2C2P

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2C2P
Private
IndustryE-commerce payment system, Financial services
Founded2003; 16 years ago (2003)
Headquarters
Singapore
Key people
Aung Kyaw Moe (Founder)[1]
ServicesPayment service provider, Payment processing, Payment gateway, Payment card, Mobile Payment
Number of employees
100-150 (2015)
Websitewww.2C2P.com

2C2P is a Singapore-headquartered pan-Asian payment services company that works with financial institutions, e-commerce and m-commerce merchants. It operates across Southeast Asia, including in Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines and Thailand, as well as in Hong Kong.[2][3]

History[edit]

2C2P was founded in 2003 by Aung Kyaw Moe,[4][5][6][7] an entrepreneur from Myanmar who is based in Singapore and Thailand. Aung also co-founded Paysbuy,[8][9] a Thai payments company, in 2004.

The company processed over $2.2 billion in transactions in FY2014.[10][11] 2C2P has received financial backing from venture capitalists Amun Capital, GMO Venture Partners[12] and Digital Media Partners.[13][14] 2C2P was selected by Deloitte as No. 100 in the 2013 Deloitte Technology Fast 500 Awards, recognising the fastest growing regional technology companies.[15][16][17] In 2015 it was named among the Top 25 payment startups by CB Insights, alongside Square Inc., Stripe (company), Adyen.[18] The name of the company means "To Cash To Payment".

Products and services[edit]

Citizen Card, Myanmar's first prepaid card with a virtual application
iACCEPT, a mobile point of sale payment solution demonstrated on a Samsung Android (operating system) mobile device

2C2P offers multi-channel payment platforms, payment gateways and other white-label payment solutions. Services include span local and international payment card acceptance, issuing prepaid cards and accepting cash and cash equivalent solutions, such as 123 Payments.[19][20][21]

123, an alternative payment service, allows customers to pay for online purchases via over-the-counter payment at its service network of over 320,000 locations throughout Southeast Asia.[22][23][24]

AIS mPay MasterCard,[25] a virtual credit card payment service in Thailand, offered together with Advanced mPay (the mobile payment arm of AIS), MasterCard and Thanachart Bank.[26]

iACCEPT, a mobile point-of-sales system in Myanmar, allowing guests at The Inya Lake Hotel and Strand Hotel to pay their hotel bills using their mobile devices, offered together with Myanmar Citizens Bank and Myanmar Hotels International.[27][28][29][30]

'easyBills’, the first financial service in Thailand that allows card holders to make bill payments online or by using their mobile devices, provided together with MasterCard.[31] easyBills was also launched in Myanmar in June 2015.[32]

Partnerships[edit]

Demonstration of easyBills on an iPad

Thailand's national carrier THAI Airways tasked 2C2P to process all transactions made on their website, a value which could be as high as USD 2.47 billion (80 billion THB).[33][34]

Central Group, a retail conglomerate from Thailand,[35] appointed 2C2P to implement payment services for five of their retail brands - B2S, Central, OfficeMate, Robinson and SuperSports.[36]

"Citizen Card", the first prepaid card issued by Myanmar Citizens Bank, and the first card[37] in the country with a real-time mobile application.[38][39]

Myanmar Payments Union and 2C2P launched Myanmar's first e-Commerce payment platform[40][41][42][43] in February 2015.[44]

2C2P's 3D Secure authentication technology is widely implemented by card issuing banks across Southeast Asia, and is responsible for over 85% of authentications in Thailand alone.[45][46]

See also[edit]

References[edit]

