CIOAdvisor Apac

Payment Asia: Expanding Business Scope for Merchants

Falco So, Business Development Manager

“At Payment Asia, we feel that a payment gateway has the need to evolve itself in becoming more than just a payment gateway,” says Falco So, Business Development Manager, Payment Asia. With extensive experience in delivering payment gateway support to its clientele, Hong Kong-based Payment Asia works with the mission to go beyond providing payment gateway services to merchants and helping them with increasing the business volume and expanding the business scope.

The immense advancement of technology concerning new payment methods, big data analysis, cryptocurrency payment gateways, and blockchain translates to the concept of Payment Asia. With new payment methods coming in, service providers need to understand the merchants’ perspective to provide them an optimal solution. Aligning well with this ideology, Payment Asia helps the merchants in identifying the right payment methods and extends tailor-made solutions to boost their sales cycle.

The company first analyzes the various requirements of merchants with regards to expanding their reach and business scope, and accordingly provides cloud services and real-time traffic monitoring support coupled with unique optimal load balance solutions to them. These services provide a better experience not only to the merchants but also to their clients. The company employs latest technologies to facilitate merchants with lesser networking malfunctioning downtime, which remains a key concern for them.

Payment Asia works with the mission to go beyond providing payment gateway services to merchants and helping them with expanding their business scope

In 2017, Payment Asia ensured that the downtime was approximately zero for all the packages it supports.

The company makes it a point to appropriately comprehend the merchants’ concerns and address them in the best possible manner. Falco believes that maintaining good customer relationships and fulfilling their needs is the key for Payment Asia. Thus, the company has been making every possible move to ensure that its clients scale and grow across geographies. The firm has helped several merchants in expanding to different locations. “From mid 2017 till date, we have already helped launch approximately 15 percent of our merchants that were initially just geographically focused on the China region into tackling the South East Asia market,” adds Falco.

Shifting the merchants’ focus from Chinese market, Payment Asia encouraged them to target new geographies in order to provide them with better prospects. Payment Asia has helped merchants expand in countries like Malaysia, Indonesia, and Thailand, providing them the capability to employ a single integrated platform across these countries. These merchants have, on an average, witnessed a quarter-by-quarter growth of nearly 35 percent. One of these merchants indicated a remarkable uptick of over 60 percent in volume in the last quarter of 2017. “We sincerely believe that the ability of our tools to pinpoint lost sales and our analysis based on spending patterns has helped the merchants in obtaining such figures,” mentions Falco.

This year, the firm will continue to help its merchants in expanding their business scope and will work towards adopting the latest technologies. Payment Asia is looking forward to integrating artificial intelligence (AI) into its services in the form of chat bots to solve merchant queries in a real-time fashion. The company also plans to introduce a new business arm called Data Tech to manage these aspects. Another key focus area for Payment Asia is to conduct R&D on big data analysis to analyze the spending patterns of merchants to increase the conversion and shorten the lead to sales cycle.