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The Silicon Review

Asia-Pacific is long considered to be a robust engine of global economy and trading, but until the late 1990s and early 2000s, either in Hong Kong, other parts of Greater China, or Southeast Asia, the region lacks payment gateways for facilitating intra and inter-regional trade. To ride on the express of China business and Asian economic boom, a group of ingenious minds established Payment Asia (PA) in 1999, the era of Web 1.0.

Payment Service Is No More about Payment Only

If globalization means goods and services are simultaneously exchanged from one to another across the borders and regions rapidly, then the positive payment experience behind is the lubricant that is smoothing the transactions.

We are living in an Internet-driven world where our daily activities are connected with smartphones, e-mails, social media and streaming media. Merchants who are unable to integrate mobile devices, social media, and traditional payment gateways are deemed to lag behind the fast-moving FMCG and F&B markets.

Being a renowned and reliable payment solution provider for merchants, Payment Asia is bringing new elements into its payment methods to ensure merchants to be competitive and flexible to react with the instant changes in the interconnected market.

“Our strategy is diverting customer traffic into merchants’ revenues, with the full of support of our qualified artificial technology (AI). We are embracing omnichannel payment solutions.”

OmniChannel Experience: The Latest Trend of Payment Solution

At present, we live in the era of Web 3.0, the semantic web and every electronic media source are being streamlined into one massive source. With social media, mobile devices and improved mobile connections, people are now getting used to doing shopping anywhere and at any time with their smartphones or tablets.

Omnichannel, from the sales and retailing perspective, is defined as providing an integrated and seamless consumption experience for customers by flexibly using from bricks and mortar shop window, printed media and TV, to websites, mobile devices, and social media, and the data tells us that global customers are shifting to mobile shopping.

2017 Information Economy Report at the United Nations Conference on Trade and Development (UNCTAD): Digitalization, Trade, and Development anticipated credit and debit cards would drop to less than half of the total share in global payment, given the rising popularity of China-based rivalries Alipay and Tenpay, and US-based PayPal amid the exponential growth of e-commerce. This year in February, Allied Market Research evaluated the global mobile payment market amounted $601 billion and will reach 4,574 billion by 2023, with 33.8% compound annual growth rate from 2017 to 2023. Also, The Asia-Pacific is expected to have the highest growth rate among other regions around the world. This is the reason why Payment Asia is moving forward at a jet speed to catch the mobile payment wave.

Combining Payment with Digital Marketing and AI Technology

For strategic development, Payment Asia establishes a digital marketing team to synergize payments solution and digital marketing. Merchants who are now using Payment Asia’s payment services are presented with a comprehensive and tailor-made package about how to drive up their revenues and sales with its long-time reliable and efficient payment methods, as well as its self-developed big data analytics and artificial intelligence technology.

To reap the benefits of the daily traffic, the dedicated team of Payment Asia collects customers’ data along the online traffic and then analyzes and predicts the purchasing behavior before choosing the most effective ways to campaign goods and services.

To divert customer traffic into merchants’ revenues, Payment Asia has an artificial intelligence team to assist the development of digital marketing. The company’s newly developed customer service chatbot can handle numerous customer inquiries across multiple channels (website, Facebook, WhatsApp, etc) in a very short period saving time and resources of merchants. Also, Payment Asia’s AI technology is helpful for fraud detection in merchants’ businesses.

Integrating with the elements of digital marketing and AI technology, along with the sales figures, Payment Asia would produce detailed reports showing consumption habit, customer demographics, and customer awareness for merchants.

“We are convinced that the more data we can provide for merchants, the more flexibility and strategies merchants can have, ultimately the better chance to bring more sales and profits to merchants. It is exactly the motto of Payment Asia.”

Crafting a Bright Future in Blockchain

With the advancement in blockchain development, Payment Asia is exploring the potential of the new-era technology for merchants in different business sectors and looking forward to implementing the cryptographic and decentralized technology in the Web 3.0’s e-commerce practices, such as smart payment with better internet security and privacy.

Once the peer-to-peer (P2P) technology is widely applied, the time and cost of intra and international trading and transaction would be saved. Payment Asia envisages that the day of P2P exchange of goods and services would come to daily life soon.

From now on, Payment Asia is not merely providing payment service, but a group of talents that generating traffic and converting into sales through payment technology. As a leading payment solution provider, the company goes hand in hand with merchants as it believes that merchants’ success is Payment Asia’s success.

The Founders of Payment Asia

The founders of Payment Asia originally come from three different backgrounds: e-payment, e-commerce and digital marketing. With the rapid development of the eBusiness, Social Media and Innovative Technology, they realized that their experience could synergize to form a strong and organic group to revolutionize the business of eCommerce World. Over the years, Payment Asia has served more than 5000 domestic and foreign merchants. And at present, it is a leading one-stop eCommerce payment solution in Hong Kong and across Asia.

“Our mission is to carefully protect your existing investments whilst slowly proceeding to a modern, reliable payment transaction setting to acquire the growth you desired.”