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Hong Kong, 4 November 2016: Optal Limited today announced that its wholly owned subsidiary, Optal Asia Limited (Optal Asia) has been awarded a Stored Value Facility (SVF) licence by the Hong Kong Monetary Authority (HKMA).
The licence permits Optal Asia to issue its MasterCard virtual account numbers or “VANs” for use by Hong Kong customers. Optal’s UK subsidiary, Optal Financial Limited, is already one of Europe’s leading virtual card issuers, enabling customers to make business-to-business payments securely and efficiently.
Optal Asia CEO, Danny Cheung, said, “We’re delighted to have secured an SVF licence, enabling us to provide our innovative payment solutions to the Hong Kong market.”
Optal Limited Managing Director, Rob Bishop, said, “Securing an SVF licence is another important step towards Optal becoming the region’s leading ecommerce enabler. We’re looking forward to continuing to work with our key business partners to execute new, Asian based opportunities.”
Optal is re-inventing how payment processes work across complex industries. By stripping payment processes of their customary inefficiency, we help companies boost profitability across a growing number of sectors around the world.
As a principal member of MasterCard in the UK and Hong Kong, Optal issues MasterCard branded payment products, driving its focus on developing and bringing to market game-changing payment solutions.
Optal holds a 23.5% interest in eNett International, a specialist global travel payments company, and is its primary issuer of virtual credit cards.
For more information about Optal, visit www.optal.com.