Bank of East Asia unveils centralised e-payment platform for merchants

BEA’s ‘i-Payment hub’ can process different payment types in a single device.

Bank of East Asia (BEA) has launched an all-in-one electronic payment platform to be made available for merchants, doing away with the need to set up separate devices to process different transactions due to varying credit cards and other forms of mobile payment, reports South China Morning Post.

Also read: Hong Kong banks bust out the chatbots

BEA’s consolidated platform called the i-Payment hub allows merchants to use a single device to accept all credit cards and e-payments like WeChat Pay, Alipay, Apple Pay, Google Pay and JETCO Pay.

The device can also help in bill settlement and record-keeping processses.

“The single platform and device will bring in greater convenience for merchants to cater for the needs of the increasingly tech-savvy younger customers who like to make payments via their smartphone.” said Vincent Hui, general manager and head of the personal banking division of BEA.

BEA Is the latest local lender to join Hong Kong’s heated mobile payments market as tech firms like Octopus, Alipay and WeChat Pay are challenging their dominance. HSBC earlier raised the top-up limit on its e-payment app, PayMe, to $50,000.

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