LONDON | SafeCharge enters into a strategic partnership with South East Asia-focused payment services provider 2C2P. The strategic partnership will extend SafeCharge's product offering to 2C2P's merchants consisting of travel businesses and retailers in South East Asia. SafeCharge has also completed a minority investment in 2C2P.
Connecting platforms for rising markets
SafeCharge 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 over 35 per cent from 2013 through to 2018.
Significant growth for SafeCharge
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."
SafeCharge International Group Limited is a global provider of payments services, technologies and risk management solutions for online and mobile businesses. 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.
2C2P is one of the leading Southeast Asian payment services provider. They offer a number of comprehensive, technology-driven payment services tailored to the needs of financial institutions, e-commerce and m-commerce businesses and retailers, facilitating electronic and mobile commerce.
2C2P processes billions of dollars in transactions for many businesses. They have offices across Southeast Asia, including in Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Philippines and Thailand, as well as in Hong Kong. 2C2P is a 2013 Deloitte Technology Fast 500 Award winner, recognized as one of Asia's fastest growing technology companies.