Hong Kong-based fintech NOVA2PAY has been registered as a money service operator in Hong Kong for the third time since 2015.
NOVA2PAY has been committed to helping merchants improve their efficiency and value in the cross-border and financial services sectors. The company’s capabilities include payment processing for ecommerce, air tickets, conferences and exhibitions, restaurants and hotels, entertainment videos, software, education, games, and other industries.
To deliver its MSO services, NOVA2PAY has focused on researching the development needs of merchants in the cross-border consumption and entertainment fields. Leveraging this research, big data, and customer insights, NOVA2PAY develops and promotes digital payment and smart marketing technologies, provides overall solutions for local partners, merchants, and end-users, and improves the efficiency of merchants' operations.
The company has also adopted risk control and security management protocols to protect its clients. Through daily risk control management, including merchant review and access to daily transaction testing, and maintaining safety certification standards, NOVA2PAY delivers its MSO services to clients in Hong Kong and across the globe. It also achieved the certification as a global payment processor (PCI DSS Level 1) in 2015 and has maintained it.
MSOs looking to operate in Hong Kong must apply for the licence every two years and undergo an application and review process before being authorised for licencure. In the past years, regulators in Hong Kong have cracked down on fraudulent activity and made it more challenging to attain licensing, according to the press release.
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