via NewMediaWire
- Society Pass Incorporated ("SoPa”)
(
Nasdaq: SOPA), Southeast Asia’s (SEA) next-generation,
data-driven, loyalty, fintech and e-commerce ecosystem, today
announced a strategic payments partnership with 2C2P, a global
full-suite payments platform headquartered in Singapore, to drive
e-commerce shopping in SEA. Through this partnership, Society
Pass’s loyalty application would be able to offer 2C2P’s wide array
of alternative payment options to customers based in the
Philippines and Indonesia.
2C2P operates payment services in eight markets
across Asia and supports over 250 payment options, from cards to
cash to e-wallets. Over the years, 2C2P has established and
nurtured an extensive network of partners globally, adhering to
local and international regulatory compliance standards. The
current network includes all major local and international credit
cards, over 17 major digital wallets and QR payment platforms, and
various alternative payment methods. 2C2P’s customers can use their
preferred payment method via cards, digital wallets, or
over-the-counter at over 400,000 locations in Asia. The extensive
payment solutions meet the needs of businesses from diverse
sectors, including airlines, insurance, marketplaces, retail,
F&B, and hospitality.
Amidst the pandemic and its recovery, the
adoption of digital payments in the region has accelerated while
cash usage has continued to decline. Propelled by a surge in
digital commerce and government incentives/initiatives, providers
of domestic payments, mobile wallets, and buy-now-pay-later (BNPL)
operators, are all witnessing increased adoption by businesses.
Forecasts suggest SEA’s digital economy is experiencing impressive
growth rates from 2021 to 2026 and will outpace China, Europe, and
the US. According to an IDC InfoBrief commissioned by 2C2P, SEA’s
digital economy spending will rise by 121% by 2026, and digital
payments will reach 92% of total digital economy payments by 2026,
up from 80% in 2020.
Rokas Sidlauskas, Chief Marketing Officer of
SoPa, commented, “We are excited to announce this strategic
payments partnership with 2C2P as it enables Society Pass to offer
more flexible and convenient methods to pay for goods and services
within our ecosystem to our customers. By integrating leading
Southeast Asia digital e-wallets such as AliPay (regional), Touch
n’ Go (Malaysia), Momo (Vietnam) or GCash (Philippines) just to
name a few into our ecosystem, Society Pass enables millions of
customers to access our platforms, ranging from travel (NusaTrip),
to e-commerce (Leflair.com), to telecoms (Gorilla Networks), and to
digital advertising (Thoughtful Media Group). This is especially
important considering that we operate in Southeast Asian markets,
where unfortunately, over 75% of people are unbanked and do not
possess debit or credit cards.”
Mr. Sidlauskas added, “In partnering with 2C2P,
we automatically increase the potential customer-base within
Southeast Asia by millions of potential users. We are excited by
the prospect of adding value by offering our services to them.”
Rachelle Alexis Lim,
Executive Director of 2C2P, said, “As
we embark on this strategic partnership with Society Pass, we look
forward to enhancing the payments experience of SOPA's consumers
across SEA. This collaboration with SoPa aligns perfectly with our
mission to drive e-commerce growth in the region and globally,
revolutionising how people transact and unlocking the potential of
the digital economy for all.”
About 2C2P2C2P 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. For more information on 2C2P, please visit:
https://2c2p.com/
About Society Pass Inc.Founded in 2018 as
a data-driven loyalty, fintech and e-commerce ecosystem in the
fast-growing markets of Vietnam, Indonesia, Philippines, Singapore
and Thailand, which account for more than 80% of the SEA
population, and with offices located in Angeles, Bangkok, Ho Chi
Minh City, Jakarta, Manila, and Singapore, Society Pass
Incorporated (Nasdaq: SOPA) is an acquisition-focused
holding company operating 6 interconnected verticals (loyalty,
digital media, travel, telecoms, lifestyle, and F&B), which
seamlessly connects millions of registered consumers and hundreds
of thousands of registered merchants/brands across multiple product
and service categories throughout SEA.
Society Pass completed an initial public
offering and began trading on the Nasdaq under the ticker SOPA in
November 2021.
SoPa acquires fast growing e-commerce companies
and expands its user base across a robust product and service
ecosystem. SoPa integrates these complementary businesses through
its signature Society Pass fintech platform and circulation of its
universal loyalty points or Society Points, which has entered beta
testing and is expected to launch broadly at the beginning of 2023.
Society Pass loyalty program members earn and redeem Society Points
and receive personalised promotions based on SoPa’s data
capabilities and understanding of consumer shopping behaviour. SoPa
has amassed more than 3.3 million registered consumers and over
650,000 registered merchants and brands. It has invested 2+ years
building proprietary IT architecture to effectively scale and
support its consumers, merchants, and acquisitions.
Society Pass leverages technology to tailor a
more personalised experience for customers in the purchase journey
and to transform the entire retail value chain in SEA. SoPa
operates Thoughtful Media Group, a Thailand-based, social
commerce-focused, premium digital video multi-platform network;
NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure,
Vietnam’s leading provider of hotel management and payment
solutions; Gorilla Global, a Singapore-based, mobile network
operator; Leflair.com, Vietnam’s leading lifestyle e-commerce
platform; and Pushkart.ph, a popular grocery delivery company in
Philippines.
For more information on Society Pass, please
visit:
Website at https://www.thesocietypass.com or
LinkedIn at
https://www.linkedin.com/company/societypass or
Facebook at
https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass
or
Instagram at
https://www.instagram.com/societypass/.
Cautionary Note Concerning Forward-Looking
StatementsThis press release may include “forward-looking
statements,” within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. All statements other than statements of
historical fact included in this press release are forward-looking
statements. When used in this press release, words such as
“anticipate”, “believe”, “estimate”, “expect”, “intend” and similar
expressions, as they relate to us or our management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by,
and information currently available to, the Company’s management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company’s filings with the SEC as well as
anticipated sales growth in Indonesia and the growth of the
Indonesian economy. All subsequent written or oral forward-looking
statements attributable to us or persons acting on our behalf are
qualified in their entirety by this paragraph. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company’s registration statement and
prospectus relating to the Company’s initial public offering filed
with the SEC. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
Media Contacts:
Rokas SidlauskasChief Marketing
Officer
rokas@thesocietypass.com
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