2C2P, Diners Club to improve payments in SEA

Payment services company, 2C2P, has signed an online payment processing agreement with Diners Club International, which is part of the Discover Global Network, a wholly owned subsidiary of Discover Financial Services The Singapore-based payment services company is now a global acquirer for all cards running on the Discover Global Network. 2C2P’s SEA merchants can now tap Diners Club International, Discover and other Discover Global Network cards as an additional payment method. 2C2P will increase acceptance in the SEA region allowing Discover Global Network cardholders to use their cards at an increased number of merchants in the region. 2C2P will provide its merchants with single-source electronic payment services for the acceptance of Discover Global Network, which includes Discover cards from the United States, Diners Club International as well as its affiliate cards such as BC Global Card from South Korea, Elo Card from Brazil and RuPay from India. Aung Kyaw Moe, Founder and Group CEO, 2C2P said, “With the rise in global online retail and tourism, this agreement opens up key international travel and entertainment markets such as Asia, Europe and the US to our Southeast Asian merchants. Cardholders from Discover Global Network can now enjoy payments access to the region’s travel, transport, tourism, retail and e-commerce brands.”

“Discover Global Network continues to increase our merchant acceptance footprint in Southeast Asia through working with companies such as 2C2P because this region has an increasing number of Discover Global Network cardholders as a result of our Diners Club and RuPay networks,” said Ricardo Leite, Vice President, Discover Global Network.

According to McKinsey, the annual revenue of the global payments market is expected to increase by six percent from 2015 to 2020, exceeding US$2 trillion by 2020. The Asia Pacific region, including China, accounts for approximately 55 percent of the industry’s revenue growth worldwide.

“2C2P continues to look for market-leading partners around the world, to deploy its best-in-class online payments processing solutions and make it easier for consumers to transact with the payment instrument of their choice,” added Aung.