The payments industry is quite complex, depending heavily on the health of the economy. The more consumers purchase, the more transactions are processed. The industry is growing at a rapid rate and this is partly due to the ease of accessibility of obtaining debit cards that can be used to purchase goods and services online and through digital payment platforms. The credit card remains the dominant player of the payments industry, while online payment programs and mobile payment programs continue to increase their presence in the retail sector.
The safety of online payment programs and secure processing of credit cards via digital payment platforms, is one of the major obstacles payment industry providers and merchants face. As more consumers pay for goods and services through credit cards and make digital payments, the new companies entering the payments industry need to be a lot more vigilant of their cyber security and safety procedures. Awareness of payment trends must also be at the forefront of risk management analysis, as not being in the know can sometimes harm the payments industry provider if they are not properly educated, prepared, or knowledgeable in the rapid emergence of the payments industry.
Recent trends have identified that with disruption comes increased competition amongst new companies coming into the payments industry. China in particular is a nation growing rapidly in this space and one global payments industry solutions provider based in Singapore, has expanded its operation to include an office in China, thus capitalizing on this growth market region.
Founded in 2015, APACPAY owns a comprehensive range of products and services distinct in its competence to provide customized full-service solutions. In addition to Singapore and China, APACPAY has offices in the Malaysia, United Kingdom and Belgium. Further expansion is expected by 2018 with offices opening in the regions of Brazil, Vietnam, Bahrain and the United States.
The APACPAY payment technology provides an innovative payment solution with a strong focus and importance given to appropriate risk management practices. The risk management process in payment technology should identify, analyze, assess, treat, monitor and communicate to consumers exactly what the payment industry provider’s intentions are, to maintain the safety and security of its customers. Online payment systems are a red-hot target to cyber hackers and very vulnerable to online security attacks. Data needs to be protected at all points of the transaction, from the moment the transaction is initiated, through to the processing network in order truly be effective. APACPAY delivers this and more in its i-RiskGate risk management system.
i-RiskGate will identify, manage and block suspicious and potentially costly fraudulent transactions. By customizing rule based filters and tools to their business requirements, i-RiskGate offers consumers and users of APACPAY a unique and highly efficient risk management system. The many features of i-RiskGate that consumers can come to benefit from include flexible and well-developed risk rules configuration, correlated transactions detection, user assessment scoring, agile 3DS authentication, behavior analytics system, true identity verification, innovative device fingerprinting combination and an intelligent monitoring an alarm system. Through i-RiskGate, APACPAY also offers payment fraud insurance for a minimal fee, relieving customers from complicated dispute handling and financial complexity that may arise and while protecting transactions, thus maximizing growth in sales while reducing fraud rates. Add a committed global fraud prevention team consisting of professionals who are highly knowledgeable in the area of risk management, offering a full suite of business specific risk management tools and consumers receive peace of mind that they are adequately protected with APACPAY’s i-RiskGate.
APACPAY’s payment gateway delivers a complete solution to consumers globally to process transactions efficiently and securely, while providing peace of mind in risk management and cyber security. It intelligently routes transactions across acquires and immediately accesses more than 200 APMs (Alternative Payment Methods) around the world.
APACPAY is registered with the leading card schemes and local payment methods, allowing the user to accept more than 200 payment methods. With their multi-currency acquiring capabilities, customers can choose to pay in their preferred currency. APACPAY has contracted acquirers from Europe, the Americas and Asia. Being able to configure alternative payment methods for the consumer’s specific requirements such as carrier billing, bank transfer, digital wallet and many others; is one of the unique features that APACPAY’s payment gateway offers. Another very unique feature of this innovative payment gateway is the ability to choose a domestic acquirer the access to process domestic transactions based on the geographic location of the customer. Offering a more cost-effective solution to the customer.
Integrating with APACPAY to achieve business goals is another benefit of the payment gateway. Providing services which are outside the consumer’s core competencies, enables the business to take care of their day to day operations. APACPAY is Level One PCI DSS compliant, the highest level of compliancy. Transactions are processed safely with minimal transaction risks, alleviating the burden of complex and cost-intensive issues that may arise as a result of non-compliance.
GMERS (Global Money Exchange and Remittance Solution) is a cross border payment solution provided by APACPAY, to facilitate international currency conversion and money remittance. It offers an easy integration which ensures full transparency and streamlined transactions globally. Consumers will enjoy the use of a compliant and secure platform with access to wide range of money services worldwide. APACPAY ensures the operational transparency and security in being fully compliant with local exchange and remittance regulations.
Accessing real time exchange rates at the click of a button through key exchange rate providers such as Thomson Reuters, irrespective of the device that is being used, is another key feature of GMERS. Transparency of fees and costs associated with transactions, is of upmost importance to APACPAY and they do this by sharing all fees levied upfront and prior to a transaction being made. This fee then becomes the only fee of APACPAY’s GMERS solution. A fast and efficient money transfer process is equally as important a feature that APACPAY’s GMERS solution offers consumers. By handling orders within six hours in most countries, to two hours in some regions; the need for urgent money remittance is addressed.
Effortless integration to APACPAY’s GMERS solution allows consumers the opportunity to enjoy cost saving service and avoid currency risks. APACPAY do this by installing their “FX-as-a-Service” and “Remittance-as-a-Service” tools into specific applications and as per individual requirements. Finally, APACPAY’s GMERS solution is dedicated to offering the most comprehensive money service in a range of currencies and countries.
Company Name: APACPAY PTE. LTD.
Contact Person: Robert Ang
Address:NORDIC EUROPEAN CENTRE #04-01A