Nearly 40,000 Merchants Sign Online, eftPay Completes the Merchant Cooperation Loop

Company Introduction

eftPay is a Hong Kong electronic wallet and financial payment service provider, offering merchants supporting services for e-wallet adoption, including account opening services, merchant POS and payment system integration, transaction processing, and payment settlement. eftPay focuses on merchant payment acceptance and transaction services, helping merchants connect to multiple e-wallets and payment methods.

eftPay partnered with eSign to provide online signing management services for nearly 40,000 merchants. Its core use case is signing documents such as the Merchant Cooperation Agreement with Hong Kong merchants and overseas merchants that use its payment services, allowing merchant cooperation documents to be initiated, delivered, and signed online.

Business Challenges

1. A large volume of merchant cooperation agreements required frequent signing

eftPay serves a large merchant base. When merchants connect to its payment services, they need to sign key documents such as the Merchant Cooperation Agreement. If agreements still rely on offline paper documents or email attachments, merchant operations teams must spend significant time distributing documents, collecting them, and confirming signing status.

Merchant signing efficiency directly affects account opening, payment system access, and the start of subsequent settlement services. Facing online signing management needs for nearly 40,000 merchants, traditional signing methods are difficult to scale for operational requirements.

2. Merchant cooperation agreement templates needed unified management

Merchant cooperation agreements have relatively standardized clause structures and signing workflows, but different merchants and different business stages may require signing tasks to be initiated quickly in batches. If documents and signing fields need to be created from scratch each time, operations teams face high repetitive workload.

Inconsistent templates can also lead to agreement version differences, missing fields, and inconsistent archiving standards. For a financial payment service provider, merchant cooperation agreements need a standardized and repeatable signing process.

3. Reaching Hong Kong and overseas merchants needed to be lighter and more efficient

eftPay’s signers include both Hong Kong merchants and overseas merchants, who are widely distributed and respond at different speeds. If the team relies on manually sending signing links and following up one by one, signing progress becomes hard to track centrally and the merchant onboarding cycle is extended.

Merchants need to receive signing tasks through familiar and convenient channels and complete agreement confirmation online. The clearer the signing notification method, the more stable the merchant signing experience becomes.

Solution & Results

1. Used the eSign.AI page to initiate merchant cooperation agreements

In phase one, eftPay used the eSign.AI page to create templates and initiate agreement signing, bringing documents such as the Merchant Cooperation Agreement into an online signing workflow. The Hong Kong entity can initiate signing tasks online, and merchants can remotely complete agreement confirmation.

With contract eSignature capabilities, eftPay moved merchant cooperation agreements from paper-based or email-based circulation to online completion, reducing manual collection and document transfer costs while supporting online signing management for nearly 40,000 merchants.

2. Improved agreement initiation efficiency through template creation

Business teams can create merchant cooperation agreement templates on the page and quickly initiate signing tasks based on those templates. Standard templates reduce repetitive work in configuring document content and signing fields, while making agreement versions, workflows, and archiving standards more consistent.

Template-based signing workflows help eftPay maintain operational consistency as its merchant scale grows, making agreement initiation faster and more standardized while laying the groundwork for future integrated management.

3. Reached cooperating merchants through email or SMS

Cooperating merchants can receive signing notifications by email or SMS and complete signing online. Notification capabilities allow merchants to access signing tasks in time, reducing one-by-one communication, repeated reminders, and manual confirmation by operations teams.

Phase two can also connect with eftPay’s internal service platform to enable integrated management. As signing capabilities are further embedded into internal processes, merchant agreement initiation, signing, and management will become more closely connected to eftPay’s merchant service workflow.

Application Impact

eftPay moved the merchant cooperation agreement signing process online, providing online signing management services for nearly 40,000 merchants and helping Hong Kong and overseas merchants complete cooperation confirmation more efficiently.

Agreement template creation and online initiation capabilities reduce repetitive configuration and manual distribution, helping merchant operations and legal teams manage merchant cooperation documents in a more unified way.

Email and SMS notifications allow cooperating merchants to receive signing tasks promptly and sign online, creating a smoother business loop from agreement confirmation to payment service activation.

Related Reading

• Electronic Signature Solutions for Financial Services — Solution patterns for financial services signing, relevant to eftPay’s merchant agreement volume.
• E-commerce E-signatures: Connecting Suppliers, Merchants, and Cross-Border Partners — How e-commerce players connect suppliers and merchants with e-signatures, echoing eftPay’s merchant onboarding loop.