The Payment Cards Group forms alliance with Black Bear Merchant Services Limited

By Gloria Mathias

The Payment Cards Group Limited (PCG), a cloud-native payment processor and acquirer, and Black Bear Merchant Services Limited (the holding company of BBMSL Limited “BBMSL”) have announced the signing of an alliance to establish a new brand and group holding company, ABBY Pay&Tech Holdings Limited (AbbyPay).

Under this, AbbyPay will leverage PCG’s market position as an acquirer with principal memberships in all major card schemes, including Visa, MasterCard, AMEX, UnionPay, and JCB. The combined group will also use the strong digital payment technology capabilities of PCG’s A3A, Asia’s first cloud-based payment processing and settlement platform, to service BBMSL’s strong customer base.

This partnership will accelerate PCG’s expansion in market share. It will provide local merchants in Hong Kong and other Asia Pacific regions with multiple brands, meeting diverse market demands and empowering local merchants through innovative payment technology.

Beatrice Tai, Co-Founder and COO of PCG, said, “This strategic alliance marks an important milestone for PCG in the field of payment solutions in the Asia-Pacific region. With the technological advantages of our A3A platform, combined with BBMSL’s strong market coverage, AbbyPay will provide innovative, seamless payment and settlement solutions for micro-merchants, SMEs, and enterprises, rapidly and efficiently tapping into new markets across various industries in the Asia-Pacific region. We look forward to AbbyPay expanding its business footprint and further consolidating the local payment industry, strengthening PCG’s leading market position in the payment sector.”

Gerald Yu, CEO of BBMSL, said, “This strategic alliance represents PCG’s high recognition of BBMSL’s years of effort and achievements in the Hong Kong market, reflecting our potential and confidence in working together. Since 2017, BBMSL has held a significant market share in the local SME merchant market and has gained widespread recognition and support in Hong Kong. These advantages will lay a solid foundation for AbbyPay’s development.”

AbbyPay will offer Asia’s cloud-based payment processing and settlement platform, A3A, across markets in Japan, Singapore, Malaysia, and Thailand. Through a single API, A3A offers direct end-to-end processing with significant card schemes (such as Visa, MasterCard, AMEX, JCB, and UnionPay), e-wallet networks, and mobile payment platforms. Compared to traditional payment processing platforms, A3A boasts competitive advantages such as low integration fees, speedy and easy integration, instant settlement, and real-time transaction data insights.