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2C2P

From EverybodyWiki Bios & Wiki



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2C2P
Private
ISIN🆔
IndustryE-commerce payment system, Financial services
Founded 📆2003; 22 years ago (2003)
Founder 👔
Headquarters 🏙️,
Singapore
Area served 🗺️
Key people
Aung Kyaw Moe (Founder)[1]
ServicesPayment service provider, Payment processing, Payment gateway, Payment card, Mobile Payment
Members
Number of employees
400 (2022)
🌐 Websitewww.2C2P.com
📇 Address
📞 telephone

2C2P is a payment solutions provider that enables global enterprises to accept and make secure payments via online, mobile, and offline channels. The company's services include payment acceptance, payouts, issuing, digital goods aggregation and reselling services, and supports over 45 currencies in over 400,000 locations.[2]

Headquartered in Singapore, 2C2P currently has over 400 employees in 10 countries and operates across more than 20 countries across Asia, Europe, the Middle East and the Americas.[3][4]

History[edit]

2C2P was founded in 2003 by Aung Kyaw Moe,[5][6][7][8] an entrepreneur from Myanmar who is based in Singapore and Thailand.[9] In 2007, the company established its headquarters in Singapore to accommodate a larger team to better serve and attract global clients across various sectors, including ecommerce, consumer tech, and retail.[10]

In 2009, 2C2P first secured a seed investment[11] and won the Grand Prize in Nokia’s Calling All Innovators Challenge.[12][5] In 2010, the company won another award, the Red Herring Top 100 Global Award.[13]

In 2013, 2C2P ranked 100th in Deloitte Technology Fast 500 Awards, which recognised the fastest-growing technology companies in Asia Pacific, based on the percentage of revenue growth over three years.[14][15] In the fiscal year of 2014, the company processed over US$2.2 billion in transactions.[16]

In 2015, CB Insights named 2C2P one of the top 25 payment startups, alongside Square Inc., Stripe (company), and Adyen.[17]

Growth[edit]

2C2P secured its latest funding round in 2019, bringing its total funding to US$70 million, with a recorded profit of $1.86 million that year.[18][19] The company remained profitable, and its profits grew to $2.45 million in 2020.[18]

In early 2020, 2C2P announced the launch of its investment arm, 2C2P.VC, to accelerate growth and capture new opportunities across Southeast Asia.[20][21] In late 2020, the company refreshed its branding and website to create a more international and accessible look and feel.[6]

In 2021, 2C2P was featured in the Financial Times' top 500 Asia-Pacific High Growth Companies,[22] and was also listed in The Straits Times' 2021 fastest growing companies in Singapore.[23]

2C2P has received financial backing from venture capitalists Amun Capital, GMO Venture Partners[24] and Digital Media Partners.[6][25]

In April 2022, 2C2P entered a strategic partnership with Chinese financial and payment company Ant Group, with the latter taking on a majority stake and linking Ant's Alipay+ payment service with 2C2P's existing payment gateway platform.[26][27][4]

Products and services[edit]

2C2P offers over 250 payment methods, including electronic payments, mobile payments, credit cards, and offline payments, enabling merchants to accept payments in instalments, at a pre-selected frequency, through social media, email or messaging platforms, in different currencies, or to multiple parties.[28] The company also aggregates bill payments, digital goods and services -- issuing wallets, cards and loyalty programs, and offering mobile top-ups, gift cards, game coupons, transportation tickets.[29][30][31]

In 2012, 2C2P launched an alternative payment solution, ‘123’, a local-currency alternative payment channel that enables non-credit-card payment processing for merchants and consumers.[32] The 123 alternative payments network currently covers over 400,000 offline payment locations[28], making it one of Southeast Asia's largest online-to-offline networks.[33]

In 2014, 2C2P partnered with Mastercard to launch easyBills, a platform designed to allow cardholders to pay utilities, mobile, and other bills through a dedicated portal.[34][35]

In 2018, the company partnered with five major corporations to launch Thailand's first online QR payment solution.[36]

See also[edit]

References[edit]

