EFT Solutions entered in a MOU with Mongolbank, First Hong Kong ePayment technical partner to accelerate local digital transformation

HONG KONG SAR –
Media OutReach Newswire – 24 June 2024 –
EFT Solutions Limited (“EFT Solutions” or the “Company”), member of EFT Solutions Holdings Limited (together with its subsidiaries, the “Group”; stock Code: 8062.HK), a leading electronic fund transfer point-of-sales (“EFT-POS”) solution provider in Hong Kong, is pleased to announce that the Company entered into a memorandum of understanding (the “MOU“) with
Mongolbank, the central bank of Mongolia, to establish a business cooperation to lead the digital transformation of the financial sector in Mongolia and strengthen the interconnectivity of e-payments in different regions.

According to the MOU, the cooperation between both parties is to: (i) construct improved payment and acquire system infrastructure; (ii) establish mutual acceptance of payment cards and/or payment systems in use in Mongolia and/or Hong Kong; (iii) collaborative discussion on banking and payment system for advancement of the financial sector in Mongolia; and (iv) develop potential business model that creates mutual benefits of Mongolia and Hong Kong.

Mr. Andrew Lo Chun-kit, Chairman and CEO of EFT Solutions said, “we are honored to be the first Hong Kong partner of Bank of Mongolia in regards to ePayment technology. Together we will accelerate local digital transformation. While driving Hong Kong to become a smart city, we are also responding to the HKSAR government’s initiative in promoting the interconnectivity of e-payments across the regions. We will continue to actively explore various overseas smart city projects to seize international market opportunities.”

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The issuer is solely responsible for the content of this announcement.