Zhongtong Digital Technology (Hong Kong) Co., Ltd., a member company of Zhongtong Payment Co., Ltd., has officially obtained a Money Service Operator Licence from the Hong Kong Customs. This marks a critical step in Zhongtong Payment's compliance strategy within the cross-border payment sector, laying a solid regulatory foundation for its further expansion into overseas markets and the enhancement of its cross-border service system.
This development helps form a synergistic "logistics + payment" model. The MSO Licence is a statutory operating qualification issued by Hong Kong Customs under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. Licensed companies can legally conduct cross-border remittance and currency exchange services and are subject to ongoing supervision by Hong Kong Customs.
Currently, leveraging the logistics ecosystem resources of its parent company, ZTO Express Group, Zhongtong Payment has established a logistics settlement network covering countries such as Vietnam, Thailand, and Cambodia. As one of the payment institutions affiliated with a major courier company, Zhongtong Payment has been active in recent years. For instance, in December 2025, it processed its first international logistics cross-border payment transaction. In early 2026, the company received approval for a capital increase.
Simultaneously, Zhongtong Payment is deeply rooted in Nanning, Guangxi, where its company registration address and operational headquarters are located. The company is investing approximately 240 million yuan to build a Zhongtong Payment New Retail Smart Industrial Park project in the Wuxiang New District of the city, focusing on serving key regional initiatives like border trade markets and ASEAN Single Window foreign exchange payments.
Securing this license is beneficial for Zhongtong Payment's deep cultivation of overseas markets. Combined with its recent capital increase, this move not only meets relevant new payment regulations but also builds momentum for its cross-border business. It is anticipated that, post-licensing, its core strategy will involve leveraging ZTO's cross-border logistics network to establish compliant multi-currency settlement channels, achieving deep coordination between goods flow and capital flow, and upgrading from a single payment channel to a comprehensive cross-border financial services provider.
Numerous institutions are actively pursuing similar layouts. To date, several licensed payment institutions have successively obtained the Hong Kong MSO Licence. For example, third-party payment provider and HKEX-listed platform YeePay obtained the license in 2023. LianLian DigiTech entered the Hong Kong market in 2016 and successfully acquired the MSO Licence in 2017. PingPong received approval for its Hong Kong MSO Licence in 2016. Paykka, a brand under XGD Group, secured the license in 2024. The active pursuit of this license by many institutions highlights its significant value in the cross-border payment field.
The密集 acquisition of the Hong Kong MSO Licence by payment institutions results from the叠加 of compliance necessities and cross-border strategic factors. The Hong Kong MSO Licence grants institutions multi-currency clearing capabilities, allowing them to legally conduct exchange and cross-border remittance services for currencies such as HKD, USD, EUR, and offshore CNY. By leveraging Hong Kong's advantages as an international financial center, payment institutions can provide professional cross-border currency services for scenarios like cross-border trade, e-commerce, and investment, representing a crucial step in their global expansion strategy.
The wave of Chinese companies expanding overseas has generated substantial demand for cross-border settlement. Current trends in payment institution licensing show two main characteristics: first, a move towards compliance matrixization, shifting from single licenses to global compliance network layouts; second, a trend towards service ecosystem development, extending from basic payment collection and disbursement to value-added services like supply chain finance and exchange rate risk hedging.
The accelerated expansion of payment institutions into overseas markets is primarily driven by four factors: firstly, to meet the growing cross-border payment and settlement needs of Chinese enterprises; secondly, to address the diversified service demands of cross-border enterprises beyond simple payments, including fund management, investment and financing, and tax services; thirdly, due to intense competition and low fee rates in the domestic payment market, prompting institutions to actively seek a second growth curve overseas; fourthly, the accelerated internationalization of the RMB and mechanisms like the multi-central bank digital currency bridge are opening new avenues for innovation in cross-border payments.
It is recommended that payment institutions maintain a firm commitment to compliance in their cross-border expansions. They should deeply understand industrial scenarios, embedding payment capabilities into the entire trade chain. Embracing technological change to enhance settlement efficiency through digitalization is crucial, truly positioning them as financial escorts for Chinese companies going global.