Macau Pass, Along With Twelve Asia-Pacific Fintech Companies, Joins the Sirius initiative, Aiming to Support the Sustainable Development of SMEs.

Macau Pass, Along With Twelve Asia-Pacific Fintech Companies, Joins the Sirius initiative, Aiming to Support the Sustainable Development of SMEs.

• 13 mobile payment tools and digital platforms, including MPay, pledge to promote local small and micro enterprises (SMEs) to participate in sustainable development programs.

Programme SIRIUS (Sustainability Innovation for Regenerative Inclusive Purpose), supported by 13 Asia-Pacific fintech leaders at its inaugural launch, was unveiled to empower Micro, Small, and Medium-Sized Enterprises (MSMEs) in their transition towards Sustainability, in line with the United Nations’ Sustainable Development Goals.

Programme SIRIUS is an open and collaborative industry initiative that aims to support MSMEs operating on digital platforms in their journey towards sustainability. It will foster open industry dialogues where like-minded industry partners can exchange ideas on sustainability innovations and share best practices to support MSMEs on their sustainability journey, helping their transition into a low-carbon economy, advancing their accessibility to sustainability financing, and uplifting MSMEs with new growth opportunities.

At the launch event, 13 industry partners from 11 economies pledged to participate in the Sirius initiative: MPay (Macao SAR, China), AlipayHK (Hong Kong SAR, China), ANEXT Bank (Singapore), Bigpay (Malaysia), bKash (Bangladesh), DANA (Indonesia), GCash (the Philippines), Hipay (Mongolia), Kakao Pay (South Korea), TNG Digital (Malaysia), TossPay (South Korea), TrueMoney (Thailand), and Zalopay (Vietnam).

Corporates and businesses today face increasing reporting requirements from regulators, financial institutions and supply chain partners to disclose and track their sustainability performances. Small Medium Sized Enterprises (“SMEs”) represent 90% of all businesses and 50% of employment worldwide, yet their limited size means they lack the capability and data collection mechanism for sustainability related reporting.

As multinational corporations aim to reduce their carbon footprint and extend these expectations to suppliers, local merchants can gain a competitive advantage by embracing sustainability. SMEs are a vital part of the supply chains of large enterprises, and there is an urgent need to call for industry cooperation efforts and innovation to promote the transition of SMEs, including those operating on digital channels, towards sustainable development.

Sun Ho, Chairman and CEO of Macau Pass, said, "SMEs are the backbone of any economic growth. MPay serves as a bridge for them to digitalization by providing the necessary tools and changing the way they operate. We are committed to helping Macao SMEs make progress through digital financial services. We look forward to Sirius initiative bringing global financial institutions and payment providers together to jointly promote more inclusive and sustainable growth for SMEs worldwide."

Chen Leiming, Chief Sustainability Officer of Ant International said, "As merchants play an increasingly important role in both global and local economies, it is essential to provide them with the right mindset, knowledge, and resources to take climate action. Given the complexity of the task, from classification and governance frameworks to costs and education, a joint effort from public and private institutions, industries, and markets is required to drive this transformation. With our experience in innovation-led Sustainability and SME programs, Ant International is honored to create more sustainable opportunities for SMEs."