HSBC has entered into a strategic partnership and completed an equity investment in Waffo, a global payment technology provider. The move is designed to accelerate the deployment of next-generation Alternative Payment Methods (APMs) and provide enterprise clients with localized merchant acquiring solutions worldwide.
Under this comprehensive framework, HSBC will leverage Waffo’s proprietary orchestration layer and modular product suite to inject greater agility into its global acquiring and payment infrastructure. The collaboration aims to better serve high-growth sectors like AI, SaaS, and gaming, where global subscription billing and VAT/GST compliance are critical.
The investment marks a significant pivot in the evolution of cross-border financial plumbing. By integrating Waffo’s deep compliance expertise and rapid deployment capabilities, HSBC is positioning itself to help clients unlock growth in fragmented markets through seamless localized checkout experiences. Waffo’s platform, accessible via a unified API, currently supports over 430 local payment methods—ranging from e-wallets and QR codes to Buy Now, Pay Later (BNPL) schemes—across more than 50 countries. The fintech’s footprint is particularly strong in emerging markets across Southeast Asia, Latin America, Africa, and East Asia, where "last-mile" payment integration remains a critical barrier to scaling. "We are delighted to announce this partnership with Waffo," said Lewis Sun, Global Head of Domestic and Emerging Payments at HSBC. "Together, we are building a scalable, compliant, and resilient ecosystem. This collaboration is a vital piece of the puzzle for HSBC’s Omni-collect solutions, strengthening our Digital Merchant Services (DMS) infrastructure to ensure seamless integration and superior service delivery." Louisa Zhang, Head of HSBC Ventures, Asia, added: "As businesses go global, the demand for a modern platform that can bridge diverse payment channels is paramount. This investment ensures HSBC remains at the vanguard of payment infrastructure, accelerating our digital commerce footprint in untapped markets." Frankie Fan, Co-founder and CEO of Waffo, noted that the partnership reflects a shared vision to solve the "last-mile" challenges of global commerce. "By combining speed and trust with scalable infrastructure, we are empowering enterprises to enter new markets with confidence," he said.