SHENZHEN, China, Sept. 3, 2021 /PRNewswire/ — Leshua Technology, a subsidiary of YEAHKA LIMITED (“Yeahka” or the “Company”, stock code: 9923.HK), partnered with American Express’ joint venture in Chinese mainland to launch acquiring business.
The partnership will enable Yeahka to handle the bank’s RMB-denominated card transactions, which offers merchants and consumers more diversified and comprehensive payment services.
In April 2015, the State Council of the People’s Republic of China issued the white paper “Access Management for Bank Card Clearing Institutions”, which marked the beginning of fully opening China’s bank card clearing market. Subsequently, a series of documents had been released and various rules and regulations were optimized, and have become more mature, setting the foundation for foreign card organizations to enter the Chinese market. In June 2020, American Express’ joint-venture became the first foreign payments network to receive a license from the People’s Bank of China to clear RMB transactions in the Chinese mainland.
Leshua Technology is a payment brand under Yeahka, a leading payment-based technology platform in mainland China listed in Hong Kong SAR, China. Leshua Technology is one of the very few third-party payment institutions which holds a nationwide bank card acquiring and mobile payment service license.
Over the years, Leshua Technology has been upgrading and innovating its terminal and bank card acquiring products, including traditional POS, smart POS, smart cashier, barcode scanner, face pay and QR code payment terminals that support various payment methods and use case scenarios, such as offline retailing, catering, insurance and real estate-related payments – anytime and anywhere across the country.
Leshua Technology indicated that it will continue to deepen cooperation with card companies, banks and other institutions. It has the capability to innovate, and provide efficient, convenient and secure integrated payment services to its customers. In addition to payment services, it will also offer multi-level smart services, such as merchant operation SaaS, digital marketing and artificial intelligence services to merchants in various industries.