2C2P Company Profile

Background

Overview

2C2P is a Singapore-based financial services company specializing in comprehensive payment solutions for businesses across Southeast Asia. Founded in 2003 by Aung Kyaw Moe, the company has established itself as a leading payment service provider, offering a wide range of services tailored to the unique needs of the region. 2C2P's mission is to simplify payments for businesses, enabling them to securely accept and process transactions through a unified platform. Its vision is to drive digital payment adoption and innovation, fostering economic growth and financial inclusion across Southeast Asia. The company operates within the e-commerce and financial services industries, playing a pivotal role in the digital payment ecosystem.

Industry Significance

2C2P holds a significant position in the Southeast Asian payment services market, serving a diverse clientele that includes major corporations, regional airlines, travel companies, and global retailers. Its extensive network and tailored solutions have made it a preferred partner for businesses seeking to navigate the complexities of the regional payment landscape.

Key Strategic Focus

Core Objectives

2C2P aims to provide seamless and secure payment processing solutions that cater to the diverse needs of businesses operating in Southeast Asia. The company's strategic focus includes expanding its service offerings, enhancing technological capabilities, and broadening its market reach to support the growing demand for digital payment solutions.

Areas of Specialization

The company specializes in payment acceptance, issuing, payouts, and digital goods aggregation. It supports over 250 payment methods, including electronic payments, mobile payments, credit cards, and offline payments, catering to a wide array of transaction preferences. Additionally, 2C2P offers value-added services such as bill payments, digital goods reselling, and loyalty programs, providing a comprehensive suite of solutions for businesses.

Key Technologies Utilized

2C2P leverages advanced technologies to ensure secure and efficient payment processing. The company migrated its services to Amazon Web Services (AWS) in 2015, enhancing scalability and reliability. It also employs robust security protocols, including data encryption and 3D Secure authentication, to protect transaction data and maintain compliance with industry standards.

Primary Markets Targeted

The company's primary markets include Thailand, Singapore, Malaysia, Indonesia, the Philippines, and other Southeast Asian countries. 2C2P's solutions are designed to address the unique challenges and opportunities within these markets, supporting businesses in sectors such as e-commerce, financial services, airlines, travel, hospitality, and retail.

Financials and Funding

Funding History

Since its inception, 2C2P has secured multiple rounds of funding to support its growth and expansion initiatives. In 2009, the company received its first seed investment, marking the beginning of its financial backing. In November 2019, 2C2P raised $52 million in a funding round led by an international consortium of investors, including the International Finance Corporation (IFC), Cento Ventures, and Arbor Ventures. This funding aimed to accelerate the company's growth by investing in new technologies, hiring local talent, and consolidating market share in Southeast Asia.

Recent Funding Rounds

In April 2022, Ant Group, the parent company of Alipay, acquired a majority stake in 2C2P, forming a strategic partnership to further digital payment adoption and innovation in Southeast Asia. This partnership connected 2C2P's extensive merchant network with Ant Group's Alipay+ platform, extending its payment options to include more e-wallets and local payment methods.

Notable Investors

Notable investors in 2C2P include the International Finance Corporation (IFC), Cento Ventures, Arbor Ventures, and Ant Group. These investors have played a crucial role in supporting the company's growth and strategic initiatives.

Utilization of Capital

The capital raised has been utilized to enhance 2C2P's technological infrastructure, expand its service offerings, hire local talent, and strengthen its market presence across Southeast Asia. The partnership with Ant Group is expected to further accelerate the company's international expansion and innovation efforts.

Pipeline Development

Key Pipeline Candidates

2C2P's pipeline development focuses on expanding its payment acceptance capabilities, integrating additional payment methods, and enhancing its value-added services. The company is also exploring opportunities in digital currencies and blockchain technology to stay at the forefront of payment innovation.

Stages of Development

The company is in the implementation and integration stages for several new payment methods and value-added services. Collaborations with Ant Group have facilitated the integration of Alipay+ into C2P's platform, enabling merchants to accept a broader range of payment options.

Target Conditions

2C2P aims to address the evolving needs of businesses in Southeast Asia by providing flexible and scalable payment solutions that can adapt to various industries and transaction volumes.

Anticipated Milestones

Key milestones include the successful integration of additional payment methods, expansion into new markets, and the development of innovative payment solutions that enhance the customer experience.

Technological Platform and Innovation

Proprietary Technologies

2C2P has developed proprietary technologies that enable seamless payment processing across multiple channels, including online, mobile, and offline platforms. The company's platform supports over 250 payment methods, providing businesses with a comprehensive solution to meet diverse customer preferences.

Significant Scientific Methods

The company employs advanced data analytics and machine learning algorithms to monitor transaction patterns, detect fraud, and optimize payment processes. These methodologies enhance the security and efficiency of the payment ecosystem.

AI-Driven Capabilities

2C2P is exploring the integration of artificial intelligence to further enhance its payment solutions, focusing on areas such as predictive analytics, customer behavior analysis, and personalized payment experiences.

Leadership Team

Executive Profiles

Aung Kyaw Moe: Founder and Group CEO of 2C2P. Aung Kyaw Moe is a Myanmar-born entrepreneur who established 2C2P in 2003. Under his leadership, the company has grown into a leading payment service provider in Southeast Asia.

Piyachart Ratanaprasartporn: CEO of 2C2P. Piyachart has been instrumental in driving the company's strategic initiatives and expansion efforts across the region.

Key Contributions

The leadership team has been pivotal in securing strategic partnerships, such as the one with Ant Group, and in steering the company towards technological innovation and market expansion.

Leadership Changes

Specific details regarding recent leadership changes are not publicly disclosed.

Competitor Profile

Market Insights and Dynamics

The Southeast Asian payment services market is experiencing rapid growth, driven by increasing internet penetration, mobile device usage, and a shift towards digital transactions. Businesses are seeking reliable and secure payment solutions to cater to a diverse and tech-savvy consumer base.

Competitor Analysis

Key competitors to 2C2P include Omise, iPay88, DOKU, Stripe, YuuPay, RDP, PaysBuy, Square, PayPal, WePay, Adyen, Klarna, MOLPay, Fidelity Payment Services, Revel, Vantiv, Sterling Payment Technologies, Total Merchant Services, and Integrity Payment Systems. These companies offer similar payment processing services and operate in overlapping markets. 2C2P differentiates itself through its extensive regional expertise, comprehensive service offerings, and strategic partnerships.

Strategic Collaborations and Partnerships

Significant Collaborations

Ant Group: In April 2022, Ant Group acquired a majority stake in 2C2P, forming a strategic partnership to enhance digital payment adoption and innovation in Southeast Asia.

Impact on Market Position

This partnership has expanded 2C2P's reach, enabling it to offer a broader range of payment options and access a larger merchant base, thereby strengthening its position in the market.

Operational Insights

Strategic Considerations

2C2P's strategic considerations include maintaining a strong focus on regional market dynamics, ensuring compliance with local regulations, and continuously innovating to meet the evolving needs of businesses and consumers.

Competitive Advantages

The company's deep understanding of Southeast Asian markets, extensive network of payment methods, and robust technological infrastructure provide it with a competitive edge in delivering tailored payment solutions.

Strategic Opportunities and Future Directions

Expansion Plans

2C2P plans to expand its services into new markets, leveraging its partnership with Ant Group to facilitate cross-border payments and enhance its global presence.

Innovation Initiatives

The company is committed to investing in emerging technologies, such as artificial intelligence and blockchain, to develop innovative payment solutions that address the future needs of businesses and consumers.