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BANKING TECHNOLOGY | Staff Reporter, Hong Kong

Bank of East Asia to launch i-Payment Hub in 2018

It's an integreted payment platform for merchant and personal customers.

The Bank of East Asia unveiled plans to launch the i-Payment Hub, a seamless integrated payment platform which has been developed in collaboration with Mastercard SendTM and QFPay, a leading global mobile payment and big data technology company. The first integrated payment platform for merchant and personal customers in Hong Kong, i-Payment Hub will be launched in the first half of 2018.

As adoption of mobile payment methods continues to grow in Hong Kong, the i-Payment Hub will enable BEA merchant customers to consolidate all offline and online mobile payments they receive using a single platform.

This will help merchant customers reduce operation costs as well as enhance efficiency of cash management. In addition, personal customers will be able to settle international payments easily using Mastercard SendTM via the i-Payment Hub.

Announcing the Bank’s plans to launch the new platform, Mr. Adrian M.K. Li, Executive Director & Deputy Chief Executive of BEA, said, “BEA has been leading the way in the provision of innovative solutions that help people manage their finances and payments in daily life.

As the first bank in Hong Kong to introduce i-P2P and riding on the increasing popularity of P2M (Person to Merchant), we will establish partnerships with additional digital payment providers to extend i-Payment Hub coverage.”

Meanwhile, the BEA App is undergoing a major revamp, with a new interface and enhanced user experience scheduled for launch early next year. The next generation BEA App will employ the most advanced intelligent software to provide customers with a greater level of customised financial support in their daily lives.

Using big data analytics of customer footprints and behaviour, the i-Planner will provide customers with personalised offers and services. The first of its kind in Hong Kong, the i- lanner will be launched with travel-related content and features with future offerings related to investment, mortgages, planning for children’s futures, and more.

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