2C2P to Work with Diners Club International to Increase Acceptance at Southeast Asia’s E-Commerce Merchants
December 06 2016 - 11:00AM
Business Wire
- Singapore-headquartered 2C2P signs
online payment processing agreement with Diners Club International,
which is part of the Discover Global Network and a wholly owned
subsidiary of Discover Financial Services
- Alliance will extend acceptance of
cards running on the Discover Global Network to Southeast Asian
merchants
- Expands 2C2P’s global payment
processing capabilities, better positioning 2C2P to tap into the
projected US$2 trillion a year U.S. payments market (McKinsey,
2015)
2C2P, the leading Southeast Asian (SEA) payments services
company, and Diners Club International, a subsidiary of Discover
Financial Services and part of the Discover Global Network,
announced that 2C2P is a global acquirer for all cards running on
the Discover Global Network. 2C2P’s SEA merchants can now tap
Diners Club International, Discover and other Discover Global
Network cards as an additional payment method. 2C2P will increase
acceptance in the SEA region allowing Discover Global Network
cardholders to use their cards at an increased number of merchants
in the region.
2C2P will provide its merchants with single-source electronic
payment services for the acceptance of Discover Global Network,
which includes Discover cards from the United States, Diners Club
International as well as its affiliate cards such as BC Global Card
from South Korea, Elo Card from Brazil and RuPay from India.
Aung Kyaw Moe, founder and Group CEO of 2C2P, said: “With the
rise in global online retail and tourism, this agreement opens up
key international travel and entertainment markets such as Asia,
Europe and the U.S. to our Southeast Asian merchants. Cardholders
from Discover Global Network can now enjoy payments access to the
region’s travel, transport, tourism, retail and e-commerce
brands.”
“Discover Global Network continues to increase our merchant
acceptance footprint in Southeast Asia through working with
companies such as 2C2P because this region has an increasing number
of Discover Global Network cardholders as a result of our Diners
Club and RuPay networks,” said Ricardo Leite, vice president,
Discover Global Network. “2C2P specializes in e-commerce travel
merchants, an important sector to our cardholders.”
McKinsey estimates the annual revenue of the global payments
market is expected to increase by six percent from 2015 to 2020,
exceeding US$2 trillion by 2020. The Asia Pacific region, including
China, accounts for approximately 55 percent of the industry’s
revenue growth worldwide.
Discover Global Network is the third largest payments network in
the world1. With over 39 million merchant acceptance locations and
1.9 million ATM and cash access locations across 185 countries and
territories, Discover Global Network includes Discover, Diners Club
International, PULSE and affiliated networks.
“2C2P continues to look for market-leading partners around the
world, to deploy its best-in-class online payments processing
solutions and make it easier for consumers to transact with the
payment instrument of their choice,” added Aung.
About 2C2P
2C2P is a leading Southeast Asian (SEA) payment
services provider. It offers a number of comprehensive,
omni-channel payment services tailored to the needs of
financial institutions, e-commerce and m-commerce businesses and
retailers. 2C2P enables payment acceptance through credit and debit
cards, as well as through bank channels such as ATMs, internet
banking and mobile banking. It also facilitates cash acceptance via
payment counters, an important feature in SEA, a region
characterized by low card penetration. With 2C2P’s payment
services, retailers and merchants can now transact with both banked
and unbanked customers.
2C2P is a Payment Card Industry Data Security Standard
("PCI-DSS") Level 1 certified company since 2010. The company
processes billions of dollars in transactions for many
businesses. 2C2P has offices across Southeast Asia, including
in Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore,
Philippines and Thailand, as well as in Hong Kong. In 2015, 2C2P
was recognized by CBInsights as one of the world’s top 25
payment startups. It is a 2013 Deloitte Technology Fast 500
Award winner, recognized as one of Asia’s fastest growing
technology companies.
For more information, visit http://www.2c2p.com/
About Diners Club International Ltd.
Established in 1950, Diners Club International became the first
multi-purpose charge card in the world, launching a financial
revolution in how consumers and companies pay for products and
services. Today, Diners Club is a globally-recognized brand serving
the payment needs of select and affluent consumers, offering access
to more than 700 airport lounges worldwide, and providing
corporations and small business owners with a complete array of
expense management solutions. With acceptance in more than 185
countries and territories, millions of merchant locations and
access to more than 1 million cash access locations and ATMs,
Diners Club, as a part of the Discover Global Network, is uniquely
qualified to serve its cardmembers all over the world. Diners Club
International is a wholly owned subsidiary of Discover Financial
Services (NYSE: DFS), a direct banking and payment services company
with one of the most recognized brands in U.S. financial services.
For more information, visit www.dinersclub.com.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover card, America's cash rewards
pioneer, and offers private student loans, personal loans, home
equity loans, checking and savings accounts and certificates of
deposit through its direct banking business. It operates the
Discover Network, with millions of merchant and cash access
locations; PULSE, one of the nation's leading ATM/debit networks;
and Diners Club International, a global payments network with
acceptance in more than 185 countries and territories. For more
information, visit www.discover.com/company.
1 Retail Banking and Research, August 2015
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Media ContactsTee
HongdaLitmus PR for 2C2P+65 6220
5120hongda@litmuspr.com.sgorSarah Grage
SilbermanDiscover/Diners Club
International+1-224-405-6029@Discover_News
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