SINGAPORE – (NewMediaWire) – August 04, 2023 – – Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next-generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announced a strategic payments partnership with 2C2P, a global full-suite payments platform headquartered in Singapore, to drive e-commerce shopping in SEA.
Amidst the pandemic and its recovery, the adoption of digital payments in the region has accelerated while cash usage has continued to decline. Propelled by a surge in digital commerce and government incentives/initiatives, providers of domestic payments, mobile wallets, and buy-now-pay-later (BNPL) operators, are all witnessing increased adoption by businesses. Forecasts suggest SEA’s digital economy is experiencing impressive growth rates from 2021 to 2026 and will outpace China, Europe, and the US. According to an IDC InfoBrief commissioned by 2C2P, SEA’s digital economy spending will rise by 121% by 2026, and digital payments will reach 92% of total digital economy payments by 2026, up from 80% in 2020.
Rokas Sidlauskas, Chief Marketing Officer of SoPa, commented, “We are excited to announce this strategic payments partnership with 2C2P as it enables Society Pass to offer more flexible and convenient methods to pay for goods and services within our ecosystem to our customers. By integrating leading Southeast Asia digital e-wallets such as AliPay (regional), Touch n’ Go (Malaysia), Momo (Vietnam) or GCash (Philippines) just to name a few into our ecosystem, Society Pass enables millions of customers to access our platforms, ranging from travel (NusaTrip), to e-commerce (Leflair.com), to telecoms (Gorilla Networks), and to digital advertising (Thoughtful Media Group). This is especially important considering that we operate in Southeast Asian markets, where unfortunately, over 75% of people are unbanked and do not possess debit or credit cards.”
Mr. Sidlauskas added, “In partnering with 2C2P, we automatically increase the potential customer-base within Southeast Asia by millions of potential users. We are excited by the prospect of adding value by offering our services to them.”
2C2P is a full-suite payments platform helping the world’s leading enterprises securely accept and make payments through one point of integration. Its far-reaching network extends across online, mobile and offline channels including over 400,000 alternative payment locations, enabling enterprises to reach their customers or recipients anywhere. 2C2P also provides value-added services such as issuing, 3D Secure, bill payments and digital goods to meet every business need.
The company is headquartered in Singapore and operates globally. It is the preferred payments platform of tech giants, online marketplaces, retailers and other global enterprises.
For more information on 2C2P, please visit: https://2c2p.com/
About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.
Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.
SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 650,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.
Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global, a Singapore-based, mobile network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; and Pushkart.ph, a popular grocery delivery company in Philippines.
For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.
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