Optal Asia, a wholly owned subsidiary of e-money provider Optal, has become a principal member of MasterCard in Hong Kong.
Following the deal, Optal Asia – which also holds a Money Service Operator’s license in Hong Kong – will issue MasterCard branded payment products in the region. Optal is also a principal member of MasterCard in the UK.
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Optal managing director Rob Bishop said: "Securing this licence is important to support our global growth aspirations. There is already very strong demand for our virtual card solutions in the Asian region.
"Having this licence enables us to broaden our service offering and to create new, bespoke payment solutions for the Asian region."
Optal owns a 23.5% stake in travel payments company eNett International. Optal Financial, the UK unit of Optal, operates as a virtual card issuer in Europe and facilitates business-to-business payments.
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