Outdated financial methods cost SMEs $160,000 annually

To help solve the issue, KPay launched a unified pay-in/pay-out platform for SMEs.

SMEs in Hong Kong spend over 2,298 hours annually on outdated financial management methods, leading to an average annual operating cost of $160,000 per SME, KPay reported.

In response, KPay launched Hong Kong’s first unified pay-in and pay-out platform for SMEs.

Through this platform, SMEs can access a one-stop solution for payment collection, bill management, reconciliation, T+0 settlement, and financial data analysis that can reduce manual errors by up to 90%.

The new platform also offers fast international transfers via an infrastructure powered by Airwallex, allowing SMEs to manage bills efficiently and facilitate smoother pay-ins and pay-outs. Access to these facilities can be set up within 48 hours.

In addition, the platform features a “Connect to Bank” function that allows merchants to manage business performance anytime, anywhere.

KPay serves over 33,000 merchants across Hong Kong, Singapore, and Japan.

Follow the link for more news on

fintech startup

Also Read

HKMA keeps base rate at 5.75%

Paragon Capital appoints Arthur Fong as CEO, Faye Ng as COO

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit