Hong Kong’s local acquiring landscape is undergoing significant modernization, underpinned by structural innovation:
- Real-Time Cross-Border Merchant Settlement Payment Connect, linking FPS and IBPS, enables merchants to instantly receive cross-border payments, improving liquidity for billing, education, or services platforms.
- HSBC Joins CIPS as Direct Participant This facilitates offshore RMB settlements directly to merchants, boosting Hong Kong’s positioning as an offshore RMB hub.
- Stablecoin Licensing Initiatives Take Shape The formation of Anchorpoint Financial (via SCB, Animoca, and HKT) aims to issue HKD-backed stablecoins—potentially opening new methods for merchant settlement.
- Card Payment Market Expansion With projected growth of 11% in 2025 and a transaction volume of USD 1.5 trillion, the demand for both physical and virtual card acquiring remains strong.
Why Acquiring Matters for Businesses
These developments make acquiring services pivotal for merchants by:
- Streamlining Cash Flow: Multi-currency, unified acquiring enables faster settlements.
- Enhancing Customer Experience: Seamless checkout and accurate reconciliation.
- Enabling Flexible Payments: Success across e-commerce, POS, and subscription services.
DogPay: Empowering the Next-Gen Merchant Acquiring
Amid this transformation, DogPay offers cutting-edge support to merchants:
- Hybrid Stablecoin & Fiat Receiving Channels: Enabling seamless cross-border payments.
- API-Based Acquiring Solutions: Easy integration into merchant platforms, subscriptions, and POS systems.
- Compliance and Security Built-In: Backed by licensing, risk control, and transparent APIs.
With Hong Kong’s infrastructure advancing, DogPay is helping businesses leverage the full potential of global acquiring—making payments simpler, faster, and smarter.
