AsiaPay Philippines Celebrates 10th Year Anniversary
AsiaPay Payment Technology Corporation, the leading online payment service provider in the country, will be celebrating its 10th anniversary on October 18. More popularly known as AsiaPay Philippines, the company provides secure payment processing services that empower local businesses to accept payments online via credit cards, ATM debit cards, e-wallets and cash-based payments.
In an industry where many players have already come and gone, AsiaPay PH has maintained a strong track record in merchant acquisition, sustained organic growth & demonstrated profitability through the years by delivering best-in-class payment solutions for businesses of all sizes across industries.
Where The Journey Started
Established in the year 2006, AsiaPay Philippines is a wholly-owned subsidiary of AsiaPay Limited. It is the first overseas office opened following AsiaPay’s headquarters in Hong Kong.
“At a time when shopping online was mainly fueled by microblogging sites, we saw the Philippines’ great potential for e-commerce,” said AsiaPay’s CEO & Founder Joseph Chan. “Seeing the Filipino’s love and interest for all things digital, it was only a matter of time before e-commerce started to take its root in the Philippine economy,” he added.
Since then, AsiaPay PH has been a pioneering force in the country’s e-commerce development, combining payment technology and expertise to ensure that merchants can grow their businesses by optimizing checkout conversions through payments.
Progress Amid Torrid Growth
The path for AsiaPay Philippines was not an easy one. Challenges in market adoption, local infrastructure restrictions and limited product offerings gave the company a slow and rough beginning.
Facing these setbacks, AsiaPay PH made the bold move to shift their primary focus from being a technology provider for banks to a payment processor for local businesses and organizations.
At this point in time, AsiaPay PH began to offer credit card processing for major card brands.
In 2008, AsiaPay Philippines decided to brand their payment gateway as PesoPay. The purpose of which is not only to have a product named after the country’s currency but to offer a “one-stop” platform that provides merchants with more ways to accept payments online without manually integrating with each payment method.
Armed with this objective, AsiaPay Philippines broadened its range of services by integrating with other prominent payment options. BancNet was later added in 2009 for ATM debit cards while GCash and Smart Money were integrated in the years 2010 and 2011 respectively for e-wallet payments. To complete the set, PayCash, a cash-based payment processing service that allows the unbanked to pay online, was launched in 2013.
Of course, AsiaPay Philippines didn’t stop the improvements there. Throughout the years, AsiaPay PH has vastly expanded PesoPay’s range of capabilities from a hotel booking engine module, electronic voucher add-ons, card promotion, online registration management system, customize solutions, eInstallment, tokenization and even a payment gateway solution to banks. And best of all, AsiaPay PH has continued to retain its certified PCI-DSS Level 1 status since 2006, the highest level of security certification for processing credit card payments online.
A Decade of Excellence
Over the past 10 years, AsiaPay Philippines has built a solid reputation as an industry leader. The company now boasts an impressive portfolio of clients from large enterprises to startups and small-medium businesses.
“We did not reach this status overnight. It took years of dedication from each of us to stand where we are today. I’ve been with the company quite long enough and throughout my career, I would say that the greatest asset of our success is our people,” said Mr. Mau San Andres, Associate Director. “As the rainy season wraps up and soon to start the Christmas Holidays shopping spree, I’d like to thank our clients for their unflinching support and trust our services. Indeed, this milestone is a tremendous achievement for the company. It serves as a testament of our growth and our commitment to what we’ve started,” he added.
Looking Ahead: What’s Next for AsiaPay PH?
What started as a vision of empowering payments for ecommerce transactions has now grown into a highly specialized organization that consistently delivers top-notch solutions exceeding client’s expectations.
“It’s been a great run. I want to collectively thank our merchants, partners and staff for the success that AsiaPay Philippines has achieved in the last 10 years. As we embark on this journey towards our second decade in business, you can be rest assured that we’ll continue to be a part of the e-commerce revolution, one payment at a time,” said Joseph Chan. ADVT.
Subscribe to our business newsletter
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.