There is so much buzz around the world about the Stimulus Package the new American President Barack Obama pushed for which the House ratified as a new Bill. Still, it is not a clear assurance that the US economy will bounce back immediately after implementation, but it does signal a start for a new round of hope for this nation and its impact across the globe. Experts say that 2009 would still be a very difficult year as every nation work ceaselessly to lift themselves up from the economic quagmire we are all in.
In the wake of these efforts, retailers and service providers scramble to get a hold of a much difficult market, using innovative and well-planned strategies to get new customers rolling in while maintaining existing ones. This year promises to be very challenging for the industry, for both offline and online retail and services, as strategies they used in the past may not work well in this new consumer environment.
Asian industries are well aware of this scenario and would do everything they can to keep up with the rest of the world. Part of these strategies is beefing up their e-commerce structure, as consumers begin to flock to online services clearly affected by the flood of TV and media hype from the West bombarding global airwaves. However, this hype is well founded on solid figures from western industries engaging in e-commerce and e-marketing. With online retail sales reaching up to 33.7 percent growth with online retail sales reaching figures in hundreds of billions of dollars, e-commerce is a strong force to reckon with on a global scale.
For Asian industries and merchants, whatever size of an enterprise they may be, are grateful for the emergence of the Internet in helping catapult their businesses into the global market. However, these merchants were faced with the difficulty of setting up a safe, secure and reliable online payment gateway to accommodate clients from around the world. This difficulty was considerable that most merchants forego going online with their products and services. In a similar note, several charitable and non-profit organizations have been looking for a reliable gateway to receive donations in various monetary currencies locally and across the globe but were faced with the same difficulty as merchants did.
Fig.1 Map showing AsiaPay’s regional presence in the whole of Asia
It is for this aspect in globalization that AsiaPay, the leading e-Payment service provider in Asia, has developed innovative products and solutions to cater for the online payment processing needs of both charitable and merchant institutions. Through AsiaPay’s e-Payment facilities, these enterprises are now able to receive mail, phone or Internet orders while accepting secure credit card or debit card from anywhere in the world. Figure1 above shows a map of AsiaPay’s growing regional presence in Asia.
AsiaPay’s advanced multi-currency and multi-channel payment gateway provides merchants, banks and institutions with a solution platform that includes an advanced payment authentication system, real-time fraud alert control and prevention technologies and a multi-currency conversion service. This is part of AsiaPay’s commitment of giving quality and value in its relationship and collaboration with business partners through synergizing and exploring business opportunities in order to achieve greater success in this very challenging market atmosphere.
Fig.2 AsiaPay’s strategic alliance with major banks and financial institutions
Figure 2 above shows AsiaPay’s strategic alliance with leading banks and financial institutions in Asia that would provide a comprehensive and convenient payment processing services and solutions for merchants and other institutions. This alliance allows AsiaPay and the merchant to accommodate whatever payment system the customer is using (i.e. traditional credit cards, debit cards, online payments, etc) and at the same time accommodating the customer’s preferred currency of payment. A classic example is the integration of PayDollar, AsiaPay’s innovative online payment service, with China’s UnionPay and AliPay payment platforms to allow merchants to accept secured payments from customers in Hong Kong and China using their existing debit cards from these payments platforms.
In its commitment to provide continuing excellent services with its business partners, AsiaPay’s management team of experts have teamed up with major players in the Internet and technology-based players in the region as shown in Figure 3 below. This alliance allows secure and integrated prepayment and micropayment platform solutions for a host of products and services in this industry including online ticketing, online shopping malls, gaming industries, digital content industries, mobile solutions, and prepaid services for various accounts and business applications.
Fig.3 AsiaPay’s strategic alliance with Internet and technology companies
AsiaPay
continues to strive for more excellence and deliver quality, safe,
secured and reliable e-payment services for the emerging industries
and enterprises in Asia and provide them with a single entity to
handle all their e-commerce needs. AsiaPay is truly your one stop
shop for everything e in
Asia.
By: Peter Allan Mariano
Posted By: Doreen Malbas - AsiaPay Payment Technology, Corp.
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