Global digital payment company Visa and the government-backed Hong Kong Science and Technology Parks Corporation ( HKSTP ) have signed a memorandum of understanding establishing a strategic framework to bring Visa’s global commerce and payment innovations to Hong Kong and collaborate with the HKSTP to explore and develop new solutions across artificial intelligence ( AI ) and agentic commerce, digital payments and ecosystem engagement.
The collaboration, the organizations say, aims to address evolving needs in Hong Kong, the Greater Bay Area and wider Asia-Pacific markets, while contributing to the city's continued development as a leading international innovation and financial hub.
The collaboration responds to a rapidly evolving commerce and payments landscape driven by emerging technologies. As AI continues to reshape digital experiences and emerging concepts, such as agentic commerce, create new possibilities for how consumers and businesses discover, purchase and pay for products and services, the need for collaboration across the broader ecosystem has become increasingly important.
”Hong Kong has the talent and entrepreneurial energy to create innovations with relevance far beyond our city,” says Paulina Leong, Visa Hong Kong and Macau’s general manager. “HKSTP has built a vibrant ecosystem that gives home-grown fintechs and start-ups the environment to innovate and grow.
“Ultimately, this [partnership] is about connecting Hong Kong innovation with global opportunity and reinforcing the city’s role as a launchpad for ideas that can shape the future of commerce globally.”
Terry Wong, HKSTP’s CEO, adds: “Collaboration across industries and sectors has always been central to what we advocate. This signing represents not only a strategic partnership, but a testament, at the same time, to our expanding network in supporting the growth of tech ventures, and a reflection of our continued commitment in advancing the city’s information a and technology landscape.”
