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August 30, 2019

Rapyd, TNG FinTech Group strike digital payment partnership

Fintech-as-a-service platform Rapyd has teamed up with Hong Kong-based digital wallet outfit TNG FinTech Group.

The tie-up will enable Rapyd to add support for over 10 Global E-money Alliance (GEA) wallets. This includes the TNG wallet in Hong Kong.

TNG founder and chairman Alex Kong said: “Through this partnership, we are able to close the gap between markets and help create new user experiences.

“Consumers from around the world can make a purchase for any products or services either online or offline, and make payments through our GEA platform seamlessly and simultaneously without having to use their global bank account, credit or debit card.”

Users of the aforesaid wallets can make payments to Rapyd clients even on failing to have a credit or debit card or on opting to not use them during online purchases.

Rapyd vice president for Asia Pacific Joel Yarbrough said: “Our partnership with TNG enables us to not only offer our customers one of Hong Kong’s most exciting payment methods, the TNG wallet, but also the member wallets under its GEA platform.

“Now, Rapyd merchants all over the world will be able to reach out to more APAC customers through Rapyd’s simple API, SDK or Web-based Rapyd Checkout.”

Earlier this year, Rapyd raised $40m through a Series B financing round led by Stripe and General Catalyst.

Rapyd was recently also in the limelight for its tie-up with OCBC Bank on real-time mobile payments.

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