SafeCharge has agreed to enter into a strategic partnership with South East Asia-focused payment services company 2C2P.
The strategic partnership is expected to extend SafeCharge’s technology product offering to 2C2P’s merchants being, mainly, travel businesses and retailers in South East Asia. Separately, the Company has completed a minority investment in 2C2P.
The Group has begun the process to connect its payment platform with 2C2P in Asia which will extend its services in international payment processing to Asian merchants. 2C2P, which is headquartered in Singapore, has a strong list of customers and processed $2.2bn in payments in 2014.
The company has offices in Indonesia, Malaysia, Cambodia, Laos, Myanmar, Philippines, Thailand and Hong Kong. Frost & Sullivan estimates the B2C e-commerce volumes in these markets to grow by a CAGR of over 35 per cent from 2013 through to 2018.
David Avgi, Chief Executive Officer, said:
"The smart omni-channel technologies of 2C2P, their focus on mobile payments, local integration across multiple payment types and the company’s management are some of the reasons for deciding to develop this partnership with 2C2P. Asia Pacific continues to be a key focus area for SafeCharge and is a central part of management’s long term strategic vision. We expect to see significant growth for SafeCharge coming from the fast growing e-commerce markets in the Asian region."
Aung Kyaw Moe, Group CEO of 2C2P, said:
"Europe has traditionally served as a leading fintech and payments hub. With their global insights and knowledge around key financial verticals, including payments, e-commerce and capital markets, SafeCharge brings valuable insights to 2C2P, helping us apply these to an Asian context."