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 alternative payment methods (APMs) worldwide and provide enterprise clients with localized global merchant acquiring and MoR solutions.
Empowering high-growth sectors: AI, SaaS, and gaming
Under the comprehensive framework of partnership and investment, HSBC will leverage Waffo's payment orchestration layer, modular product suite, deep compliance expertise, and rapid deployment capability to inject greater agility into its global acquiring and payment infrastructure — better serving high-growth sectors like AI, SaaS, and gaming, where global subscription billing and VAT/GST compliance are critical challenges.
Bridging the last mile in emerging markets
Waffo's platform, accessible via a unified API, spans e-wallets, QR codes, bank transfers, and Buy Now Pay Later schemes, with a particularly strong footprint in Southeast Asia, Latin America, Africa, and East Asia — where last-mile payment integration remains a critical barrier for businesses entering new markets.
“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 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, a modern platform that bridges diverse payment channels is paramount to a reliable, seamless payment experience. This investment ensures HSBC remains at the vanguard of payment infrastructure and accelerates our digital commerce footprint in new markets.”
“This partnership reflects a shared vision,” said Frankie Fan, Co-founder and CEO of Waffo. “We're excited to work with HSBC to solve the last-mile challenge of global payments — helping businesses enter new markets fast, on localized infrastructure built for speed, trust, and scale.”