PayPal is strengthening its presence in Hong Kong with the appointment of Soon Sze Meng as its new senior director and general manager for Hong Kong, Taiwan and Korea.
In his new role, Sze Meng will focus on expanding PayPal's market share in the domestic market. The company has been pursuing growth in the region, and was recently one of the companies to receive a stored value facilities (SVF) license by the Hong Kong Monetary Authority (HKMA).
Sze Meng will also aim to build on the growth of e-commerce in Hong Kong and PayPal's own cross-border business.
He has extensive experience in marketing, strategy and business development across a number of industries, including digital payments.
“This is the tenth year anniversary of PayPal in Hong Kong and over the years, PayPal has built a solid reputation amongst merchants, customers and even with government bodies as a trusted, safe and quick online and mobile payment platform,” Sze Meng said.
“I look forward to engaging with local Hong Kong businesses to help them navigate through the fast-changing payment innovations so that they can tap on the consumer growth opportunity. What sets us apart from the competition are the innovative PayPal solutions that cater to the evolving customer needs.”
PayPal's recent Hong Kong expansion efforts also included the launch of PayPal.Me for business in the market last year. The service allows small businesses or social sellers to request and receive payments using a personalized unique link, connected to the receiver's PayPal account.