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Payment Asia Introduces AI Processing Service for ESG Awareness in Hong Kong

Payment Asia, a payment solutions provider, has unveiled an AI-powered processing service in Hong Kong, offering automated merchant onboarding, AI customer service and an auto accounting system.

The automated services aim to elevate ESG standards in payment solutions and streamline operations while promoting sustainability in financial services.

By leveraging AI technology, Payment Asia boosts the merchant onboarding process, enabling real-time identity verification and data analysis, reducing onboarding time and fraud risks.

Furthermore, the integration of ChatGPT, an AI natural language model, enhances customer service by providing accurate responses and improving customer satisfaction.

Payment Asia also prioritises ESG values through its cloud-enabled accounting platform, automating expense categorisation and generating reports for cost management.

By issuing corporate cards to all staff, the company also uses AI to analyse transaction data and categorise expenses. The auto approval expense platform also generates reports for every department to track their spending, while giving guidance for cost management. AI promotes sustainability, as the company reduces environmental impact, improves efficiency, and minimises paper usage.

Paul Tang, COO of Payment Asia, highlights the company’s commitment to providing an all-in-one experience, leveraging AI to enhance operational efficiency and actualise ESG objectives.

“We are thrilled to be the first in Hong Kong to offer such a comprehensive suite of automated payment services. The use of AI can help multiply the efficiency of fintech companies.

“Our goal is to provide our customers with the best all-in-one experience. Adapting AI in our daily operation helps us to boost efficiency and turn our intentions for ESG into a workable reality.”

In April, the Stock Exchange of Hong Kong Limited (HKEX) proposed to mandate all listed companies in Hong Kong to provide climate-related disclosure in their environmental, social and governance (ESG) reports. It launched a three-month consultation over the plan.

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