To launch Mastercard Commercial Credit Card to help businesses better navigate market volatility

HONG KONG,Nov. 11,2024 --PhotonPay announced that it has become a Mastercard issuer in Hong Kong. The two parties will integrate their respective professional capabilities and resource advantages and work together to provide global enterprises with more efficient and low-cost payment card products to help improve the global business-to-business (B2B) payment experience.In partnership with Mastercard,PhotonPay will also launch the Mastercard Commercial Credit Card in November 2024 — a commercial solution tailored to meet the needs of businesses operating in an increasingly globalized digital marketplace.

With the acceleration of economic globalization and digitalization,PhotonPay is keenly aware that increasingly diverse consumption scenarios—from advertising,platform rentals,product procurement to warehousing and logistics,air travel and hotels,etc.—make global enterprises pressingly demand safer and more efficient cross-border payment solutions. However,traditional wire transfers and bank transfer methods are no longer able to meet this need due to their low efficiency,cumbersome procedures and high costs.

As a leading global payment platform and digital financial infrastructure provider,PhotonPay continues to apply for licenses globally and build a regulatory compliance framework through financial technology innovation while striving to create integrated payment solutions. The company's services cover global accounts,global card issuance,global acquiring,global distribution,exchange management and embedded finance,etc. PhotonPay is deeply involved in global trade activities of multiple industries such as international logistics,online air travel agencies,digital marketing and app globalization,fully empowering enterprises to succeed in their global digital transformation.

The new Mastercard Commercial Credit Card is designed to help businesses better navigate market volatility through foreign exchange rate hedging,providing savings on overseas transactions and allowing businesses to make payments globally wherever Mastercard cards are accepted. By leveraging Mastercard's technology,businesses can generate and issue virtual cards instantly,paying global expenses directly from their PhotonPay multi-currency account,thereby eliminating unnecessary foreign exchange conversion fees.

Providing real-time insights into spending patterns,PhotonPay's built-in expense management features allow businesses to automate tracking and categorizing expenses and move away from manual processes that sap time and distract team members from their core jobs. As a Mastercard issuer in Hong Kong,PhotonPay aims to deeply integrate its digital platform and product ecosystem with Mastercard's global network to achieve synergy and interoperability of global payment data. It also seeks to further expand payment scenarios,tackling the pain points faced by enterprises arising from slow timeliness and high costs in the payment process. In turn,more convenient card payment products can help companies achieve global business growth.

Lewison Chen,CEO of PhotonPay,said,"This is an important milestone for PhotonPay. We are pleased to join hands with Mastercard. Its global coverage and multi-currency transaction capabilities will further enrich our product line. In the future,we will continue to provide global enterprises with more flexible and agile one-stop digital payment solutions that make use of our digital financial infrastructure."

Helena Chen,Managing Director,Hong Kong & Macau,Mastercard,"Mastercard's strategic partnership with PhotonPay as an issuer in Hong Kong leverages Mastercard's global network and multi-currency capabilities,delivering efficient and cost-effective payment solutions to businesses worldwide. Furthermore,Mastercard is delighted to see PhotonPay launch the new Mastercard Commercial Credit Card,which demonstrates our commitment to fostering global economic growth,providing businesses with essential tools to thrive in today's digital-first world."

PhotonPay has become a Mastercard issuer in Hong Kong and will launch the Mastercard Commercial Credit Card to meet the needs of businesses operating in an increasingly globalized digital marketplace. Helena Chen,Hong Kong & Macau,Mastercard (Left) and Lewison Chen,CEO of PhotonPay (Right)

About PhotonPay

Founded in 2015,PhotonPay is a digital financial infrastructure providing global cash management services to businesses. Our innovative core products include Global Accounts,Card Issuing,Online Payments,Payouts,FX Management and Embedded Finance. PhotonPay has become a Mastercard issuer in Hong Kong and the fintech card issuer in the Greater China region of Discover® Global Network.

With a strong compliance culture and technological innovation capabilities,PhotonPay is building a digital payment network to take the friction out of global payments and enhance operational efficiency for businesses operating on a global scale.

Headquarters in Hong Kong and providing localized services through eight international offices,PhotonPay partners with a network of top-tier banks and global financial institutions and serves more than 200,000 enterprises globally.

www.photonpay.com

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers,we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices,making transactions safe,simple,smart and accessible. Our technology and innovation,partnerships and networks combine to deliver a unique set of products and services that help people,businesses and governments realize their greatest potential.

www.mastercard.com