by Rachelle Alexis Lim, Executive Director of 2C2P
The Covid-19 pandemic has accelerated demand for cashless transactions. Consumers expect a wide choice of fast, easy-to-use, and secure digital payment options 24/7.
Research says over 70 billion real-time payments transactions were processed globally in 2020, a 41 per cent rise compared to the previous year, with the top four countries driving this growth all located in Asia - India, China, South Korea, and Thailand.
At the same time, the payments space is evolving rapidly. A staggering US$7 trillion in consumer spending is predicted to shift from cash to cards and digital payments by 2023.
Businesses that deliver a seamless, high-quality payment experience whether in-store, online or mobile will do best in this landscape. Sustainable growth requires an agile payment platform that keeps up with the latest technology, market trends, customer preferences, and regulatory tweaks.
Companies that fail to keep up with the pace of change risk losing revenue and getting left behind. Large enterprises looking to grow across multiple geographies and acquire many different user profiles face even more complex challenges.
Here’s how 2C2P helps large enterprises leverage payments to enable revenue growth.
Shoppers today want maximum choice when they check out.
2C2P supports all major card schemes and more than 250 payment options, including digital wallets, and alternative payment methods (APMs). Businesses can access new markets via our extensive payment network across Asia and Europe and reach large numbers of uncarded, underbanked and unbanked consumers in emerging markets via APMs.
2C2P’s platform does all the heavy lifting of onboarding popular payment methods and acquiring licences behind the scenes, so businesses can focus on delivering the products and services their customers need.
The number of inbound/outbound transfers rises quickly as a business expands across multiple markets.
2C2P streamlines the process, moving funds in and out of countries in real-time and allowing recipients to receive payment in the local currency and choice of payment medium.
A single easy integration gives businesses multiple secure payout options, all with centralised monitoring and reporting.
2C2P aggregates popular digital bills and services into a single platform to bring greater convenience to businesses and their customers. We take away the hassle of handling payments processing and digital invoicing, while being compliant with the industry’s highest security standards.
Our extensive network also helps businesses generate new sales leads and acquire new users.
Expanding into new markets can be a headache for businesses.
2C2P brings peace of mind thanks to our deep knowledge of local contexts, particularly in Southeast Asia. We’ve spent 18 years building up a network of partnerships with financial institutions and APMs, allowing merchants to access all of the regions via our single payment platform.
Businesses don’t have to waste time trialling payment methods – we know that the acceptance of local wallets is higher than international credit cards in some markets, for example, and we understand the importance of cash pick-ups and the ability to pay bills at the nearest convenience store because it's closer than the bank in other markets.
Our payment experts in each market will be able to assess your business needs and help you to optimise your payments strategy while mitigating the risks.
For large businesses, successful growth depends on the ability to handle high traffic numbers without compromising performance and availability.
2C2P's services are built on AWS cloud architecture which means the payment infrastructure can scale on demand to accommodate large volumes. Major e-commerce campaigns such as Singles’ Day sales and new product launches can be handled with ease.
Losses in revenue and reputation are not an option for large businesses. With fraud on the rise, extra layers of protection must be added wherever possible.
Robust fraud detection is at the heart of 2C2P’s service. Our real-time monitoring stops fraud from slipping under the radar and prevents transaction processing from getting held up.
And as digitalisation evolves at a rapid pace, 2C2P remains alert and agile on your behalf, maintaining the latest cybersecurity capabilities to deal with the latest fraud trends that affect real-time payments.
2C2P has helped many large enterprises to solve their business challenges.
Take Lazada, for example. It needed help to grow its business in Thailand where a sizeable underbanked population prefers alternative payment methods like mobile wallets. We gave Lazada a single-point integration with more than 20 payment methods for their customers to choose from, including wallets, online banking, mobile banking and credit card instalment payment plans – all with an easy single point of fund settlement and reporting.
In Singapore, premium hospitality firm The Lo & Behold Group asked 2C2P to create a secure and seamless payment solution to receive event, private dining and group bookings at its hotels and restaurants. Our payment gateway made it easy to process credit card and e-wallet payments from customers via messaging platforms or QR code, as well as instalment payment options.
Want to know more about growing your business with streamlined payments? Let’s talk.