HONG KONG, Sept. 19, 2023 /PRNewswire/ — Payment Asia, the leading payments solution provider in APAC region, is proud to announce that Paul Tang, its Chief Operating Officer (COO), has joined the Hong Kong Money Service Operators Association (MSOA) as a member of Board of Directors and Professional Advisor. In his role, Paul will dedicate his expertise and resources to advocate for anti-money laundering initiatives and collaborate with regulators, including the Hong Kong Customs, Excise Department, and the Hong Kong Police Force, to build a robust association.
The Hong Kong MSOA serves as a collective voice for money service operators in the city. Its primary objective is to promote the interests of its members while ensuring they adhere to strict regulatory standards, particularly in the area of anti-money laundering (AML). The appointment of Paul Tang as a Director further strengthens MSOA’s commitment to combatting financial crimes and fostering a secure and transparent financial ecosystem.
Paul Tang brings a wealth of experience and knowledge to his role as a Director of MSOA. With decades of experience in the payments industry, including his current position as COO of Payment Asia, Paul has a deep understanding of the challenges and opportunities that money service operators face. His expertise in compliance, risk management, and fraud prevention will be instrumental in driving MSOA’s initiatives and furthering its mission.
"I am honored to join the Hong Kong Money Service Operators Association as a member of the directors and professional advisor," said Paul Tang, COO of Payment Asia. "Together, we will build a strong association that fosters trust, transparency, and integrity in the financial industry."
Furthermore, MSOA members recently participated in an anti-money laundering seminar organized by Hong Kong Customs. The seminar focused on the specific requirements and best practices for employment agencies of foreign domestic helpers. By attending this seminar, MSOA members demonstrated their commitment to staying updated on the latest AML regulations and ensuring compliance within their respective sectors.
"We are proud of our MSOA members for actively participating in the anti-money laundering seminar organized by the Hong Kong Customs and Excise Department," said Paul Tang. "This initiative highlights our collective dedication to combatting financial crimes and upholding the highest standards of integrity and transparency within the money service operator industry. We will continue to collaborate closely with regulators and industry stakeholders to foster a secure and compliant financial ecosystem."
About Payment Asia
Established in 1999, Payment Asia has been committed to providing innovative online payment technology, and electronic payment solutions for SME enterprises and even multinational companies in Asia. Payment Asia prepares simple and time-saving online payment systems for customers, covering credit cards, debit cards, e-wallets, and tailor-made omnichannel payment solutions including crypto gateway for enterprises. In the past 10 years, we have actively innovated and added elements such as digital marketing, e-commerce solutions, and consulting to our business to meet the needs of merchants. Payment Asia has developed rapidly and has served more than 10,000 local and overseas merchants.
The Hong Kong Money Service Operators Association (MSOA) aims to represent and protect the interest of money service operators, maintain communication with governmental departments, strive to assist Hong Kong to align with requirements set out by international organizations, and at the same time provide members a platform to share market information and experience as well as to provide workshops and seminars on relevant law and regulations for working and non-working force.