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2C2P

Summary

2C2P is a financial services company headquartered in Singapore. The company primarily provides payment gateway services to businesses.[2][3]

2C2P
Company typePrivate
IndustryE-commerce payment system, Financial services
Founded2003; 21 years ago (2003)
FounderAung Kyaw Moe[1]
Headquarters
Singapore
ServicesPayment service provider, Payment processing, Payment gateway, Payment card, Mobile Payment
Number of employees
400 (2022)
Websitewww.2C2P.com

Overview edit

Businesses using 2C2P's platform include Lazada, Thai Airways International, and Lenovo.[2]

History edit

2C2P was founded in Bangkok, Thailand in 2003 by Myanmar-born computer programmer Aung Kyaw Moe.[4][5] In 2007, the company moved its headquarters to Singapore.[6]

In 2009, 2C2P first secured a seed investment.[7] 2C2P has since received financial backing from venture capitalists Amun Capital, GMO Venture Partners and Digital Media Partners.[3][8]

In 2012, 2C2P launched an alternative payment method called 123, a local-currency alternative payment channel for non-credit-card payment processing.[9][10]

In the fiscal year of 2014, the company processed over US$2.2 billion in transactions.[11] Also in 2014, 2C2P partnered with Mastercard to launch easyBills, a platform that enables cardholders to pay utilities, mobile, and other bills via smartphone or the web.[12][13]

In 2015, 2C2P completed the migration of its services to Amazon Web Services (AWS) and became the first online payment provider offering online credit card installments in Thailand.[14][15]

In 2018, the company partnered with five major corporations to launch the first QR code payment gateway in Thailand.[16]

In early 2020, 2C2P announced the launch of its investment arm, 2C2P.VC.[17] In late 2020, the company refreshed its branding and website to create a more international and accessible look and feel.[3]

In 2022, the company was named a participant in the Bank of Thailand's retail central bank digital currency (CBDC) pilot testing program.[18][19]

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.[20][21]

Products and services edit

2C2P provides payment acceptance, payouts, issuing, digital goods aggregation and reselling services.

The company supports 250 payment methods,[2] including electronic payments, mobile payments, credit cards, and offline payments.[22] The company also aggregates bill payments, digital goods and services - issuing wallets, cards and loyalty programs, and offering mobile top-ups, transportation tickets, and others.[23][24][25]

See also edit

References edit

  1. ^ "Aung Kyaw Moe - Founder, 2C2P". About.me. Retrieved 2 April 2015.
  2. ^ a b c "2C2P aims beyond Southeast Asia with Ant Group investment". Nikkei Asia. 28 April 2022. Retrieved 22 November 2022.
  3. ^ a b c "Tech in Asia - Connecting Asia's startup ecosystem". techinasia.com. Retrieved 23 August 2016.
  4. ^ "Influential Leaders: Aung Kyaw Moe". AACSB International (AACSB). Retrieved 11 November 2022.
  5. ^ "Stung by one-baht payment for first project done, Aung's 2C2P works to unite Southeast Asia payments". The Edge Singapore. Retrieved 22 November 2022.
  6. ^ "2C2P launches hiring, brand refresh initiative as it gears up for global expansion". Tech in Asia. 4 December 2020. Retrieved 11 November 2022.
  7. ^ "'E-payment solutions might have more market share than Visa and MasterCard': Q&A with 2C2P founder Aung Kyaw Moe". KrASIA. 19 November 2020. Retrieved 11 November 2022.
  8. ^ "Singapore: Payments firm 2C2P gets strategic investment from SafeCharge, to gain access to global e-commerce - DealStreetAsia". DealStreet Asia. Retrieved 23 August 2016.
  9. ^ "2C2P launches 123 Service to diversify online payment options". RYT9 Thailand News. 24 August 2012. Retrieved 11 November 2022.
  10. ^ "2C2P's Online-To-Offline E-commerce Service '123' Now Available At Over 320,000 Locations". Techsauce.co. 7 November 2016. Retrieved 11 November 2022.
  11. ^ "UnionPay International partners 2C2P to target Southeast Asian ecommerce market". The Paypers. 2 November 2015. Retrieved 11 November 2022.
  12. ^ "2C2P, MasterCard launch easyBills service". Nation Thailand. 24 February 2014. Retrieved 11 November 2022.
  13. ^ "MasterCard holders to pay their bills via 2C2P's easyBills in Thailand". e27. 20 February 2014. Retrieved 11 November 2022.
  14. ^ "2C2P: Building a powerhouse". Bangkok Post. 25 October 2016. Retrieved 22 November 2022.
  15. ^ "2C2P Case Study". Amazon Web Services. Retrieved 22 November 2022.
  16. ^ "QR code payment now via credit card". Bangkok Post. 7 March 2018. Retrieved 11 November 2022.
  17. ^ "2C2P to accelerate SEA expansion with new investment arm, says group CEO". DealStreet Asia. 22 July 2020. Retrieved 11 November 2022.
  18. ^ "Progress of Retail Central Bank Digital Currency (Retail CBDC) Development". Bank of Thailand. 5 August 2022. Retrieved 22 November 2022.
  19. ^ Ossinger, Joanna; Abraham, Thomas Kutty (5 August 2022). "Bank of Thailand Plans Retail CBDC Pilot Test by End of Year". Bloomberg. Retrieved 22 November 2022.
  20. ^ Forbes (19 April 2022). "Alibaba's Ant Group Buys Majority Stake In Singapore Fintech 2C2P". Forbes. Retrieved 11 November 2022.
  21. ^ "China's Ant Group to take up majority ownership of payments platform 2C2P". Reuters. 18 April 2022. Retrieved 19 April 2022.
  22. ^ "Payment Acceptance". 2C2P. Retrieved 15 April 2021.
  23. ^ "Deutsche Bank launches state-of-the-art payments platform through 2C2P in Thailand – Deutsche Bank". Deutsche Bank. Retrieved 15 April 2021.
  24. ^ "Issuing". 2C2P. Retrieved 11 November 2022.
  25. ^ "Digital Goods & Bills". 2C2P. Retrieved 11 November 2022.

External links edit

  • Official website

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