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On July 3, 2023, RC365 Holding Plc's Hong Kong subsidiary, RCPAY Limited, signed a BIN Sponsorship and Co-Brander Agreement with Key Solution Venture Limited. This agreement allows RCPAY's brand to be printed on a Mastercard Credit Card, which can be issued to Hong Kong Residents. The agreement has an initial term of 5 years from the date the first card is issued, with an automatic extension for a further 5 years.
| Date | 3 Jul 2023 |
| Time | 12:36:44 |
| Category | Acquisitions and alliances |
| ID | 7810E |
3 July 2023
RC365 Holding Plc
("RC365" or the "Company")
Agreement with Key Solution Venture Limited
RC365 Holding Plc ("RC365"), a company focusing on payment gateway solutions and IT support, is pleased to announce that on the 3 July 2023 its Hong Kong subsidiary, RCPAY Limited ("RCPAY"), signed a BIN Sponsorship and Co-Brander Agreement ("Agreement") with Key Solution Venture Limited ("KSV"), a licensed MasterCard Worldwide Issuer in Hong Kong. This Agreement will allow RCPAY's brand to be printed on a Mastercard Credit Card which can be issued to Hong Kong Residents.
The MasterCard credit cards will be marketed through RCPAY's existing business partnerships and by a series of marketing campaigns.
The Agreement shall be for 5 years from the date on which the first card is issued and shall be automatically extended for a further period of 5 years, unless otherwise terminated by notice or for breach of the Agreement.
Chi Kit Law (Michael), Executive Director and Chief Executive Officer, said:
"This is a major milestone for RCPAY in expanding its existing service offering to its customers. We expect the card program to be launched by end of Q2 FY24 and to reach 3,000 cardholders by Q4 FY24."
For further information please contact:
|
RC365 Holding plc Chi Kit LAW, Chief Executive Officer |
T: +852 2251 1621 |
|
Guild Financial Advisory Limited - Financial Adviser Ross Andrews |
T: +44 (0)7973 839767 |