globally. For more information, please visit
www.tngfintech.com
About Visa
Visa Inc. (NYSE:V) is the world's leader in digital payments. Our
mission is to connect the world through the most innovative,
reliable and secure payment network - enabling individuals,
businesses and economies to thrive. Our advanced global processing
network, VisaNet, provides secure and reliable payments around the
world, and is capable of handling more than 65,000 transaction
messages a second. The company's relentless focus on innovation is
a catalyst for the rapid growth of connected commerce on any
device, and a driving force behind the dream of a cashless future
for everyone, everywhere. As the world moves from analog to
digital, Visa is applying our brand, products, people, network and
scale to reshape the future of commerce. For more information,
visit About Visa, https://usa.visa.com/visa-everywhere/blog.html
and @VisaNews.
Media Contact
Email: pr@tngfintech.com
Tel: +852 3951 6277
This media release is issued by TNG FinTech
Copyright 2019 ACN Newswire . All rights reserved.
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