2C2P

2C2P is a Singapore-headquartered global payments platform that works with global financial institutions, tech giants, retail enterprises, e-commerce and m-commerce merchants. It operates across Southeast Asia and Europe, including in Cambodia, Hong Kong,[2][3] Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore and Thailand.

2C2P
TypePrivate
IndustryE-commerce payment system, Financial services
Founded2003 (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

History

2C2P (Cash & Card Payment Processor) 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] It has a raised more than US$50 million to date with the latest funding round done in 2019.[19]

Products and services
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.[20][21][22]

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.[23][24][25]

AIS mPay MasterCard,[26] a virtual credit card payment service in Thailand, offered together with Advanced mPay (the mobile payment arm of AIS), MasterCard and Thanachart Bank.[27]

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.[28][29][30][31]

'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.[32] easyBills was also launched in Myanmar in June 2015.[33]

Partnerships
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).[34][35]

Central Group, a retail conglomerate from Thailand,[36] appointed 2C2P to implement payment services for five of their retail brands - B2S, Central, OfficeMate, Robinson and SuperSports.[37]

"Citizen Card", the first prepaid card issued by Myanmar Citizens Bank, and the first card[38] in the country with a real-time mobile application.[39][40]

Myanmar Payments Union and 2C2P launched Myanmar's first e-Commerce payment platform[41][42][43][44] in February 2015.[45]

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.[46][47]

See also

References
  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.
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  25. "2C2P expands 123 e-commerce service to 320,000 locations". telecompaper.com. Retrieved 2016-12-04.
  26. Thailand, Nation Multimedia Group Public Company Limited, Nationmultimedia.com. "SCB, FamilyMart join for bill payment - The Nation". Retrieved 2016-08-23.
  27. "PressReader.com - Connecting People Through News". pressreader.com. Retrieved 2016-08-23.
  28. "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.
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  31. "Singapore Firm Launches Myanmar's First Mobile POS". Retrieved 2016-08-23.
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  34. "Thai Airways books online with 2C2P". Enterpriseinnovation.net. 2014-04-14. Archived from the original on 2015-04-03. Retrieved 2015-04-02.
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  38. "MasterCard brings prepaid credit card to Myanmar". Telecom Asia. 2015-07-23. Retrieved 2015-09-18.
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  42. "2C2P, Myanmar Payment Union launch ecommerce payment platform". thepaypers.com. Retrieved 2016-08-23.
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  44. "Myanmar online shoppers get new payment option | UAB Bank". unitedamarabank.com. Retrieved 2016-08-23.
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