SafeCharge (LON:SCH), a payment technologies provider for the financial services industry, has greatly expanded its focus in Asia, opening offices in both Singapore and Hong Kong, two of the biggest hubs in the region, according to a regulatory filing.
In particular, SafeCharge has launched a new office in Singapore as well as a satellite office in Hong Kong – the two new locales are part of a unified effort to improve the group’s market penetration in the Asia-Pacific (APAC) region, which can tap into one of the largest potential client bases in the world.
In tandem with this development, SafeCharge is also slated to become a member of UnionPay International, a subsidiary of global payment network China UnionPay, which has over the past few years become an integral component for Chinese shoppers both domestically and internationally.
Going Past the Great Wall: Things to Consider When Entering the Asian MarketGo to article >>
The Singapore office will also be installing new leadership, with Willy Kwa being appointed as its inaugural Regional Director and Head of APAC Business, based in Singapore. He steps into the role with over two decades of experience in the payments sector.
According to David Avgi, CEO, SafeCharge, in a statement on the new offices launch: “Establishing offices in Singapore and Hong Kong will enable us to grow our footprint in the region and provide local card acquiring and alternative payments for domestic and international businesses that serve customers in Asia Pacific.”
“Our membership of UnionPay International means that we are able to help European merchants accept this fast growing payment method and support the dramatic demand for cross-border transactions in an increasingly global market,” he added.
“The Asia Pacific region not only has the largest e-commerce market in the world, but now represents more than half of all e-commerce spend globally, with its lead set to only grow further. In addition, companies like Ant Financial and AliPay demonstrate that domestic innovation is rapidly going global and dramatically altering the macro payments landscape. A local presence is essential in order to stay ahead of the innovation curve, support customers internationally and accelerate our growth,” noted Mr. Kwa.