Worldline, a frontrunner in global payment services, has teamed up with the Bank of China (Hong Kong), marking Worldline’s debut deployment of its Paysuite Essential Edition, formerly known as Cardlite, in Hong Kong.
The collaboration signifies a shift in the payment industry towards open platform solutions, with BOCHK pioneering this move among regional financial institutions. As one of the three note-issuing banks in Hong Kong, BOCHK’s adoption of Worldline’s open platform card solution exemplifies the additional benefits it brings. The Paysuite Essential Edition offers a secure and efficient alternative to traditional legacy platforms.
Paysuite Essential Edition, the open platform card solution from Worldline, encapsulates five core functionalities: issuing, acquiring, authorization, switching, and routing.
The partnership enables Worldline to deliver a more tailored experience to BOCHK’s customers, bolstered by a local support team that possesses deep regional expertise. This initiative is geared towards supporting BOCHK’s future business growth and aligning with compliance demands of the Hong Kong banking sector. Additionally, the infrastructure aids the bank in swiftly launching new business features, significantly speeding up the deployment of innovative services.
Worldline’s solution enriches its capabilities through API connectivity, which simplifies integration and facilitates seamless interaction with other systems like digital banking, fraud detection, and customer service. Through a user-friendly portal, the bank can autonomously create or adjust products, enhancing its flexibility, scalability, and control. The Paysuite Essential Edition, already accessible in other markets, is also certified by Mastercard.
Noel Chow, Worldline’s head of financial services Asia-Pacific, commented on the partnership, “We are excited to partner with BOCHK, a prestigious bank in the region, to launch our new innovative solution Paysuite Essential Edition in Hong Kong. The partnership highlights the trust and confidence from leading financial institutions, in our innovative open platform solutions. We believe this partnership paves the way for other banks to modernise their card systems and migrate from legacy systems to open systems.”
Daniel Li, chief digital officer of personal banking & wealth management at Bank of China (Hong Kong), also expressed enthusiasm, “As open platform solutions are the future in digital payments, BOCHK is pleased to partner with Worldline, known for its comprehensive innovative Fintech solution and unparalleled local support it offers, to provide our customers with the Mastercard multi-currency debit card powered by its Paysuite Essential Edition. This collaboration marks a significant step forward in our commitment to delivering seamless payment experience to our valued customers and promote the wider use of digital payments.”
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
