Best CNP Program Outside the US
Its customers around the world have cast their votes and more chose AsiaPay as the Best CNP Program Outside the U.S. than any other service provider. Hong Kong-based AsiaPay was founded in 2000 and has expanded its focus operationally from an internet gateway provider to a full-service payment processor and PSP and geographically from Asia Pacific outward across the globe.
For consideration in the CNP Awards, AsiaPay designated its flagship program: the PayDollar eCommerce Service. The company said it designed the gateway to be integrated with other AsiaPay-developed value-added services including fraud prevention, a registration and reservation system, loyalty programs, online vouchers and marketing and CRM platforms. It can be configured to include a recurring payment model, an installment model, mobile payments, mobile POS or tokenization. In fact, AsiaPay says the solution’s flexibility and customizability are one of its greatest strengths.
“PayDollar eCommerce Service was designed with the needs and requirements of clients in mind,” the company says. “Should a client choose to avail of our value-added solutions, they will be able to access it within the administration module of PayDollar eCommerce Service. The goal is to provide clients with a single platform to manage for their e-commerce programs, whether in one country or across multiple regional offices in Asia.”
The company has garnered 70 percent market share in its home base of Hong Kong and has expanded in China, Taiwan, Singapore, Malaysia, Thailand, Philippines, Vietnam and India. It entered nine Asian countries in 2012 and plans to be in four more this year. Operating in so many different countries reinforces the necessity to offer features and payment methods that make sense for each different geography.
“AsiaPay understands that each business has different business models and each one has a different set of requirements,” they say. “PayDollar multi-currency service is connected to 50 bank/FIs in Asia and can provide a one-stop payment processing solution service to merchants covering a flexible mix of local Asia Pacific payment acceptance methods including all the major worldwide credit card brands, Internet banking transfers, mobile and digital wallets, prepaid products, cash and other offline payment options."
Despite aggressive growth, AsiaPay’s earnings have increased an average of 60 percent per year over the last four years.