Visa and Hong Yip join hands to expand property payment options with proptech

Visa has joined hands with Hong Yip Service Company, an innovative property and facilities management company, to empower over 100,000 residents at more than 100 residential complexes with the option to pay for their property management fees with Visa.

Through this partnership, Visa will support Hong Yip in debuting digital payments on Hong Yip’s SoProp mobile app, a self-developed application that provides real-time information and estate notices, and facilitates the booking of clubhouse and estate activity for its residents through an all-in-one customer touchpoint.

This comes as Visa realises in the property sector, providing digitalised payments is a core component of a seamless journey. According to Visa’s Consumer Payment Attitudes Study 4.0: Payments Outlook, with the boom in multiple payment methods and introduction of new technologies, more than two-thirds of consumers expressed that they wish to use any payment option regardless of merchant and ticket size.

To celebrate the collaboration, eligible Visa cardholders will be able to enjoy a cashback offer on their Visa card upon paying cumulative property management fees via the SoProp mobile app from 1 April to 31 July. To enjoy the rewards, Hong Yip’s residents can now download the SoProp mobile app to settle their property management fees after binding their Visa card to the app.

This card-linked offer is fortified by Cybersource’s payment acceptance solutions and powered by Visa Loyalty Platform Services (VLPS), one of Visa’s loyalty solutions that enhance the ability of partners to engage their customers through cashback rewards and supports the building of a digital ecosystem. Leveraging Visa’s solutions and network, merchants can easily create and maintain lasting relationships with their consumers.

Melissa Goh, head of merchant sales and acquiring, Visa Hong Kong and Macau, said: “Enabling digital payments for Hong Yip and supporting its building of a mobile-first customer service ecosystem testifies to our commitment to enhancing Hong Kong’s digital economy.”

She added that Visa’s vision is to contribute to an inclusive payment network where consumers can conveniently make everyday transactions anywhere, not only limited to property management, but also in the sectors of transportation, quick service restaurants, education and beyond. “We are ready to continue empowering payment acceptance for partners and merchants via our global trusted network that connects and uplifts economies across the world,” she added.

Alkin Kwong, chairman and chief executive, Hong Yip Service Company, said: “With the rise of digitalisation, we have been constantly exploring options to elevate our residents’ quality of life with a technology-enabled and mobile-first customer service ecosystem. Launching in-app digital payments with Visa is an integral step in moving our users towards a seamless one-stop property management experience. Sharing our parent company Sun Hung Kai Properties’ core value of ‘Building Homes with Heart’, we are committed to delivering professional and premium quality services to our customers. As a champion of proptech, we look forward to bringing new innovations and services to our customers with trusted partners such as Visa.”

MARKETING-INTERACTIVE has reached out to Visa for additional information. 

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