RD Wallet Scores SVF License From Hong Kong Regulatorby Fintech News Hong Kong December 20, 2022
RD Wallet Technologies, a Hong Kong-based e-wallet operator offering payment services to corporates, announced that it has been granted the Stored Value Facility (SVF) license by the Hong Kong Monetary Authority (HKMA).
The company was set up by Norman Chan, its current Chairman, after he stepped down as the Chief Executive at HKMA in 2020.
RD Wallet is a B2B electronic payment platform which will facilitate cross-border trade as it supports currencies commonly used in regional trade.
According to RD Wallet, it will be announcing the launch of its services for corporate customers soon.
Norman Chan, Chairman of RD Wallet said,
“After two years of hard work and preparation, we are pleased that RD Wallet has now been granted the license and is ready for business launch. By making use of the latest technologies to address the longstanding pain points of SMEs, such as difficulties in bank account opening and inefficient cross-border payment, we hope to be able to contribute to Hong Kong’s position as Asia’s trade and settlement hub.”
Daniel Tian, Chief Executive Officer of RD Wallet said,
“The grant of the SVF license is an important milestone that enables us to achieve our mission of delivering a safe and customer-centric e-wallet platform for SMEs. Through the application of advanced technologies, RD Wallet offers numerous cutting-edge payment and ancillary functions. We look forward to launching the RD Wallet soon to provide quality and efficient payment services to SMEs.”