Southeast Asian merchants can tap into the 2015 US$538 billion North American and the US$447 billion B2C e-commerce market (eMarketer)
SINGAPORE and LONDON, January 5, 2016 – Southeast Asia’s leading payments company 2C2P has teamed up with SafeCharge International Group Ltd (LON:SCH), a leader in advanced payment technologies. Through this strategic partnership, Southeast Asian brands and retailers will be able to break into the combined US$985 billion a year European and North American B2C e-commerce markets.
The two companies have integrated each others’ payment services into their offerings to retailers and merchants. SafeCharge’s merchant customers in Europe and North America will be able to offer Southeast Asian payments to their customers. Through SafeCharge, 2C2P’s merchant partners can connect with consumers in Europe and North America.
2C2P Group CEO and Founder, Mr Aung Kyaw Moe, said, “We are committed to expand our payment services, capitalizing on global e-commerce flows. In SafeCharge, we have a formidable partner with proven global innovation and insights. We are empowering Southeast Asian retailers and merchants to connect to the world, providing more avenues for their customers to transact.”
David Avgi, CEO of SafeCharge said, “The addition of 2C2P’s Southeast Asian-regional payment solutions compliments the company’s current offering, enabling our customers to penetrate more global markets. We are driven to expand our payment suite worldwide, including in Asia, a priority geography for SafeCharge’s strategic long term vision. Through the partnership with 2C2P, we endeavour to capitalize on the region’s fast growth.”
2C2P works with some of SEA’s largest e-commerce and m-commerce merchants. It processed more than US$2.2 billion in transactions in FY2014, growing by over 440 percent year-on-year versus FY2013. In April 2015, it raised US$7 million in Series C funding, taking total funding to over US$10 million. SafeCharge had acquired a minority stake in 2C2P. Investment terms were undisclosed. Through 2C2P, it will continue to build its presence in Asia, a key growth region.
2C2P is a leading Southeast Asian (SEA) payment services provider. It offers a number of comprehensive, technology-driven, omni-channel payment services tailored to the needs of financial institutions, e-commerce and m-commerce businesses and retailers, facilitating electronic and mobile commerce. 2C2P enables payment acceptance through credit and debit cards, as well as through bank channels such as ATMs, internet banking and mobile banking. 2C2P also facilitates cash acceptance via payment counters, an important feature in SEA, a region characterized by low card penetration. With 2C2P’s comprehensive omni-channel solutions, merchants can now transact with both banked and unbanked customers.
2C2P is a PCIDSS Level 1 certified company. The company processes billions of dollars in transactions for many businesses. 2C2P has offices across Southeast Asia, including in Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Philippines and Thailand, as well as in Hong Kong. In 2015, 2C2P was recognized by CBInsights as one of the world’s top 25 payment startups. It is a 2013 Deloitte Technology Fast 500 Award winner, recognized as one of Asia’s fastest growing technology companies.
SafeCharge International Group Limited is a global provider of payments services, technologies and risk management solutions for online and mobile businesses. The SafeCharge group has a diversified, blue chip client base and is a trusted payment partner for customers from various e-commerce verticals. SafeCharge has been Payment Card Industry Data Security Standard (“PCI-DSS”) Level 1 certified since 2007 and is listed on the London Stock Exchange AIM market (LSE: SCH). The Company’s wholly owned subsidiary, SafeCharge Limited, is an authorized Electronic Money Institution regulated by the Central Bank of Cyprus and a principal member of MasterCard Europe and VISA Europe. The SafeCharge group has operations in the UK, Cyprus, Bulgaria, Israel, Germany, Austria and Ireland.