AsiaPay wins at Hong Kong Business Management Excellence Awards 2019

The company’s chief executive received the Executive of the Year Award for Financial Technology.

As digital payments become a global growth phenomenon, AsiaPay is determined to provide a secure, comprehensive and integrated platform that enables merchants to accept such payments through credit and prepaid cards, net banking, e-Wallet and QR, in a highly secure manner.

In recognition of chief executive Joseph Chan’s vision for AsiaPay, Hong Kong Business has granted him the Management Excellence Award as Executive of the Year in the Banking category. The CEO of the 20-year-old company believes that his long-term vision is “to operate a successful and socially responsible company which continually provides individuals and corporate entities with the newest payment product values, readily enhance one’s quality of life, and maximise business opportunities, efficiency, and productivity.”

Joseph’s understanding of the needs of e-commerce business entities involves balancing effectiveness and efficiency in executing business plans. This strategy entails marketing research with his team and being open to new learning experiences. Flexibility and creativity are also important elements that enable the company to adapt to changing market demands and consumer behaviour. Furthermore, internet and mobile engagement, including assessment of how consumers make purchasing decisions and user experience, are priorities in reaching out to a young and technology-savvy clientele.

AsiaPay’s regional operations have security features that include anti-fraud filters, scoring and alerts with customisable rules and card tokenisation to avoid risk. Real-time payment analysis is provided on the basis of big data. The company’s integrated services accommodate multiple languages, currencies, channels, and acquirers in 12 markets in Asia. A high-performance and high-service uptime of above 99.9% is provided through 24-hour technical support via 15 country operations.

Processing operations include PayBooth (real-time direct payment to merchant accounts), Payment Link (payment request URL and QR code generation), Recurring Payment (multiple schedule recurring payment billing), Batch Payment (batch payment submission for processing), Voucher Payment (multichannel voucher generation, fulfilment and reconciliation), Event Payment (payment logging for parameterised events), API/SDK Library (support sophisticated integration via API/SDK library integration), DCC (Dynamic Currency Conversion), Instalment Payment, Loyalty Point Payment, etc.

At present, AsiaPay has dedicated localised services in Australia, India, Indonesia, Hong Kong and mainland China, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Recently, the company has also announced partnerships with Discover, Diners Club, and affiliate networks cards through PayDollar, its omni-channel payment management platform.

AsiaPay’s brand partners have shared positive feedback on its services. According to Magnetic Asia, “AsiaPay were extremely helpful [in setting up a China UnionPay processing account in Singapore]… in record time. I was very impressed by their ability to respond so quickly. I wouldn’t hesitate to recommend them based on my experience so far.”

For SaSa.com, Hong Kong’s largest listed cosmetic and healthcare business, switching to AsiaPay “not only [enabled us to attain] significant cost savings but also substantially enhanced our services [through] more payment options with enhanced security.”
Meanwhile, the Empire Hotels & Resorts was “the first among Hong Kong’s hotels to engage AsiaPay as a provider of the hotel group’s internet payment gateway on the strength of [the company’s] established presence in Hong Kong and Asia and its expertise in this specialised technology.”

In a testimonial, Westminster Travel Ltd. added that “the gateway [is] highly secure and reliable. The functionalities and performance have been well received and [our staff operating the gateway is satisfied] with the ease of operations and differentiated features.”

Watch the interview with Joseph below to know more about his success:

The Hong Kong Business Management Excellence Awards was held on 21 November at Island Shangri-La Hong Kong. The awards aims to honour the city's most outstanding business leaders, including noteworthy individuals and teams whose initiatives have brought tangible business gains for their company's operations.

The 2019 nominees were judged by a panel consisting of Charbon Lo, Director at Crowe (HK) CPA Limited; Roy Lo Managing Partner at SHINEWING (HK) CPA Limited; Anthony Tam, Executive Director of Tax Advisory Services, Mazars Hong Kong; Andrew Ross, Managing Director at Baker Tilly Hong Kong; and Eugene Liu, Managing Partner at RSM Hong Kong.

If you would like to join the 2020 awards and be lauded as one of the most outstanding management executives of Hong Kong, please email [email protected].