Core Insights - PingPong has announced its partnership to become one of the first Asian payment companies supporting Wero, a new European payment service set to launch in October 2023 [1] - Wero aims to unify and streamline digital payments across Europe, addressing the fragmented payment landscape where different countries rely on various payment tools [1] - The service is expected to enhance cross-border payment efficiency and reduce costs, benefiting businesses looking to expand in the European market [1] Company Summary - PingPong will provide immediate access to Wero's services for businesses once it launches, allowing them to reach 250 million users in Europe [1] - The collaboration positions PingPong strategically in the European market, facilitating faster payment solutions for enterprises [1] Industry Summary - Wero is developed by a consortium of 16 leading European banks and financial institutions, marking a significant step towards a cohesive payment system in Europe [1] - The initiative is designed to improve the current state of personal-to-person (P2P) instant transfers, which have already seen widespread adoption [1]

Core Insights - The article highlights the increasing trend of payment institutions obtaining overseas licenses to expand their operations in international markets [2][4][7] - Companies like YeahPay Japan and PingPong are leading this movement by securing important payment licenses in Japan and the UAE, respectively [2][4][6] Company Developments - YeahPay Japan has received approval from Japan's Ministry of Economy, Trade and Industry to conduct online and offline QR code payment processing [4] - PingPong has announced it has obtained payment licenses from both the Central Bank of Malaysia and the Central Bank of the UAE, making it the first Chinese third-party payment institution to hold these licenses [4][6] - Airwallex has successfully acquired a payment license from Brazil's central bank and completed a strategic acquisition of MexPago in Mexico, enhancing its presence in Latin America [5] Industry Trends - There is a notable shift among payment institutions towards international expansion due to increasing domestic competition and higher profit margins in cross-border payments [2][7] - Industry experts suggest that obtaining licenses in core markets such as Europe, Southeast Asia, and the Middle East is crucial for building competitive advantages and ensuring compliance [8] - The article emphasizes the importance of localizing operations by establishing subsidiaries and collaborating with local financial institutions to mitigate political risks [8]

Core Viewpoint - The payment industry is experiencing a competitive race for global licenses and local compliance capabilities as domestic markets face saturation, prompting companies to expand overseas [1][5]. Group 1: Company Developments - Yika announced that its wholly-owned subsidiary YeahPay Japan received approval from the Japanese Ministry of Economy, Trade and Industry, allowing it to conduct online and offline QR code payment services in Japan [3]. - Since exploring overseas markets in 2021, Yika has obtained various payment licenses, including those from Hong Kong, Singapore, and the United States, marking significant progress in its global payment strategy [4]. - Yika's overseas transaction volume is projected to exceed 1.1 billion RMB in 2024, reflecting a nearly fivefold year-on-year growth [4]. Group 2: Industry Trends - The domestic third-party payment market is becoming increasingly saturated, leading many companies to seek growth opportunities abroad [5]. - Competitors like PingPong and LianLian have also accelerated their overseas expansion, with PingPong acquiring over 60 global payment licenses and LianLian establishing a network of 65 licenses across multiple regions [5][6]. - The trend of "first obtaining licenses, then expanding into markets" is widely recognized among payment institutions to mitigate regulatory risks [8]. Group 3: Market Challenges - Despite the growing demand for payment services driven by cross-border e-commerce, companies face significant challenges, particularly in compliance and local market adaptation [9]. - The competitive landscape is intensifying, with many players entering the market, leading to product and service homogenization [9][10]. - Companies must enhance their service quality, innovation capabilities, and local partnerships to succeed in the increasingly competitive overseas markets [10].

Core Viewpoint - The article highlights the significant expansion of Yika's overseas business, particularly its recent achievements in Japan, which enhance its global payment capabilities and compliance standards [2][3]. Group 1: Overseas Business Expansion - Yika's subsidiary YeahPay Japan has received approval from Japan's Ministry of Economy, Trade and Industry to operate as a "credit card number contract business operator" under Japan's Installment Sales Act, marking a crucial step in its international expansion [2]. - This approval follows Yika's acquisition of the Money Transmitter License in the United States, indicating a strategic focus on obtaining payment licenses in various countries to facilitate global operations [2][3]. - The company aims to leverage its established local sales and product teams in Japan to enhance services for brand clients on international platforms like Xiaohongshu and Dazhongdianping [3]. Group 2: Financial Performance and Growth - Yika's overseas business is projected to achieve a transaction volume exceeding 1.1 billion RMB in 2024, reflecting a nearly fivefold year-on-year growth, showcasing its strong market expansion capabilities and high customer acceptance [3]. - The company has diversified its client base across various industries, including automotive, luxury goods, and entertainment, with notable clients such as Clinique, Arabica, Bose, and Leica [3]. - Yika plans to enhance its commercial capabilities by improving synergies across different business lines, aiming to provide comprehensive digital business empowerment solutions to merchants across multiple regions [4].

