2020 was a watershed year. Yet, it was also a year of immense growth and opportunity for 2C2P. Innovative payment solutions, continuity amid disruptions, and business expansion - these were some of the wins for 2C2P in 2020.
We were also recognised as Singapore's top 20 fastest growing companies in Singapore in a list compiled by The Straits Times and global research firm Statista released last week. Here’s a quick summary of our 2020 highlights.
From international and domestic card payments to mobile wallet payments, our payment platform has grown to offer more than 250 payment options.
Whether it's for transactions at a convenience store, ATM, or petrol kiosk, our network extends to more than 400,000 locations across Asia, serving many large, well-known merchants across various industries.
Our growing network is a testament to the trust and confidence that our clients place in us. We are committed to observing and maintaining the highest standards and regulations imposed by local and international regulatory authorities. We have earned certifications, including the Payment Card Industry Data Security Standard Level 1 and ISO 27001, which covers information security management.
In 2021, we will continue to expand our integrations and implementations within and beyond Southeast Asia to accelerate the growth of the digital economy.
Undoubtedly, the global pandemic continues to pose challenges. As early as February 2020, we saw a significant drop of transaction volume in business-to-business payments. Some even dropped close to zero.
At the same time, we witnessed transaction volumes of e-commerce companies growing three to four times within a short time span. Digital payments were thriving in these businesses.
As a payments aggregator, we enabled enterprises with minimal web presence to continue transactions through a proprietary payment link option. We set up a system for clients to send secure payment links easily to customers via social media and messaging apps.
A portfolio of clients, including leading hospitality company The Lo & Behold Group, benefited from this system. By switching to food takeaway services, they were able to ensure business continuity despite strict lockdown measures in Singapore.
In 2020, we entered an exciting growth phase.
One of our proudest achievements in 2020 was the set up of our venture arm 2C2P.VC in April. 2P2C.VC focuses on accelerating the growth of our omni-channel platform in Southeast Asia and beyond. This will be a critical component of our growth strategy as we invest in more companies to strengthen our network.
We also had a brand and website refresh to reflect our global positioning. Talent recruitment efforts across our global offices ramped up, and we expanded the Singapore team by 30%.
In 2021 and beyond, our journey continues, and our mission remains focused on further improving and refining all aspects of our payment platform’s strategy. Be it in diversifying our payment solutions, adjusting to external changes, or business and team expansion, we are dedicated to delivering stellar growth for 2C2P and the industry.
Read the full Straits Times piece here.