Paygate, in cooperation with its subsidiary Paygate Hong Kong, has officially announced that it has obtained Hong Kong regulatory authority’s approval for its Hong Kong local collection and Korea remittance service.
In the future, with the remittance system established by Paygate, ‘traveler exchange’ and ‘travel ATM withdrawal’ between Korea and Hong Kong will be improved to be easier and convenient for customers.
Based on its MSO license, Paygate Hong Kong will collect funds for small amount remittances through a virtual account at a local bank in Hong Kong, and act as a KYC, AML, and a global settlement center.
Park So-young, CEO of Paygate, said, “Based on Hong Kong, the global remittance network outpost based on the Seyfert Wallet platform, we will complete the establishment of network infrastructure with more financial institutions in Southeast Asian countries.”
Paygate is also referred to as a ‘fintech creator’ for building the foundation of various fintech industries based on the secure wallet system introduced on the market in 2003.
It is expected that Paygate, which has developed its capacity as a wallet platform to create, operate, and maintain safe and sound money transactions between financial institutions and companies, will continue to take steps forward.
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