2C2P’s merchant partners include retailers spanning the travel & tourism, retail, food & beverage and hospitality industries. The payment solution enables these online retailers to bring online commerce to the region’s unbanked population which, according to KPMG, spanned 73 per cent of the region’s population, or 438 million people.
How it works?
At online check-out, consumers using 2C2P will have the option to pay for purchases using 123. They will be provided a bar code which can be printed out or scanned from their mobile devices, enabling them to then pay with cash or alternate means 2C2P’s network of offline payment locations available through 2C2P’s channel partners.
Payment channels include cash over-the-counter at retail chains and agents, ATMs and electronic kiosks (such as AXS, SAM, SingPost), as well as internet banking and mobile banking. These locations are available across Southeast Asia, including Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand.
Bringing e-commerce capabilities to rural Myanmar
The company claims to have increased its payment locations across the SEA region with 12,000 new locations added in Myanmar in 2016. It has achieved this by establishing partnerships with Myanmar post offices, Myanmar Awba Group and ABC convenience store chain. Retailers and merchants including Myanmar National Airlines (MNA) and Myanmar’s largest online travel agent, Oway, are among the first in Myanmar to actively offer 123 to their customer base.
“2C2P has made extensive efforts to open up Myanmar’s unbanked population to e-commerce. As the country continues to see increased mobile penetration, rising urbanization and improved consumer spending, there is an urgent need to modernise its e-commerce and payments infrastructure. 2C2P’s vision is to bring e-commerce to every single person in Myanmar, and more broadly, in Southeast Asia. In so doing, we look to build the region’s e-commerce future,” said Aung Kyaw Moe, CEO and Founder, 2C2P.
“2C2P, through 123, looks to bring convenience to Myanmar’s citizens, particularly those that remain underserved by banking and financial institutions – lacking banks accounts, credit and debit cards or access to a bank branch. They can now, for the first time, tap into the fast-growth of national, regional and global e-commerce by paying for their online purchase at a convenient offline location via 2C2P’s extensive network of physical channel partner locations,” added Aung.
2C2P further adds that MNA being the largest airline carrier, and one of only two international carriers in Myanmar, has the most extensive route network within the country. With 123, its customers can book their company tickets online and then pay at over the 12,000 physical locations across Myanmar, or pay through AYA Mobile Banking and branches. Customers can also use 123 to make travel bookings more convenient and accessible – all without debit or a credit card.
