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CO-WRITTEN / PARTNER | Staff Reporter, Hong Kong
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Global Payments Asia Pacific (Hong Kong) Limited wins back-to-back at the Technology Excellence Awards for Cybersecurity for Financial Services and E-Commerce for Financial Services

The tech company's payment solutions secured its recognition in the inaugural edition of TEA

Hong Kong Business honoured Asia's leading companies in technology innovation during the inaugural Technology Excellence Awards (TEA) last February 27.

The winners were outstanding companies who have made exceptional contributions through the most innovative and unique IT initiatives and solutions that enhanced their company's business in Hong Kong.

Tech companies eligible for the recognition were those that pioneered ground-breaking IT products and solutions as well as tech firms with the most innovative technology initiatives that made an impact to their businesses.

Global Payments Asia Pacific (Hong Kong) Limited, a leading worldwide provider of payment technology services, bagged two Technology Excellence Awards for Financial Services.

Global Payments' Tokenisation Solution was recognized for setting up a new security measures scheme for their clients. Their Tokenisation Solution provides eCommerce clients with additional protection against online data breach and cyber-threats by securely storing customers’ sensitive credit card data in an encrypted environment. What’s more, this solution can give merchants improved chances of preventing payment card theft & breach-related losses such as cost on legal litigation, which in turn can help merchants ensure a high level of customer confidence and maintain their good business reputation.

The second recognition, meanwhile, was for Global Payments' in-app Apple Pay enablement. This solution enables their merchants to accept credit and debit card payments via Apple Pay. Apple Pay provides enhanced safety and privacy for users. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element of the device. Each transaction is authorised with a one-time unique dynamic security code.

Through the enhancement of technology stack, Global Payments becomes one of the first payment service providers in Asia to bring Apple Pay to merchants in Hong Kong. Global Payments’ mCommerce merchants may benefit from adoption of Apple Pay in several ways. First, merchants who do business on mobile may capture more sales by raising conversion rate. Payment experience is streamlined, without filling lengthy credit card, billing and delivery address with tiny virtual keys. Besides, Apple Pay has a better chargeback and fraud rate. It can reduce the risk of liability and allows merchants focusing on business and daily operation.

The Technology Excellence Awards (TEA), presented by Hong Kong Business, was held on February 27 at the Conrad Hong Kong.

This year's nominations were judged by a panel consisting of Bong Chan, Southern Region Leader (China TMT Industry) of Deloitte China, Jason Yau, Partner (Technology and Management Consulting) of RSM Hong Kong, Douglas Kwan, Partner (Assurance and Advisory Services) of SHINEWING (HK) CPA Limited, John Poon, Head of Accounting and Outsourcing Solutions of Mazars Hong Kong, and Jonathan Chu, Partner of Stephenson Harwood.

If you would like to join the 2020 awards and be awarded as one of the region's top tech companies, please email Julie Anne Nunez at julie@charltonmediamail.com or contact +65 3158 1386 ext. 221. 

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