EFT Solutions has been recognized by APAC CIOOutlook Magazine as the recipient of “Top Retail Solution Companies,” based on our proprietary methodology, reflecting its position in the industry. This profile has been developed by the APAC CIOOutlook research and editorial team based on insights from an interview with Andrew Lo.

EFT Solutions
The Right Blend of Solutions for Every Payment Need

Andrew Lo, Chairman & CEO

Point-of-sale (POS) devices might be those small and simple devices no one much gives a thought about, but they are more than what meets the eye. Small, but they play an important role in the retail industry going digital and when omni-channel is what everybody talks about. Nonetheless, as mentioned, they are more than what meets the eye. Apart from its basic function, a POS device needs to fit into a retailer’s unique business environment and must conform to the environment’s unique needs. And finding the right answer to a given business case, entwining the right hardware and right software, is not a walk in the park. Hong Kong-based EFT Solutions is an expert in that matter. The firm is a value-added partner of the world’s top two EFT-POS terminal and peripheral device manufacturers and an authorized service provider for three of the top five EFT-POS terminal manufacturers (Ingenico, Verifone, and PAX Technology Limited). It is also a major EFT-POS System Support Service provider in Hong Kong, with the expertise to have provided support services for approximately 47,000 terminals by 2016.

The biggest reasons undergirding EFT Solutions’ dominance in the market are not just a strong team with strong technical skills and know-how and the products it brings to the market. It is one of those companies that is aligned to a market right from its core. EFT Solutions’ founder and CEO, Andrew Lo, has a rich history of over two decades in the industry dotted my many distinctions.

He was a key participant in the development of VISA Cash and Mondex right in his maiden year (1996); Ingenico’s first Chinese programmer in the Asia Pacific region and later General Manager of their Hong Kong branch; Technical Director at Ingenico in charge of electronic payment solution development for New York’s taxi industry; Head of Merchant Business of Hang Seng Bank overseeing the development of enJoy card that supports VISA PayWave card payment function. “My firm is like the link between EFT-POS terminal manufacturers and acquirers. From the sourcing of EFT-POS terminals and peripheral devices to their installation, ongoing maintenance, and repair and other related services we help merchants and acquirers to procure the suitable blend of hardware and software that suits their unique payment needs. We also provide intelligent vending machines with a variety of payment methods to bring merchants smart and convenient solutions to enhance their operational efficiency.”

The company also develops customized software as well as services which comply with electronic payment standards acceptance certification and streamline data gathering and enhance the payment process and operation flow of its customers. Its experience in the electronic payment industry and well-established business relationships with terminal and peripheral device manufacturers, financial institutions, banks, and relevant technology companies grant it a strong position in the market, allowing it visibility into latest regulations, trends, and technical innovations. “This allows us to optimize our MobiCloud system and services effectively and continually realign ourselves to evolving industry standards and technical enhancements.”

Out of many successful cases of deploying mobile payment solutions, Andrew points towards the company extending its solutions and services in Mass railway transit, which will facilitate people and popularize the practice of mobile payment in Hong Kong. Other than that, the system they are now using for all mobile payment is named as MobiCloud System. It serves as a Software as a service(SaaS). This is an AI system which can integrate retail business towards mobile payment. It definitely a crush to retail business and lead Hong Kong to a new retail era. Andrew concludes by saying, “We will continue providing comprehensive solutions and services including MobiCloud System services, payment gateway, mobile app, CRM, and POS systems that solve the trouble for an acquirer to select the operating system and payment services.”

EFT Solutions News

EFT Solutions participated in the Hong Kong International Innovation and Technology Exhibition and introduced the latest payment terminals to promote Hong Kong's transformation into a smart city.

Hong Kong: EFT Solutions International Holdings Limited ("EFT Solutions" or the "Company" and its subsidiaries: the "Group"; stock code: 8062.HK) announced that it will participate in Asia’s annual innovation and technology event - the Hong Kong International Innovation and Technology Exhibition. The exhibition will be held at the Hong Kong Convention and Exhibition Center from now until April 16. EFT Solutions has a booth at the venue (Location: Exhibition Hall 3E, A11). This year's theme is "Smart Innovation Connects the World" to showcase the company's latest technologies to the industry. To help promote local smart city development.

As the "new retail era" unfolds, different industries are accelerating their digital transformation, and the application scenarios of local electronic payment tools are increasing rapidly. EFT Solutions also took the lead and introduced different latest models of electronic payment terminals to support more comprehensive electronic payment functions such as QR codes, credit cards, and touch NFC to cater to the needs of the industry and consumers. Lao Junjie, Chairman and Chief Executive Officer

of EFT Solutions, said: "The Group firmly believes that 'walletless' is the general trend of the market, and has been committed to research and development and providing different technical support. At the same time, it actively uses its own experience to assist customers in digital transformation and create a digital transformation for the public. More electronic payment scenarios will help Hong Kong become a "smart city" in many aspects."

The publisher takes full responsibility for the content of this announcement

JUNMENG INTERNATIONAL HOLDINGS LIMITED

Junmeng International (stock code: 8062) has been committed to providing new and comprehensive electronic payment solutions, supporting software and supporting equipment to bring a high-quality and convenient lifestyle to Hong Kong people. Junmeng International also provides the most suitable electronic payment terminal solutions for different large customers, and adds special functions to the electronic payment terminals, coordinating the installation engineering coordination and maintenance services of the terminals, so that merchants can benefit from the most convenient payment solution software. Hardware combination. Junmeng International's electronic payment terminal services cover well-known catering groups, railway companies, banks, large chain stores and department stores in Hong Kong.