  1. ^ "Aung Kyaw Moe - Founder, 2C2P". About.me. Retrieved 2015-04-02.
  2. ^ "2C2P helps Myanmar revolution". Inside Retail Asia. 2016-01-22. Retrieved 2016-08-23.
  3. ^ "Strategic partnership with 2C2 – Company Announcement - FT.com". announce.ft.com. Retrieved 2016-08-23.
  4. ^ "Tech in Asia - Connecting Asia's startup ecosystem". techinasia.com. Retrieved 2016-08-23.
  5. ^ "Series A investments in ASEAN tripled in 2014: Golden Gate Ventures". DealStreetAsia. Retrieved 2015-09-18.
  6. ^ Systems, eZ. "Aung Kyaw Moe Group CEO 2C2P Pte Ltd - World Entrepreneurship Forum". world-entrepreneurship-forum.com. Archived from the original on 2016-08-20. Retrieved 2016-08-23.
  7. ^ "Executive Profile Series with Aung Kyaw Moe from 2C2P -". paymentsjournal.com. Retrieved 2016-08-23.
  8. ^ Systems, eZ. "Aung Kyaw Moe Group CEO 2C2P Pte Ltd - World Entrepreneurship Forum". world-entrepreneurship-forum.com. Archived from the original on 2016-08-20. Retrieved 2016-08-23.
  9. ^ "Tech in Asia - Connecting Asia's startup ecosystem". techinasia.com. Retrieved 2016-08-23.
  10. ^ "2C2P Raises $7M To Bridge The Payment Gap In Southeast Asia". TechCrunch. 2015-04-27. Retrieved 2015-09-18.
  11. ^ "Asia's homegrown PayPal challenger 2C2P raises US$7M Series C". Retrieved 2016-08-23.
  12. ^ "Southeast Asian Payments Provider 2C2P Raises $7 Million From Amun Capital and Japan's GMO Venture". Forbes.com. Retrieved 2015-09-18.
  13. ^ "Tech in Asia - Connecting Asia's startup ecosystem". techinasia.com. Retrieved 2016-08-23.
  14. ^ "Singapore: Payments firm 2C2P gets strategic investment from SafeCharge, to gain access to global e-commerce - DealStreetAsia". DealStreetAsia. Retrieved 2016-08-23.
  15. ^ "Fast 500 companies: Only 1 from Malaysia, 3 from Singapore". 2013-12-09. Retrieved 2016-08-23.
  16. ^ "Deloitte Technology Fast500™ Asia Pacific 2013 Winners Report and Ranking" (PDF). Deloitte. 2013. Archived from the original (PDF) on 2016-03-22.
  17. ^ Thean, Goh (2015-03-27). "Fast 500 companies: Only 1 from Malaysia, 3 from Singapore". Digitalnewsasia.com. Retrieved 2015-04-02.
  18. ^ "Top 25 Payments Startups by Mosaic Score". CB Insights. 2015-06-19. Retrieved 2015-09-22.
  19. ^ "Tech in Asia - Connecting Asia's startup ecosystem". techinasia.com. Retrieved 2016-08-23.
  20. ^ "2C2P integrates payment solutions with Central Group - offers e-commerce shoppers more payment options, faster buying - thumbsupthumbsup". thumbsup. 2014-07-29. Retrieved 2016-08-23.
  21. ^ "2C2P increases number of online-to-offline e-commerce payment service locations". Enterprise Innovation | Asia's Premier Business and Technology Publication. Retrieved 2016-12-04.
  22. ^ "Singapore: Alternative payment service 2C2P expands to over 320,000 locations in SEA - Tech Wire Asia". Tech Wire Asia. 2016-11-09. Retrieved 2016-12-04.
  23. ^ "2C2P increases offline payment locations for its 123 service". mis-asia.com. Archived from the original on 2016-12-20. Retrieved 2016-12-04.
  24. ^ "2C2P expands 123 e-commerce service to 320,000 locations". telecompaper.com. Retrieved 2016-12-04.
  25. ^ Thailand, Nation Multimedia Group Public Company Limited, Nationmultimedia.com. "SCB, FamilyMart join for bill payment - The Nation". Retrieved 2016-08-23.
  26. ^ "PressReader.com - Connecting People Through News". pressreader.com. Retrieved 2016-08-23.
  27. ^ "2C2P partners Myanmar Citizen Bank to launch POS system | iN.SG". Ida.gov.sg. Archived from the original on 2014-08-25. Retrieved 2015-04-02.
  28. ^ Cunningham, Susan. "Southeast Asian Payments Provider 2C2P Raises $7 Million From Amun Capital and Japan's GMO Venture". Retrieved 2016-08-23.
  29. ^ "2C2P launches Myanmar's first mobile POS (mPOS) solution "iACCEPT", in collaboration with Inya Lake Hotel and The Strand Hotel". traveldailynews.asia. Archived from the original on 2016-09-19. Retrieved 2016-08-23.
  30. ^ "Singapore Firm Launches Myanmar's First Mobile POS". Retrieved 2016-08-23.
  31. ^ The Nation February 25, 2014 1:00 am (2014-02-25). "2C2P, MasterCard launch easyBills service - The Nation". Nationmultimedia.com. Retrieved 2015-04-02.
  32. ^ "Why Myanmar is ready to go cash-free". Video.cnbc.com. Retrieved 2015-09-18.
  33. ^ "Thai Airways books online with 2C2P". Enterpriseinnovation.net. 2014-04-14. Retrieved 2015-04-02.
  34. ^ Thailand, Nation Multimedia Group Public Company Limited, Nationmultimedia.com. "Thai Airways contracts Singapore's 2C2P to process online sales - The Nation". Retrieved 2016-08-23.
  35. ^ "Branching out - Nikkei Asian Review". Asia.nikkei.com. 2014-04-10. Retrieved 2015-04-02.
  36. ^ "Thailand's Central Group debuts e-payment services". Telecomasia.net. 2014-07-31. Retrieved 2015-04-02.
  37. ^ "MasterCard brings prepaid credit card to Myanmar". Telecom Asia. 2015-07-23. Retrieved 2015-09-18.
  38. ^ "Myanmar bank launches 'Citizen Card'". Enterpriseinnovation.net. 2015-01-12. Retrieved 2015-04-02.
  39. ^ "Tracking developments in Myanmar's financial services". Video.cnbc.com. Retrieved 2015-04-02.
  40. ^ "MPU, 2C2P launch Myanmar's first e-commerce payments platform". DealStreetAsia. Retrieved 2016-08-23.
  41. ^ "2C2P, Myanmar Payment Union launch ecommerce payment platform". thepaypers.com. Retrieved 2016-08-23.
  42. ^ "2C2P raises US$7 Million Series C funding, Buoyed by Southeast Asian E-Commerce - Dailysocial" (in Indonesian). Retrieved 2016-08-23.
  43. ^ "Myanmar online shoppers get new payment option | UAB Bank". unitedamarabank.com. Retrieved 2016-08-23.
  44. ^ "From cash to cards: Plastic finds a place in Myanmar's wallets- Nikkei Asian Review". Asia.nikkei.com. 2015-03-11. Archived from the original on 2015-03-13. Retrieved 2015-04-02.
  45. ^ "Central Group to check out with 2C2P". Contactlessintelligence.com. 2014-07-29. Retrieved 2015-04-02.
  46. ^ "UnionPay International partners 2C2P to tap into SE Asian e-commerce market". Enterprise Innovation | Asia's Premier Business and Technology Publication. Retrieved 2016-12-04.

External links[edit]