Singapore’s 2C2P in partnership with London’s SafeCharge
By Digital News Asia January 6, 2016
- SEA merchants can now tap into European and North American B2C market
- Both integrate their services, SafeCharge acquires minority stake in 2C2P
SINGAPOREAN-based regional payments company 2C2P said it has teamed up with SafeCharge International Group Ltd, a London-based company specialising in payment technologies.
Through this strategic partnership, South-East Asian brands and retailers will be able to break into the combined US$985 billion a year European and North American B2C (business-to-consumer) e-commerce markets, 2C2P said in a statement, citing eMarketer statistics.
SafeCharge acquired a minority stake in 2C2P, although investment terms were undisclosed.
The two companies have integrated each other’s payment services into their offerings to retailers and merchants, it said.
SafeCharge’s merchant customers in Europe and North America will be able to offer South-East Asian payments to their customers. Through SafeCharge, 2C2P’s merchant partners can connect with consumers in Europe and North America.
“We are committed to expanding our payment services, capitalising on global e-commerce flows,” said 2C2P founder and group chief executive officer Aung Kyaw Moe.
“We are empowering South-East Asian retailers and merchants to connect to the world, providing more avenues for their customers to transact,” he added.
2C2P said it works with some of South-East Asia’s largest e-commerce and m-commerce merchants. It claims to have processed more than US$2.2 billion in transactions in 2014, growing by over 440% year-on-year versus 2013.
In April 2015, it raised US$7 million in Series C funding, taking total funding to over US$10 million.
Meanwhile SafeCharge said that through 2C2P, it will continue to build its presence in Asia, a key growth region.
“The addition of 2C2P’s South-East Asian-regional payment solutions complements [our] current offering, enabling our customers to penetrate more global markets,” said SafeCharge chief executive officer David Avgi.
“We are driven to expand our payment suite worldwide, including in Asia, a priority geography for SafeCharge’s strategic long-term vision,” he added.
2C2P raises US$7 million Series C funding
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Thai retail giant Central Group opts for 2C2P payment solutions
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