In this article we'll take a look at our comprehensive range of new and existing payment solutions for the Asian market, linking multiple territories and billions of potential customers through our centralised payment gateway:
Alipay
Alipay is a digital wallet in China that has more than a billion active users worldwide. Users can pay on the web or on a mobile device using login credentials or their Alipay app. Alipay payments have a low risk of fraud because the customer must authenticate the payment. It works as a mobile wallet-based payment method, similar to the likes of Apple Pay or Google Pay.
Some of our other solutions that fall under Alipay are:
Asian countries supported:
DuitNow
A Malaysian real-time payments network, DuitNow allows users to transfer money between their online banks and digital wallets with a mobile number, National ID number or business registration number.
Countries supported:
E-RMB Pay
The first digital currency to be issued by a major economy after testing since 2021, Digital renminbi, or Digital Currency Electronic Payment, is a central bank digital currency issued by China's central bank, the People's Bank of China.
FPX
FPX is one of Malaysia’s most popular online payment methods with nearly 90 million transactions taking place in 2018 alone. Financial Process Exchange (FPX) is a Malaysia-based payment method that allows customers to complete transactions online using their bank credentials. Bank Negara Malaysia (BNM), the Central Bank of Malaysia, and 11 other major Malaysian financial institutions are members of the PayNet Group, which owns and operates FPX.
In order to pay with FPX, customers are redirected to their online banking destination where they have to perform two-step authorisation. The specific customer experience varies depending on their bank. The FPX payment flow is well understood, which Malaysian customers are well used to.
Countries supported:
GCash
The number one downloaded wallet in the Philippines GCash enables customers to shop online and in-store quickly while on the go.
Countries supported:
Local Bank Transfer
Our local bank transfer solutions integrate directly with your clients online banking system. Online banking is crucial across Asia, making up 7% of all online transactions. With the rise of e-commerce during the pandemic, there are clear signs of the rise in online and digital payments in Asia.
Countries supported:
Maya
With over 50 million registered users Maya is the second largest e-wallet in the Philippines just behind that of GCash.
MOMO PAY
The most popular digital wallet in Vietnam with over 23 million active users customers store money on their mobile wallet and use it to pay for goods or services purchased on merchants websites. Its primary product includes a mobile app that allows customers to conduct transactions directly from their mobile devices and is a must-have payment method for any business looking to expand in Vietnam.
Countries supported:
Net Banking
Netbanking, also known as internet banking, is a digital method to conduct banking transactions by the means of the internet. While traditional physical banking, is still the most used form of banking in India, Net banking is becoming an essential aspect of India’s banking activities. Most banks in India have adopted the technology, or are in the process of adopting the technology, to meet the banking needs of consumers.
Countries supported:
P2P Bank Transfer (Peer to Peer)
Peer to peer (P2P) payment apps have emerged as a convenient alternative to cash payments, as they enable digital payments and money transfers between consumers in an easy and quick manner. Widely used across China this solution allows for quick and easy transfers between customer and merchant. Depending on the service, a P2P payment can be completed in a few minutes to a couple of days. It should be noted that only consumers using the same P2P system can transfer funds among themselves.
Countries supported:
P2C Bank Transfer (Peer to Corporate)
A real-time payments method that allows individuals to transfer funds to specific local business corporate accounts. With this solution we tend to see higher ticket sizes available, and funds settle at the time they appear in the account.
Countries supported:
Quick Collect
Quick Collect is payment method that supports payments by using branded China UnionPay (CUP) payment cards issued by Chinese and foreign banks within the international payment system CUP.
QR Payment
Quick Response Code Payment is a quick and easy solution with greater storage capacity compared to standard barcodes. Southeast Asian countries are beginning to successfully link their payment systems. QR code payments can be used across borders, without the sting of fees or the burden of cards and cash.
Countries supported:
QRIS
Created by the Bank of Indonesia, Quick Response Code Indonesia Standard uses QR codes to facilitate cashless transactions for over 25 million merchants and over 30 million people.
Countries supported:
TrueMoney
Providing services for over 30 million underbanked South East Asian markets, TrueMoney is a mobile wallet that allows customers to pay bills, top up mobile phones, make money transfers and pay via barcodes at participating merchants.
Countries supported:
UPI
Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood. In the roughly seven years since it was launched, UPI has accrued 260 million users and been a decisive factor in India’s embrace of cashless payments thanks to its ease of use and interoperability.
Countries supported:
VA (Virtual Account) Deposit
Virtual Accounts is a very popular local payment method in Indonesia and South Korea that allows customers to pay from ATMs, Internet banking or mobile banking using a unique 16-digit payment code. Virtual accounts are similar to bank account numbers, however this method does not expose users' bank account information. With 60-80% of transactions in Indonesia occurring via bank transfer VA makes it easier and faster for businesses to identify who made each transaction.
Countries supported:
ViettelPay
One of the fastest growing fintech apps in Vietnam, the oragnisation offers mobile banking services, a digital banking platform, cash withdrawal from ATMs and domestic bank transfers.
ZaloPay
A leading e-wallet for Vietnamese users and with almost 70% of Vietnamese people being unbanked and just 4% having a credit card support for locally preferred alternative payment methods is crucial to e-commerce success.
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