ONPEX expands into Asian market with new Hong Kong office

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ONPEX, the German/Luxembourgian payment solution provider is seeking to capitalise on the innovative payments technology and services coming out of the East-Asian markets by opening up a new Hong Kong office.

East Asian markets are rapidly becoming the global centre of innovative payment technology and e-commerce, with the likes of internet trading company Alibaba dominating global markets after its $25 billion flotation last year.

“China has around 600m online consumers with a market value of €14.5bn1 . This is a market that is ready to trade with the world. East Asian merchants want to sell to the world and the world wants to buy from that market,” said Christoph Tutsch, ONPEX CEO.

The new Hong Kong Office will consolidate ONPEX’s global offering and will be used to gather bank accounts for ‘collection and settlements’. The office will also establish relationships with local acquirers as well as Hong Kong and China in general.

ONPEX also wants to study the local regulations and financial laws as a means of laying down a framework for the provision of financial services and regulatory governance.

The new office also means that ONPEX’s payments solutions will be available to local acquirers, PSPs and banks.

“Having a team of locally experienced payment experts will not only be more effective and instrumental in expanding our local presence but also better understand both the local requirements and cultural sensitivities of each markets,“ said Eddie Wong, ONPEX Head of Business Development.

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