in Hong Kong，Any operator engaged in money services must report toHong Kong Customs and Excise DepartmentApplication for Commissionermoney service operator(MSO) license。Operating money services without a license is a criminal offense，Once convicted，The maximum penalty is a fine of HK$100,000 and imprisonment for 6 months.。Money services coveredcurrency exchange servicesandRemittance service。
Currency exchange services refer to currency exchange services provided on a business basis in Hong Kong，However, it does not include the following exchange services incidental to the main business:：
- Transactions Accepting Foreign Currency in Retail Business；or
- The main services a hotel operator provides to guests on its premises，and only involves transactions involving the purchase of non-Hong Kong dollar currencies in Hong Kong dollars。
Hong Kong Information CommunicationsMSO licenseApplicants are provided with the following professional support：
- Preliminary review of applicant’s Hong Kong company status，Provide compliance advice on new license applications；
- Assist in arranging qualified licensees；
- Provide office space solutions；
- Coordinate with professional compliance advisors、Accountant and lawyer services；
- Hong Kong MSO LicenseCurrent license transferarrange。
Which companies need to apply for an MSO license? The following five types are applicable：
Hong Kong agent for WeChat/Alipay
becomeWeChat Pay(WeChat Pay) or Alipay’s Hong Kong agent，Holding an MSO license is a must。If the company has local industry resources in Hong Kong，such as aviation、FOOD、hotel、Chain shopping mall、Travel agency, etc.，You can apply to become an agent，Provide convenient payment methods for merchants in various industries，Earn settlement commission。2017Mainland visitors to Hong Kong reach 18.5 million annually，Per capita consumption is HK$7,010，Total consumption is approximately HK$130 billion，There is still considerable room for development of WeChat and Alipay in Hong Kong。
Cross-border paymentand fund management platform
The domestic cross-border e-commerce market is expanding rapidly。There are currently about 500,000 Chinese companies on Amazon、eBay、Wish、Shopee、Newegg and other overseas e-commerce platforms open stores，Need to solve the problem of how to transfer sales money back to Hong Kong or domestic bank accounts。The cross-border fund management platform provides payment collection and foreign exchange settlement services to these e-commerce customers.。
Advantages of Hong Kong Financial Center
By holding an MSO license，The platform can fully leverage the advantages of Hong Kong’s financial center，With competitive rates and faster delivery time，Convert USD to cross-border e-commerce customers、EUR、Remit overseas sales proceeds in pounds sterling and other items to a designated account in Hong Kong or the Mainland。Similar companies include WorldFirst、PayPal、PingPong et al.。
Wild card acquiring business
Engaged in foreign card acquiring business, you can obtain income through the exchange rate difference between currencies.，Holding a Hong Kong MSO license has become one of the common thresholds for engaging in the foreign card acquiring and settlement industry.。
Advantages of Hong Kong Foreign Exchange Center
Licensed companies are able to take advantage of Hong Kong as a foreign exchange center，Cooperate with multiple banks and foreign exchange brokers，Get a more competitive settlement rate，thereby increasing exchange rate gains。
Collection and payment company
The game payment platform is a typical collection and payment scenario.。With the popularity of overseas games and domestic agents of high-quality overseas games,，The game interface needs to integrate multiple payment tools for players，Includes PayPal、Apple Pay、Alipay、WeChat，and Europe and America、Mainstream electronic payment methods in Southeast Asia and other places。Player recharges and consumption fees collected by the platform involve multiple currencies.，If you hold an MSO license，Can handle foreign exchange settlement and collection and payment conveniently。
Other collection and payment applications include：
- Overseas advertising platform collection and payment：For cross-border e-commerce or domestic customers，Provide overseas mainstream media advertising resources，And assist in paying foreign currency advertising fees，Earn agency spread、Income from exchange differences and handling fees。
- Supply chain financial services：Provide export seller credit to upstream and downstream enterprises on cross-border e-commerce platforms、export buyer's credit、Buyout of medium and long-term receivables、Domestic insurance cross-border financing and other services，The collection and payment of foreign exchange involved in the process。
Hong Kong physical money change shop/exchange bank
Customers holding an MSO license can open physical money change shops or exchange houses in Hong Kong，Provide exchange and remittance services in different currencies for tourists and individual customers。
About Hong Kong Xintong
Hong Kong Xintong focuses onHong Kong Securities and Futures Commission license、Hong Kong Insurance Broker License、Hong Kong MSO Licenseandmoneylenders licenseApply for service，Assist customers to applyUS MSB license、NFA、RIA、Canadian MSB license、Mainstream overseas financial licenses such as Australia and Mexico，Support enterprises to achieve compliance expansion of cross-border financial business。Also availableCayman Islands Offshore Company Registration、Offshore fund establishment and global compliance operations and other services，Help enterprises expand their presence in international markets。To learn more，Please contactHong Kong Information Communications Consultant。