Core Viewpoint - The announcement of YeahPay Japan obtaining payment qualifications in Japan marks a significant expansion of the company's global payment footprint, enhancing its ability to provide efficient payment services to customers [1][2]. Group 1: Regulatory Achievements - YeahPay Japan has received approval from Japan's Ministry of Economy, Trade and Industry, allowing it to operate as a "credit card number contract conclusion business operator" under the Installment Sales Act, and has obtained the AOC compliance certificate [1][2]. - This recognition reflects the Japanese regulatory authorities' acknowledgment of the company's product services, data compliance, and consumer rights protection [2]. Group 2: Business Expansion and Strategy - The company aims to leverage its existing business foundation and collaborate with Shenzhen Fushi Technology Co., Ltd. to enhance localized sales and product teams in Japan, facilitating the promotion of local life and in-store e-commerce services on international platforms [2]. - Since exploring overseas markets in 2021, the company has actively applied for various licenses, including those in Hong Kong, Singapore, and the United States, to accelerate its overseas payment license layout [2]. Group 3: Financial Performance and Growth - The company has launched various services globally, including local wallets, overseas wallets, credit cards, joint collection, foreign exchange, and cross-border remittances, effectively expanding its client base across diverse industries [3]. - In 2024, the company's overseas business transaction volume exceeded 1.1 billion RMB, representing a nearly fivefold year-on-year growth, indicating strong market expansion capabilities and high customer recognition [3]. - The company plans to enhance its commercial capabilities by improving synergies across different business lines, providing a one-stop digital business empowerment solution for merchants across various regions [3].

Core Viewpoint - The announcement by the Hong Kong-listed company Yika (9923.HK) regarding its subsidiary YeahPay Japan receiving approval from the Japanese Ministry of Economy, Trade and Industry marks a significant expansion in Yika's global payment capabilities, allowing it to conduct online and offline payment services in Japan [1] Group 1 - Yika's subsidiary YeahPay Japan has been registered as a "credit card number contract conclusion business operator" under Japan's Installment Sales Act [1] - The company has also obtained global security standard certification from the Payment Card Industry Security Standards Council, along with the relevant AOC compliance certificate [1] - This development follows Yika's acquisition of the Money Transmitter License in the United States, indicating a strategic expansion of its payment qualifications in different countries [1] Group 2 - The new payment qualifications in Japan will enhance Yika's ability to provide more convenient and efficient payment services to its customers [1] - The expansion is expected to create strong synergies with other overseas payment licenses held by the company [1]

Core Viewpoint - The recent removal of adult games from Steam has broader implications for the gaming industry, highlighting the influence of payment processors on content availability and developer survival [1][10][21]. Group 1: Steam's Actions - Steam has historically maintained strict controls over adult content, but the recent mass removal of games was unexpected and extensive [1][2]. - Following the removals, developers began altering game titles to avoid being flagged [2][3]. - On July 16, Steam updated its guidelines to include a new rule that requires compliance with the standards set by payment processors like Visa and Mastercard [10][11]. Group 2: Collective Shout's Influence - The organization Collective Shout claimed responsibility for the pressure on Steam, leveraging its influence to impact payment processors [3][5]. - Collective Shout has a history of successfully advocating against games perceived as promoting violence against women, such as GTA5 [5][21]. - The organization sent over 1,000 emails to credit card companies, arguing that certain games normalize abuse and exploitation, which pressured these companies to act against Steam [7][8]. Group 3: Payment Processors' Role - Payment processors are primarily concerned with risk management and brand protection, leading them to distance themselves from adult content [14][19]. - The lack of clear standards from payment processors means that game removals can appear arbitrary, influenced by public outcry rather than consistent criteria [21][26]. - The situation raises concerns about the power of payment processors to dictate what content is available to consumers, potentially leading to broader censorship [21][26]. Group 4: Community Response - Players have begun to organize against the influence of payment processors, with petitions gathering around 200,000 signatures, significantly outnumbering Collective Shout's support [28][31]. - The International Game Developers Association has called for greater transparency and fairness in content moderation, though its impact remains uncertain [35][37]. - The ongoing situation reflects a growing discontent with the power dynamics between content creators, platforms, and payment processors, suggesting potential future shifts in the industry [37].

