The CIO Times interviews Joseph Chan – Founder and CEO – AsiaPay Group
- Kindly enlighten us about the inception story of your business.
I spearheaded AsiaPay with a sole drive of bringing safe and convenient payments in different Asian markets and industries. My visionary takes on electronic payments has started as a Hong Kong -based firm back in 2000 and is now operating worldwide.
Before building my mark on the industry, I always aim towards delivering the consumers their desired payment methods and merchants’ integrated settlements, which stands as key factors why AsiaPay is built. The award-winning payment solutions that I started, eyes for the future generation’s potential for card and mobile-based financial settlements.
- What are the various products/services offered by your enterprise, and how are they unique or different from the existing products in the market?
- AsiaPay provides multi-payment methods ranging from one-stop comprehensive credit and debit cards, eBanking, QR payments, and P.O.S. It also comes with a multi-currency payment feature that accepts payments from cross-border countries. AsiaPay also runs a multi-channel platform that allows convenient payment transactions from any web-connected device. AsiaPay enables merchants to securely accept the most popular digital payment methods from credit cards, internet banking, and more on a single platform.
- Award-winning one stop payment management (Single platform for multi-card, multi- currency, mutli-acquirier processing and settlement controls)
- Comprehensive payment coverage (Widest range of credit, debit payment options and acquirers, covering 100+ banks and payment brands)
- Multiple Payment Channel Capability
- Comprehensive Risk and Anti-Fraud controls (PCIDSS compliant since 2006, with built-in anti-fraud and risk management system)
- Robust and Certified Technology (3-D Secure and Digital Wallet Vendor for Visa, Mastercard, American Express, JCB, Discover Global Network and UnionPay in Asia-Pacific)
- Reliable and High Availability + 99. 9%
- Flexible and Highly Customisable
- Extendable and Expandable
- Proven Track Record and Solid Industry Expertise
- Broadest World-class Enterprise Service in 13 operative offices in Asia-Pacific
- In a highly consumer-oriented marketed, how much importance do you pay to quality and authenticity?
- AsiaPay values every merchant as a partner to support their business growth in financial terms. As part of our goal to innovate, we newly launched as:
- SDK to facilitate a secure interface from merchants’ mobile APP to our gateway.it supports in-app payments for iOS and Android operating systems.
- AsiaPay AppPay serves as a convenient APP tool to merchants that can offer seamless ePayment to their customers by completing their ePurchases on the go via mobile devices. generate the payment links or QR codes and share with your consumers and get paid. Merchants can maximize their business productivity and generate more sales and profitability.
- Retailers can strongly initiate an eWallet payment such as SmartPOS that can drive your in-store sales performance, powered with valued added functionalities just like what AsiaPay has to offer.
- Communication, AsiaPay provides guideline & Training to Merchants on how to use our payment platform & system. meantime organizes Training Workshops for merchants regularly.
- Convenient, we newly launched Revamped Merchant Admin Portal, this update is part of a larger effort to modernize and simplify the administration experience for our valued clients.
- According to you, what are the most important qualities an entrepreneur should possess?
- Innovator
- Builder
- Communicator
- Do you believe there is a winning formula for becoming a successful entrepreneur? What is yours?
- Embrace changes and technological evolution. Effectively implement the vision with a like-minded professional team;
- Be aggressive and stay agile;
- A clear vision of what you want to achieve
- Sustainable development: an important driver of enterprise growth
- The internal driving force of the enterprise: market competition, promote the enterprise to continue to innovate, improve technology and management, improve the core competitiveness of the enterprise
- external driving force: implementation of the national development strategy, the scientific concept of development requires the implementation of innovation-driven strategy, strengthen scientific and technological innovation
- Mention some awards and recognitions received by your company.
- Best Digital Payment Solution Provider Singapore 2020 by Finance Derivative
- FinTech Awards 2020 in Corporate / Merchant Payments Initiative – Outstanding Online Digital Payment Solution by etnet, 2021
- The 10 Most Disruptive Tech Entrepreneurs to Look for in 2020 by Mirror Review
- Stars of China 2020 – Innovation in Payments by Global Finance
- Retail Innovation Award 2020 by Hong Kong Retail Technology Industry Association Ltd
- Best Payment Solution Provider Asia Pacific 2020 by Global Banking & Finance Review
- FT: High-Growth Companies in Asia-Pacific by The Financial Times
- The market is extremely volatile, what is the current scenario of the industry you are involved in? Where do you think we are heading towards as an economy?
Digital transformation is constantly upgrading. AsiaPay is on the move toward digital innovation and disruption that can change the way we live and do business for the better. In Covid-19, a consumer using digital payment more, our company do cope with this opportunity
- Expand and focus more on other “distribution channels”
- Retailers with more aggressive online sales home delivery/ consumables
- Heavier sales and promotion activities on social media
- We launched Retail Payment AsiaPay AppPay
- Value-added Payment Solutions
- Mobile Payment: Mobile in-app SDK
- Comprehensive data Analytical tools for digital merchants.
- Keeping one eye on the road ahead could allow us to exit the crisis with a more customer-focused, efficient, and resilient payments industry
At AsiaPay we
- strive our best effort to take advantage of the latest digital payment and commerce technologies to generate new values and opportunities to banks and merchants in Asia, that enhance customer experience, business growth, and competitive edge especially under the current uncertain times.
- We create Business innovation to provide a good customer experience.
- Digital currencies have the potential to extend the value of digital payments to more customers
- We want to help shape and support the role that digital currencies will play in the future of currencies
- Where do you see your enterprise in the next ten years?
Clear Strategic direction
we strive to provide secure, integrated, and most comprehensive payment processing services for businesses, charities, and associations, and payment solutions blending the latest technologies for the financial / banking industries that readily enhance one’s quality of life and maximize business opportunities, efficiency, and productivity.
To become a trustful payment service provider, we have communicated and encouraged R&D colleagues to continuously refine and upgrade our payment products over time, enhance our security technology, introduce new products according to customer’s requirements and needs.
What advice would you give to budding entrepreneurs?
-Demonstrates perseverance in the face of adversity and overcoming obstacles.
-Demonstrates strong leadership skills and an unflinching desire and determination to be successful
-Balance the concepts of effectiveness and efficiency of business plans.
-Be open to learn from others and gain experience.
-Show the capacity to be an independent thinker and to take on and manage risks in the face of uncertainty.
-Always have a mindset that adjusts to the constantly changing demands of this modern generation.
