Bangkok--30 Apr--2C2P (Thailand)
2C2P reported impressive performance in 2018 when revenue and net profit doubled from the previous year, continuing the growth path seen in the past 5 years thanks burgeoning e-commerce industry and government supports. 2C2P is stepping up business expansion efforts, highlighting 3 new services - international money transfer, e-tax and e-bill, along with a new version of 3D Secure online card for greater security as well as strategies to attract more online shops across Southeast Asia and beyond.
Mr. Piyachart Ratanaprasartporn, executive director of 2C2P (Thailand) Co., Ltd., a leading provider of e-commerce payment solutions in Southeast Asia, revealed that the Group's service revenue exceeded Bt1,700 million in 2018, doubling from the previous year. The number of online transactions handled by the company's network hit 20 million, valued totally more than Bt100 billion.
2C2P (Thailand) generated over Bt700 million in revenue in 2018 and over Bt280 million in the first quarter of 2019, up by nearly 100% from the corresponding periods a year earlier. Customers in the aviation industry - airlines and ticketing offices - contributed about 70% of total revenue, followed by large-sized retailers and online marketplaces in Thailand and overseas. The revenue was driven by continued growth in the e-commerce industry, particularly in Thailand where the value of B2C (business to consumer) segment increased by more than Bt100 billion. A report by Google and Temasek showed Southeast Asia's e-commerce industry expanded by more than 62% per annum in the past 3 years and forecast continued growth in the years ahead.
Mr. Piyachart said: "To enhance our competitiveness and strengthen our operations, 2C2P this year emphasizes a strategy on online transaction innovations such as pre-paid cards, e-wallets, international transfers, 3DS security system, innovative payment platforms and QR Payment."
Under 4 key brands - PGW, 123, 2C2P Plus and easyBills, the company provides a diverse range of services for various target groups such as credit/debit card payments; deduction from bank accounts; e-wallet; cash payments at payment counters; the issuance of pre-paid MasterCard and gift cards; and e-Tax invoice. Target customers are medium and large shops that demand integrated and safest payment solutions.
PGW (Payment Gateway) deals with online payments via debit and credit cards as well as internationally-accepted e-wallets of Visa, MasterCard, JCB, AmericanExpress, Diners, Union Pay, Alipay, and WeChat. Main target users are enterprises selling products on monthly installments, providing monthly subscription services, or those offering payments via QR Code.
123 (one two three) is an alternative online payment service for those having no cards or preferring a no-card option. It allows payments via bank account deduction, domestic e-wallet accounts, or cash payments at over 350,000 payment counters throughout Southeast Asia.
2C2P Plus is a business unit of the Group providing electronic wallet services with permission from the Bank of Thailand. Two card issuance platforms are on offer: open-loop platform for shops in general for the issuance of pre-paid cards, MasterCard cards and etc.; and close-loop platform for the issuance of gift cards and others for companies which issue own cards.
easyBills easyBills is an extended part of an online credit card-based payment platform for utility services - electricity, water, telephone, toll top-up and mobile phone top-up. The service, originated in Thailand, is now available in Myanmar and will be soon extended to other countries in the region. is an extended part of an online credit card-based payment platform for utility services - electricity, water, telephone, toll top-up and mobile phone top-up. The service, originated in Thailand, is now available in Myanmar and will be soon extended to other countries in the region. The platform is also open for linkup with shops and companies requiring own payment system for their products and services.
Mr. Piyachart added that with the 4 principal brands, 2C2P targets to promote its brands primarily in Southeast Asia. The company currently operates with offices in 8 countries - Thailand, Myanmar, Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Hong Kong. In all the countries, its platforms are connected with local banks or payment partners, to expand and strengthen its payment network before further expansion to other countries.
In 2019, localized payments will be promoted. For instance, PromptPay will be encouraged to reduce shops' operating cost and increase consumers' convenience. Trans-Asean collaboration is also sought to promote this payment channel. Meanwhile, the card-based online payment is being improved for greater convenience, security and speed. In this regard, the 3DS Version 2 technology is developed, to connect card issuing banks and their customers with Payment Gateway. 2C2P is one of service providers endorsed by leading credit card networks.
The company is also focusing on further improving its integrated payment solutions, with the development of new services involving international money transfers and electronic issuance of tax invoices/receipts.
3D Secure security system for online card usage can serve online transactions with credit cards issued by leading networks like Visa, MasterCard, UnionPay, American Express and JCB. The system promises greater security, preventing the usage of others' cards for transactions. It hence clears shops' concerns that orders will be rejected by card issuers. The latest version is also launched with a feature that allows easier, faster and more secure transactions.
International money transfer, with an approval from the Bank of Thailand, will provide foreign residents in Thailand to conveniently make electronic transfers.
e-Tax / e-Bill deals with the issuance of digital receipts and tax receipts. The PDF-formatted receipts are delivered via e-mail, to help reduce the delivery cost.
2C2P foresees a brighter economic outlook for Thailand in 2019 thanks to government supports and an increasing investment in private-sector online systems. Meanwhile, online orders tend to escalate as more consumers avoid travelling to physical shops. The company is confident that the positive factors will further boost the online shopping industry in 2019 and the revenue growth is expected to double as in the previous year.
About 2C2P
2C2P is a leading SEA payment service provider that offers omni-channel payment solutions, allowing merchants to accept local and international payments through credit and debit cards, bank channels (ATMs, iBanking and mBanking) and cash acceptance via payment counters. With our comprehensive solution, merchants can now transact with both banked and unbanked customers.
2C2P was certified for Payment Card Industry Data Security Standard (PCI-DSS) Level 1 in 2010. The company has served payments worth billions of baht through offices in Hong Kong and across Southeast Asia including Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, the Philippines and Thailand. For more information, visit https:/www.2C2P.com.