  1. ↑ "Aung Kyaw Moe - Founder, 2C2P". About.me. Retrieved 2015-04-02.
  2. ↑ "4 top payments players disrupting the industry in Thailand". IBS Intelligence. 2021-01-07. Retrieved 2021-04-15.
  3. ↑ "About Us". 2C2P. Retrieved 2021-04-15.
  4. ↑ 4.0 4.1 "China's Ant Group to take up majority ownership of Singapore-based payments platform 2C2P". The Straits Times. Retrieved 2022-11-11.
  5. ↑ 5.0 5.1 "Influential Leaders: Aung Kyaw Moe". AACSB International (AACSB). Retrieved 2022-11-11.
  6. ↑ 6.0 6.1 6.2 "Tech in Asia - Connecting Asia's startup ecosystem". techinasia.com. Retrieved 2016-08-23.
  7. ↑ "Series A investments in ASEAN tripled in 2014: Golden Gate Ventures". DealStreetAsia. Retrieved 2015-09-18.
  8. ↑ "Executive Profile Series with Aung Kyaw Moe from 2C2P -". paymentsjournal.com. Retrieved 2016-08-23.
  9. ↑ "10 of the Top Funded Fintech Startups in Thailand". Fintech Singapore. 2019-02-20. Retrieved 2021-04-15.
  10. ↑ "2C2P launches hiring, brand refresh initiative as it gears up for global expansion". Tech in Asia. 2020-12-04. Retrieved 2022-11-11.
  11. ↑ "'E-payment solutions might have more market share than Visa and MasterCard': Q&A with 2C2P founder Aung Kyaw Moe". KrASIA. 2020-11-19. Retrieved 2022-11-11.
  12. ↑ "5 Tech Entrepreneurship events that rocked SG in 2009". Tech in Asia. 2009-12-21. Retrieved 2022-11-11.
  13. ↑ "2C2P Wins Red Herring Top 100 Global Companies Award". Tech in Asia. 2010-01-20. Retrieved 2022-11-11.
  14. ↑ "Fast 500 companies: Only 1 from Malaysia, 3 from Singapore". 2013-12-09. Retrieved 2016-08-23.
  15. ↑ "Deloitte Technology Fast500 Asia Pacific 2013 Winners Report and Ranking" (PDF). Deloitte. 2013. Archived from the original (PDF) on 2016-03-22. Unknown parameter |url-status= ignored (help)
  16. ↑ "UnionPay International partners 2C2P to target Southeast Asian ecommerce market". The Paypers. 2015-11-02. Retrieved 2022-11-11.
  17. ↑ "Top 25 Payments Startups by Mosaic Score". CB Insights. 2015-06-19. Retrieved 2015-09-22.
  18. ↑ 18.0 18.1 "DealStreet Asia Data Vantage". DealStreet Asia. 2022-08-04. Retrieved 2022-11-11.
  19. ↑ "Payments firm 2C2P banks $52m to expand beyond Southeast Asia". Tech in Asia. 2019-11-25. Retrieved 2022-11-11.
  20. ↑ "2C2P to accelerate SEA expansion with new investment arm, says group CEO". DealStreet Asia. 2020-07-22. Retrieved 2022-11-11.
  21. ↑ "Payments Firm 2C2P Launches a Venture Capital Arm". Fintech Singapore. 2020-04-14. Retrieved 2021-04-15.
  22. ↑ "FT ranking: Asia-Pacific High-Growth Companies 2021". The Financial Times. 2021-03-30. Retrieved 2021-04-15.
  23. ↑ "SG fastest companies 2021 - 2". The Straits Times. 2020-11-27. Retrieved 2021-04-15.
  24. ↑ "Southeast Asian Payments Provider 2C2P Raises $7 Million From Amun Capital and Japan's GMO Venture". Forbes.com. Retrieved 2015-09-18.
  25. ↑ "Singapore: Payments firm 2C2P gets strategic investment from SafeCharge, to gain access to global e-commerce - DealStreetAsia". DealStreet Asia. Retrieved 2016-08-23.
  26. ↑ Forbes (2022-04-19). "Alibaba's Ant Group Buys Majority Stake In Singapore Fintech 2C2P". Forbes. Retrieved 2022-11-11.
  27. ↑ Reuters (2022-04-18). "China's Ant Group to take up majority ownership of payments platform 2C2P". Reuters. Retrieved 2022-04-19.
  28. ↑ 28.0 28.1 "Payment Acceptance". 2C2P. Retrieved 2021-04-15.
  29. ↑ "Deutsche Bank launches state-of-the-art payments platform through 2C2P in Thailand – Deutsche Bank". Deutsche Bank. Retrieved 2021-04-15.
  30. ↑ "Issuing". 2C2P. Retrieved 2022-11-11.
  31. ↑ "Digital Goods & Bills". 2C2P. Retrieved 2022-11-11.
  32. ↑ "2C2P launches 123 Service to diversify online payment options". RYT9 Thailand News. 2012-08-24. Retrieved 2022-11-11.
  33. ↑ "2C2P's Online-To-Offline E-commerce Service '123' Now Available At Over 320,000 Locations". Techsauce.co. 2016-11-07. Retrieved 2022-11-11.
  34. ↑ "2C2P, MasterCard launch easyBills service". Nation Thailand. 2014-02-24. Retrieved 2022-11-11.
  35. ↑ "MasterCard holders to pay their bills via 2C2P's easyBills in Thailand". e27. 2014-02-20. Retrieved 2022-11-11.
  36. ↑ "QR code payment now via credit card". Bangkok Post. 2018-03-07. Retrieved 2022-11-11.

External links[edit]

Category:Online companies of Singapore Category:Mobile payments Category:Online payments Category:Payment service providers


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