Austin, Texas-based start-up Episode Six is banking on Hong Kong demand for virtual payments, SME lending
- Start-up expects to see growing demand for its virtual card payments solution and virtual account in Hong Kong, CEO says
- Asia remains E6’s largest market both in terms of revenue and accounts since its founding in 2015
“We’re seeing increasing demand for virtual card payments, which our platform is perfectly suited for,” said John Mitchell, E6’s co-founder and CEO. “We’re also seeing an increase in demand for our virtual account, and we’re expected to have growing penetration around these two products in Hong Kong throughout the rest of the year.”
“We know there’s a push from the regulators to see more innovative working capital solutions deployed to SMEs, and we have a product that takes the concept of ‘buy now, pay later’ [BNPL] but industrialises it and makes it fit for purpose for commercial banks to offer to SME customers,” Muse-McKenney said, adding that there is some “good traction” taking place in the market, and E6 is looking to officially launch the new product in the second half of this year.
BNPL is a short-term instalment loan that allows customers to make purchases and pay for them later, without being charged interest.
