2C2P | December 01, 2022
2C2P, a global payments platform and leading merchant commerce omnichannel platform Pine Labs have partnered to expand Buy Now Pay Later (BNPL) across Asia in six key markets, namely Singapore, Malaysia, Hong Kong, Indonesia, the Philippines and Thailand. Unlike other BNPL offerings, Pine Labs works with issuing banks to enable cardholders of participating issuing banks to purchase items with multiple and longer instalment tenures, without having to download any mobile application or subscribe to any additional e-wallet or payment services. Cardholders will be able to make instant instalment payments at checkout up to their pre-approved credit limit with no interest charge. This partnership is expected to boost consumer confidence in the region and empower retail merchants to sell more and sell often to their customers. Pine Labs' BNPL strategy has a strong track record in India and has now expanded into various Southeast Asian markets. Since its launch in Singapore, Pine Labs Pay Later has emerged as a flexible payment option for merchants across a variety of verticals, including retail and tech, counting the likes of Eu Yan Sang, Samsung, OPPO, and more as its clients.
"We are delighted with the rapid strides we are taking in Southeast Asia when it comes to expanding our Buy Now Pay Later proposition. In this respect, we are excited to announce today our partnership with leading payments player 2C2P. With more young shoppers preferring digital modes of payments, we believe our BNPL offering will hit the right chord with the discretionary consumer of today and help merchants in the region drive sales, especially of big-ticket items, and contribute to a positive customer experience,"
Dheeraj Chowdhry, Chief Business Officer & Head - Pay Later, Southeast Asia, Pine Labs.
BNPL solutions have emerged as an essential capability for card issuers and merchants across the globe. In doing so, by partnering with Pine Labs, we are excited to aggregate customer demand and increase retailers' cross-sell opportunities. If shoppers prefer a BNPL fintech solution, we are here and enabling it; if they want an option from their banks, we're offering those too. At 2C2P, we are always looking for new ways to support our merchants' growth and enhance the payment experience by offering all types of payment options. With the shift in demand for digital payments and the appeal of interest-free payments, BNPL is an effective tool to expand sales and attract younger tech-savvy customers," said Agnes Chua, Executive Director of Business and Product Development of 2C2P. Unlike other BNPL offerings, customers now have more flexible payment options to consider when making larger purchases. This aids customers to better plan and manage their spending, especially when moving into a new home," said Andrew Kang, Head of eCommerce in Samsung. Winston Tan, Head of Sales from OPPO said, "Having Pine Labs as a payment option enables us to give our customers more flexibility in how they pay for their purchases. We believe the option will make it easier and more attractive for price-sensitive customers to afford large ticket items and help with cash flow management and budgeting.Integrating the BNPL platform into our payment system has been seamless. Since implementing the program, our stores have seen incremental customer engagement and good satisfaction," said Rachel Cheng, Managing Director of Eu Yan Sang Singapore. According to an IDC report commissioned by 2C2P, BNPL spending is expected to expand by $9.8billion in 2026, a 3.5x increase from 2021. In addition, retail sales in Singapore grew by 11.2% year on year in September 2022, marking the seventh straight month of increase in retail trade this year. Amidst the positive outlook for retail trade, the ease of instalment purchase offerings at the offline point of sale will encourage the continued growth of the retail industry amidst post-COVID-19 disruptions.
About Pine Labs
Pine Labs is a leading merchant commerce omnichannel platform operating across India and Southeast Asia. Pine Labs' tech-first approach to digital payments and focus on simplification at the front end aims to help many businesses embrace fintech products at scale. In digital payments, our online payments cloud-based software Plural represents a one-stop payments destination across channels. Plural is designed to deliver secure and frictionless online payment experiences to the end user, powered by an advanced tech stack that can augment an existing online business or build an all-new e-commerce payment setup from the ground up. In issuing, Qwikcilver serves leading corporates, Fast-Moving Consumer Goods (FMCG) brands, e-commerce companies, the Banking, Financial Services and Insurance (BFSI) sector and the airline industry, with a presence across India, the Middle East, Southeast Asia and Australia. Qwikcilver is a go-to gift card provider among companies looking to, among other things, bolster their employee rewards program and issue closed-loop gift cards for customer acquisition. In consumer app, Fave is a fintech platform for the next generation of consumers, providing smart payments and savings, while empowering merchants with a loyalty solution to grow and engage with their customers in a whole new way. Incorporated in Singapore, the key investors of Pine Labs include Sequoia India, Actis Capital, Temasek, PayPal and Mastercard.