Core Viewpoint - WeChat Pay has adjusted its withdrawal fee structure, lowering the minimum fee from 0.1 yuan to 0.01 yuan while maintaining a rate of 0.1%, marking the entry into a "fraction" era for withdrawal fees. This change reflects a focus on user retention and a shift towards "refined charging" in the payment industry [1][4][9]. Fee Structure Changes - The new rule states that after the free withdrawal limit is exhausted, a service fee of 0.1% will be charged on the excess amount, with a minimum fee of 0.01 yuan for transactions that would otherwise incur a fee lower than this threshold [3][4]. - Previously, users faced a minimum fee of 0.1 yuan for any withdrawal, which disproportionately affected those making small withdrawals. The new structure allows for a more equitable fee system, especially benefiting users withdrawing smaller amounts [4][5]. Target User Groups - The primary group affected by this adjustment is high-frequency small withdrawal users. The change is expected to increase the frequency of small withdrawals and reduce the tendency to clear out balances, encouraging users to keep funds within the WeChat ecosystem [6][8]. - The adjustment is seen as beneficial for both users and the platform, enhancing user satisfaction and brand loyalty while also aligning with the platform's commercial logic of focusing on user financial behaviors [6][8]. Industry Context - The adjustment is part of a broader trend in the payment industry towards refined service models, moving away from large-scale competition to more tailored services. This shift is evident when comparing WeChat Pay's model to that of Alipay, which offers a higher free withdrawal limit but less favorable minimum fees for small transactions [8][9]. - Analysts suggest that WeChat Pay's strategy is to leverage its social connectivity to solidify its user base in small, frequent transaction scenarios, while Alipay is focusing on attracting larger fund users through enhanced financial services [8][9]. Recommendations for Improvement - To further enhance user experience, it is recommended that WeChat Pay increase fee transparency by clearly communicating fee structures and potential savings during the withdrawal process. This could help mitigate user resistance stemming from information asymmetry [9][10]. - Additionally, the platform could negotiate with banks to pass on cost savings to users, potentially implementing tiered fee discounts for high-frequency small withdrawal users, optimizing costs for both the platform and its users [10].

Core Viewpoint - Yike Card (9923.HK) has successfully registered as a "credit card number contract business operator" under Japan's "Installment Sales Act," marking an expansion of its global payment footprint [1] Group 1: Business Expansion - Yike Card's wholly-owned subsidiary, Yeahpay Japan Limited, received official approval from Japan's Ministry of Economy, Trade and Industry [1] - This approval allows the company to conduct online and offline QR code payment processing in Japan, significantly enhancing its operational capabilities in the Japanese payment market [1] Group 2: Compliance and Certification - The company has successfully passed the Payment Card Industry Data Security Standard (PCI DSS) certification, which is essential for handling credit card data from major brands like Visa, Mastercard, and American Express [1] - The achievement of the Attestation of Compliance (AOC) certificate underlines the company's commitment to global security standards [1] Group 3: Strategic Partnerships - Yike Card plans to leverage its existing business foundation and collaborate with Shenzhen Fushi Technology Co., Ltd. to utilize local sales and product teams established in Japan [1] - The company aims to expand its payment and value-added service offerings by utilizing its experience in promoting local life and in-store e-commerce services on international platforms like Xiaohongshu and Dazhong Dianping [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 YEAHKA LIMITED 移卡有限公司 基於現有業務基礎，我們與投資企業深圳市富匙科技有限公司將充分發揮在日本 已建立的本地化銷售和產品團隊優勢，以及現有幫助品牌客戶在小紅書和大眾點 評海外版等國際平台推進本地生活和到店電商服務的業務經驗，逐步拓展更多支 付及增值服務場景。通過提升不同業務線間的協同效應，我們將進一步強化當地 的商業化能力，為更多國家以至跨地區的商戶提供一站式數字化商業賦能解決方 案。 1 本公告所載資料可能會更改或調整。因此，本公司股東及潛在投資者請勿過度依 賴上述資料，且在買賣本公司證券前務請審慎行事。 承董事會命 移卡有限公司 主席 劉穎麒 （於開曼群島註冊成立的有限公司） （股份代號：9923） 自願性公告 業務發展 移卡有限公司（「我們」或「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，我們 的日本全資子公司Yeahpay Japan Limited已依據日本《割賦販 ...