2C2P is a full-suite payments platform helping the world's leading enterprises securely accept and make payments through one point of integration. Its far-reaching network extends across online, mobile and offline channels including over 400,000 alternative payment locations, enabling enterprises to reach their customers or recipients anywhere. 2C2P also provides value-added services such as issuing, 3D Secure, bill payments and digital goods to meet every business need. The company is headquartered in Singapore and operates globally. It is the preferred payments platform of tech giants, online marketplaces, retailers and other global enterprises.
DePay | November 23, 2022
Swiss Web3 payment startup DePay today announced that they are joining forces with the self-hostable, open-source eCommerce plugin WooCommerce, pushing decentralization further and providing merchants with the ability to have customers send payments directly to their own wallets with tens of thousands of accepted tokens on supported blockchains with on-the-fly conversion.DePay makes Web3 and crypto payments as straightforward as possible for merchants and their customers, without requiring a custodial approach," said David Lockie, Web3 Lead at Automattic. "We wanted to offer WooCommerce merchants a wide range of crypto payment providers, and were instantly impressed by DePay's flexibility across chains and coins, as well as their focus on a great user experience for all parties.
"WooCommerce is the best way for merchants to run their shops without intermediaries. With the launch of DePay Payments for WooCommerce, this now also applies to payments."
Sebastian Pape, Founder of DePay.
The mechanism of blockchain transactions is inherently peer-to-peer and decentralized. Nevertheless, most of today's established Crypto Payment solutions manage wallets for their customers, embedding a decentralized technology into centralized structures. As a result, the buyers pay intermediaries who credit the merchant's account after processing each payment. Merchants then need to request the withdrawal of their funds as opposed to receiving the payments directly into their wallet. Aiming for a paradigm shift, DePay establishes a new model by using decentralized finance (DeFi) to enable any-to-anything payment conversions managed by smart contracts, allowing merchants to receive all incoming payments in real-time. WooCommerce and its parent company Automattic are strong partners for DePay thanks to their mission to drive decentralization further. We share their goal of democratizing commerce by removing barriers to entry based on income, gender, and geography.
The benefits for Woo merchants include:
Instant Cashflow: Received payments are settled and available for the merchants in real-time.
Automatic Conversion: Tokens are automatically converted (e.g. to stablecoins) as part of the payment transaction.
Unmatched token acceptance: By using DeFi, DePay grows the amount of accepted tokens by a hundredfold.
DePay pioneers Web3 Payments with the power of DeFi. Driving mass adoption of blockchain-based payments, DePay merges the core ideas of decentralization and interoperability with state-of-the-art Web3 technologies.
Givex | December 02, 2022
Givex Canada Corporation announced today its partnership with Enactus Canada, a national charity and the country's largest post-secondary experiential learning platform, to help shape entrepreneurial leaders who are passionate about advancing the economic, social and environmental health of Canada. Having had the privilege of judging both International and Canadian Enactus competitions it became very clear to me that Canada has a new generation of brilliant and motivated young leaders in our universities," said Don Gray, CEO of Givex. "I believe it is important to give these young leaders a platform to test their ideas and learn what it takes to not only have an idea or a dream but how to do the work needed to make it a reality. Enactus Canada is doing this for Canadians, and as part of a global organization, it is helping young leaders in many countries gain this same experience. Givex is proud to support Enactus Canada as a Gold Sponsor. Givex joins other leading Canadian companies in supporting Enactus Canada's mission of shaping generations of entrepreneurial leaders who see business as a way to address social issues.
"We are thrilled for Givex to join the Enactus Canada community,Not only are they a leading global fintech company, but their focus on diversity and inclusion is paramount in all that they do as an organization."
Allyson Hewitt, Enactus Canada President and CEO.
Givex is a global fintech company providing merchants with customer engagement, point of sale and payment solutions, all in a single platform. We are integrated with 1000+ technology partners, creating a fully end-to-end solution that delivers powerful customer insights. Our platform is used by some of the world's largest brands, comprising approximately 118,000 locations across more than 100 countries. Learn more at givex.com.
About Enactus Canada
Enactus Canada, a national charity and the country's largest post-secondary experiential learning platform, is shaping entrepreneurial leaders who are passionate about advancing the economic, social and environmental health of Canada. Guided by academic advisors and business experts, more than 3,000 post-secondary students led 188 community empowerment projects and business ventures last year in communities coast to coast, directly impacting over 30,000 lives.